Taylor Morrison Home (NYSE:TMHC) announced its earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.07, Bloomberg Earnings reports. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. Taylor Morrison Home had a net margin of 2.36% and a return on equity of 5.82%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share.
Taylor Morrison Home (NYSE:TMHC) opened at $23.88 on Wednesday. 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 12 month low of $18.41 and a 12 month high of $28.42. The firm has a market cap of $2,850.24, a P/E ratio of 12.04, a PEG ratio of 0.76 and a beta of 1.44.
Taylor Morrison Home declared that its Board of Directors has authorized a share buyback program on Wednesday, January 3rd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts recently commented on the stock. Barclays set a $28.00 price objective on shares of Taylor Morrison Home and gave the company an “equal weight” rating in a research report on Thursday, February 8th. B. Riley restated a “neutral” rating on shares of Taylor Morrison Home in a research report on Thursday, November 2nd. Zacks Investment Research cut shares of Taylor Morrison Home from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Susquehanna Bancshares raised shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday, January 4th. Finally, Citigroup raised shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.22.
In other news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the firm’s stock in a transaction that occurred 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 can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in TMHC. Ameritas Investment Partners Inc. grew its stake in Taylor Morrison Home by 62.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock worth $129,000 after acquiring an additional 2,060 shares during the period. Nordea Investment Management AB purchased a new stake in Taylor Morrison Home in the 2nd quarter worth approximately $192,000. Dean Capital Investments Management LLC purchased a new stake in Taylor Morrison Home in the 4th quarter worth approximately $218,000. Victory Capital Management Inc. grew its stake in Taylor Morrison Home by 37.3% in the 3rd quarter. Victory Capital Management Inc. now owns 10,197 shares of the construction company’s stock worth $225,000 after acquiring an additional 2,768 shares during the period. Finally, Optimum Investment Advisors acquired a new position in shares of Taylor Morrison Home in the 3rd quarter valued at $225,000. 57.40% of the stock is owned by hedge funds and other institutional investors.
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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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