Brokerages forecast that Taylor Morrison Home Corp (NYSE:TMHC) will report $1.15 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Taylor Morrison Home’s earnings. The lowest sales estimate is $1.10 billion and the highest is $1.19 billion. Taylor Morrison Home posted sales of $1.04 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.6%. The business is expected to issue its next earnings results before the market opens on Wednesday, October 30th.
According to Zacks, analysts expect that Taylor Morrison Home will report full year sales of $4.73 billion for the current fiscal year, with estimates ranging from $4.67 billion to $4.79 billion. For the next financial year, analysts anticipate that the company will report sales of $4.95 billion, with estimates ranging from $4.84 billion to $5.18 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Taylor Morrison Home.
Taylor Morrison Home (NYSE:TMHC) last posted its earnings results on Wednesday, July 31st. The construction company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.63 by $0.13. Taylor Morrison Home had a return on equity of 13.66% and a net margin of 5.03%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s quarterly revenue was up 29.0% on a year-over-year basis.
In related news, insider C. David Cone sold 21,205 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $23.06, for a total transaction of $488,987.30. Following the completion of the sale, the insider now owns 80,230 shares of the company’s stock, valued at $1,850,103.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Darrell Sherman sold 131,002 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $25.00, for a total value of $3,275,050.00. Following the sale, the executive vice president now directly owns 97,725 shares of the company’s stock, valued at approximately $2,443,125. The disclosure for this sale can be found here. Insiders have sold 600,491 shares of company stock valued at $14,361,881 in the last ninety days. 1.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio grew its stake in Taylor Morrison Home by 212.5% during the third quarter. Strs Ohio now owns 7,500 shares of the construction company’s stock worth $194,000 after purchasing an additional 5,100 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Taylor Morrison Home during the third quarter worth approximately $262,000. Robeco Institutional Asset Management B.V. acquired a new stake in Taylor Morrison Home during the third quarter worth approximately $2,297,000. Meeder Asset Management Inc. grew its stake in Taylor Morrison Home by 1,981.6% during the third quarter. Meeder Asset Management Inc. now owns 24,272 shares of the construction company’s stock worth $629,000 after purchasing an additional 23,106 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Taylor Morrison Home during the third quarter worth approximately $328,000. 98.99% of the stock is owned by institutional investors and hedge funds.
Shares of TMHC traded up $0.06 during mid-day trading on Friday, reaching $27.71. 29,797 shares of the company were exchanged, compared to its average volume of 1,570,438. Taylor Morrison Home has a 52 week low of $14.73 and a 52 week high of $27.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 7.69. The stock has a market capitalization of $2.94 billion, a PE ratio of 10.52, a PEG ratio of 1.85 and a beta of 0.88. The business has a 50 day simple moving average of $25.17 and a two-hundred day simple moving average of $21.90.
Taylor Morrison Home Company Profile
Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family and multi-family attached and detached 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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