Taylor Morrison Home Corporation (NYSE:TMHC) – Equities research analysts at Gabelli issued their FY2020 EPS estimates for shares of Taylor Morrison Home in a research note issued to investors on Thursday. Gabelli analyst A. Lacayo forecasts that the construction company will earn $3.15 per share for the year. Gabelli also issued estimates for Taylor Morrison Home’s FY2021 earnings at $3.40 EPS and FY2022 earnings at $3.65 EPS.
TMHC has been the subject of several other reports. ValuEngine downgraded Taylor Morrison Home from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Wedbush reiterated a “neutral” rating and issued a $27.00 price target on shares of Taylor Morrison Home in a report on Friday, January 12th. Citigroup upgraded Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, January 2nd. BidaskClub downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Finally, B. Riley reiterated a “neutral” rating on shares of Taylor Morrison Home in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $28.22.
Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings data on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.07. Taylor Morrison Home had a return on equity of 5.82% and a net margin of 2.36%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year.
Taylor Morrison Home announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 3rd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
In related news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $27.14, for a total transaction of $40,702,726.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Stanley Laman Group Ltd. purchased a new stake in Taylor Morrison Home during the 4th quarter worth $936,000. American International Group Inc. boosted its position in Taylor Morrison Home by 15.9% during the 4th quarter. American International Group Inc. now owns 54,643 shares of the construction company’s stock worth $1,337,000 after purchasing an additional 7,506 shares during the period. HAP Trading LLC boosted its position in Taylor Morrison Home by 168.3% during the 4th quarter. HAP Trading LLC now owns 98,927 shares of the construction company’s stock worth $2,421,000 after purchasing an additional 62,060 shares during the period. UBS Asset Management Americas Inc. boosted its position in Taylor Morrison Home by 52.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 45,133 shares of the construction company’s stock worth $1,104,000 after purchasing an additional 15,598 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Taylor Morrison Home by 34.8% during the 4th quarter. Bank of New York Mellon Corp now owns 481,153 shares of the construction company’s stock worth $11,775,000 after purchasing an additional 124,200 shares during the period. 57.67% of the stock is owned by hedge funds and other institutional investors.
Taylor Morrison Home Company Profile
Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).
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