Taylor Morrison Home Co. (NYSE:TMHC) Expected to Announce Quarterly Sales of $2.71 Billion

Equities analysts expect that Taylor Morrison Home Co. (NYSE:TMHC) will report sales of $2.71 billion for the current quarter, according to Zacks. Four analysts have issued estimates for Taylor Morrison Home’s earnings, with the highest sales estimate coming in at $2.95 billion and the lowest estimate coming in at $2.59 billion. Taylor Morrison Home posted sales of $1.56 billion in the same quarter last year, which suggests a positive year over year growth rate of 73.7%. The company is scheduled to report its next earnings results on Wednesday, February 9th.

On average, analysts expect that Taylor Morrison Home will report full-year sales of $7.70 billion for the current financial year, with estimates ranging from $7.59 billion to $7.92 billion. For the next year, analysts anticipate that the firm will report sales of $8.60 billion, with estimates ranging from $8.31 billion to $8.77 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Taylor Morrison Home.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, October 27th. The construction company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.13. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.79 billion. Taylor Morrison Home had a return on equity of 13.79% and a net margin of 7.40%. Taylor Morrison Home’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 EPS.

TMHC has been the topic of several research reports. B. Riley upped their price objective on Taylor Morrison Home from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, October 28th. JPMorgan Chase & Co. reduced their price objective on Taylor Morrison Home from $45.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, October 14th. BTIG Research upped their price objective on Taylor Morrison Home from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, October 28th. Royal Bank of Canada upped their price objective on Taylor Morrison Home from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Thursday, October 28th. Finally, Barclays upped their price objective on Taylor Morrison Home from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, October 28th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Taylor Morrison Home presently has an average rating of “Buy” and an average price target of $37.70.

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 20,654 shares of the stock in a transaction dated Monday, November 15th. The stock was sold at an average price of $32.54, for a total transaction of $672,081.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Lyon sold 5,500 shares of the stock in a transaction dated Friday, November 19th. The stock was sold at an average price of $34.00, for a total value of $187,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 61,890 shares of company stock worth $2,020,157. 5.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hodges Capital Management Inc. grew its holdings in shares of Taylor Morrison Home by 80.9% in the 3rd quarter. Hodges Capital Management Inc. now owns 1,026,969 shares of the construction company’s stock valued at $26,475,000 after acquiring an additional 459,378 shares in the last quarter. Echo Street Capital Management LLC lifted its stake in Taylor Morrison Home by 103.8% in the 2nd quarter. Echo Street Capital Management LLC now owns 26,427 shares of the construction company’s stock valued at $698,000 after purchasing an additional 13,462 shares during the last quarter. Citigroup Inc. lifted its stake in Taylor Morrison Home by 26.2% in the 2nd quarter. Citigroup Inc. now owns 266,978 shares of the construction company’s stock valued at $7,054,000 after purchasing an additional 55,477 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Taylor Morrison Home in the 2nd quarter valued at about $253,000. Finally, Shell Asset Management Co. lifted its stake in Taylor Morrison Home by 5.7% in the 2nd quarter. Shell Asset Management Co. now owns 25,356 shares of the construction company’s stock valued at $670,000 after purchasing an additional 1,370 shares during the last quarter. Institutional investors own 91.34% of the company’s stock.

NYSE TMHC traded down $0.63 during trading hours on Thursday, reaching $32.86. 546,447 shares of the company’s stock were exchanged, compared to its average volume of 1,156,246. The stock has a market cap of $4.04 billion, a PE ratio of 8.74 and a beta of 1.80. Taylor Morrison Home has a one year low of $22.64 and a one year high of $34.05. The firm has a fifty day moving average of $28.98 and a 200-day moving average of $27.91. The company has a current ratio of 5.32, a quick ratio of 0.62 and a debt-to-equity ratio of 0.86.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corp. engages in the business of residential homebuilding and the development of lifestyle communities. It operates through the following segments: East, Central, West, and Financial Services. The East segment includes operations in Atlanta, Charlotte, Chicago, Orlando, Raleigh, Southwest Florida, and Tampa regions.

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Earnings History and Estimates for Taylor Morrison Home (NYSE:TMHC)

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