Taylor Morrison Home (TMHC) to Release Quarterly Earnings on Wednesday

Posted by Defense World Staff on Jul 19th, 2023

Taylor Morrison Home (NYSE:TMHC – Get Free Report) will be issuing its quarterly earnings data before the market opens on Wednesday, July 26th. Analysts expect the company to announce earnings of $1.62 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Taylor Morrison Home (NYSE:TMHC – Get Free Report) last issued its quarterly earnings data on Wednesday, April 26th. The construction company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.29 by $0.45. Taylor Morrison Home had a return on equity of 24.14% and a net margin of 13.04%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business posted $1.44 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts expect Taylor Morrison Home to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Taylor Morrison Home Stock Performance

Shares of TMHC opened at $51.58 on Wednesday. Taylor Morrison Home has a 12 month low of $22.64 and a 12 month high of $52.09. The stock has a fifty day moving average price of $46.30 and a 200-day moving average price of $39.89. The company has a current ratio of 6.09, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. The firm has a market cap of $5.63 billion, a PE ratio of 5.48 and a beta of 1.73.

Wall Street Analyst Weigh In

TMHC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Taylor Morrison Home in a report on Wednesday, May 31st. They set a “hold” rating and a $50.00 price objective for the company. Barclays raised their target price on Taylor Morrison Home from $45.00 to $52.00 in a research note on Wednesday, May 24th. Wedbush raised their target price on Taylor Morrison Home from $45.00 to $61.00 in a research note on Wednesday, June 28th. StockNews.com started coverage on Taylor Morrison Home in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada raised their target price on Taylor Morrison Home from $33.00 to $42.00 in a research note on Thursday, April 27th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.31.

Insiders Place Their Bets

In other Taylor Morrison Home news, EVP Darrell Sherman sold 14,595 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $44.50, for a total transaction of $649,477.50. Following the sale, the executive vice president now directly owns 119,579 shares of the company’s stock, valued at approximately $5,321,265.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sheryl Palmer sold 112,500 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $47.46, for a total transaction of $5,339,250.00. Following the sale, the chief executive officer now directly owns 399,942 shares in the company, valued at approximately $18,981,247.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darrell Sherman sold 14,595 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $44.50, for a total value of $649,477.50. Following the sale, the executive vice president now owns 119,579 shares in the company, valued at $5,321,265.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 853,803 shares of company stock valued at $38,353,740. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Taylor Morrison Home

A number of institutional investors have recently modified their holdings of the business. State Street Corp lifted its stake in Taylor Morrison Home by 0.6% in the 1st quarter. State Street Corp now owns 4,212,462 shares of the construction company’s stock valued at $161,166,000 after buying an additional 25,923 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Taylor Morrison Home by 2.3% in the 1st quarter. Macquarie Group Ltd. now owns 3,299,615 shares of the construction company’s stock valued at $126,243,000 after buying an additional 73,272 shares in the last quarter. Geode Capital Management LLC lifted its stake in Taylor Morrison Home by 10.1% in the 1st quarter. Geode Capital Management LLC now owns 2,155,604 shares of the construction company’s stock valued at $82,563,000 after buying an additional 197,730 shares in the last quarter. AQR Capital Management LLC lifted its stake in Taylor Morrison Home by 0.5% in the 4th quarter. AQR Capital Management LLC now owns 2,067,080 shares of the construction company’s stock valued at $62,736,000 after buying an additional 9,392 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Taylor Morrison Home by 19.5% in the 1st quarter. Invesco Ltd. now owns 1,743,697 shares of the construction company’s stock valued at $47,464,000 after buying an additional 285,099 shares in the last quarter. 94.68% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Company Profile

(Get Free Report)

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name; and offers title insurance and closing settlement services, as well as financial services.