Taylor Morrison Home (NYSE:TMHC) declared that its Board of Directors has approved a share buyback plan, which authorizes the company to repurchase $200.00 million in shares on Wednesday, January 3rd, EventVestor reports. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Shares of Taylor Morrison Home (TMHC) traded up $0.71 during trading hours on Thursday, reaching $28.17. 598,976 shares of the company’s stock traded hands, compared to its average volume of 2,734,514. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 6.85. Taylor Morrison Home has a 52 week low of $18.26 and a 52 week high of $27.85. The firm has a market cap of $3,330.00, a P/E ratio of 45.44, a P/E/G ratio of 0.98 and a beta of 1.47.
Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. The business had revenue of $908.00 million for the quarter, compared to analysts’ expectations of $914.19 million. During the same period in the previous year, the company posted $0.49 EPS. Taylor Morrison Home’s revenue was up 6.4% on a year-over-year basis. analysts expect that Taylor Morrison Home will post 1.84 EPS for the current year.
TMHC has been the subject of a number of research reports. ValuEngine downgraded Taylor Morrison Home from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. BidaskClub downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. B. Riley reissued a “neutral” rating on shares of Taylor Morrison Home in a report on Thursday, November 2nd. Susquehanna Bancshares raised Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday, January 4th. Finally, Citigroup raised Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.67.
In other Taylor Morrison Home news, insider C. David Cone sold 35,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.79, for a total transaction of $832,650.00. Following the completion of the transaction, the insider now owns 42,511 shares of the company’s stock, valued at approximately $1,011,336.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.
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About Taylor Morrison Home
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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