Brokerages forecast that Taylor Morrison (NYSE:TMHC) will post sales of $785.38 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Taylor Morrison’s earnings, with the lowest sales estimate coming in at $760.00 million and the highest estimate coming in at $812.00 million. Taylor Morrison reported sales of $769.09 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.1%. The business is expected to announce its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Taylor Morrison will report full year sales of $4.20 billion for the current financial year, with estimates ranging from $4.12 billion to $4.28 billion. For the next financial year, analysts anticipate that the business will post sales of $4.61 billion per share, with estimates ranging from $4.49 billion to $4.85 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Taylor Morrison.
Taylor Morrison (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.07. Taylor Morrison had a net margin of 2.36% and a return on equity of 5.76%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis.
In related news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of Taylor Morrison stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $27.14, for a total transaction of $40,702,726.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Terracciano sold 5,788 shares of Taylor Morrison stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $23.97, for a total value of $138,738.36. Following the transaction, the insider now owns 4,168 shares of the company’s stock, valued at $99,906.96. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB acquired a new position in shares of Taylor Morrison during the 4th quarter worth approximately $251,000. Envestnet Asset Management Inc. acquired a new position in shares of Taylor Morrison during the 4th quarter worth approximately $383,000. MetLife Investment Advisors LLC acquired a new position in shares of Taylor Morrison during the 4th quarter worth approximately $907,000. Millennium Management LLC raised its position in shares of Taylor Morrison by 304.9% during the 4th quarter. Millennium Management LLC now owns 3,638,831 shares of the construction company’s stock worth $89,042,000 after purchasing an additional 2,740,201 shares during the last quarter. Finally, Sciencast Management LP acquired a new position in shares of Taylor Morrison during the 4th quarter worth approximately $576,000. Hedge funds and other institutional investors own 73.08% of the company’s stock.
Shares of TMHC stock traded up $0.39 during midday trading on Monday, reaching $23.52. 1,020,937 shares of the company traded hands, compared to its average volume of 1,800,652. Taylor Morrison has a 1-year low of $19.68 and a 1-year high of $28.42. The company has a current ratio of 7.73, a quick ratio of 1.55 and a debt-to-equity ratio of 0.64. The company has a market cap of $2,593.22, a price-to-earnings ratio of 11.88, a PEG ratio of 0.74 and a beta of 1.42.
Taylor Morrison declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Taylor Morrison Company Profile
Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family detached and attached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.
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