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

Posted by Defense World Staff on Oct 18th, 2023

Taylor Morrison Home (NYSE:TMHC – Get Free Report) will be announcing its earnings results before the market opens on Wednesday, October 25th. Analysts expect the company to announce earnings of $1.52 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Taylor Morrison Home (NYSE:TMHC – Get Free Report) last posted its earnings results on Wednesday, July 26th. The construction company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.43. Taylor Morrison Home had a net margin of 12.25% and a return on equity of 22.24%. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm posted $2.27 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. 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

NYSE:TMHC opened at $41.19 on Wednesday. The company has a current ratio of 6.13, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $44.69 and a two-hundred day moving average price of $44.75. Taylor Morrison Home has a twelve month low of $23.51 and a twelve month high of $52.09. The company has a market capitalization of $4.51 billion, a P/E ratio of 4.53 and a beta of 1.76.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Taylor Morrison Home in a report on Thursday, October 5th. They set a “buy” rating for the company. Barclays dropped their target price on shares of Taylor Morrison Home from $55.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday, October 12th. Credit Suisse Group raised their price target on shares of Taylor Morrison Home from $47.00 to $56.00 in a research note on Thursday, July 27th. Royal Bank of Canada raised their price target on shares of Taylor Morrison Home from $42.00 to $49.00 in a research note on Thursday, July 27th. Finally, Wedbush raised their price target on shares of Taylor Morrison Home from $45.00 to $61.00 in a research note on Wednesday, June 28th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Taylor Morrison Home has an average rating of “Hold” and a consensus target price of $46.79.

View Our Latest Stock Analysis on TMHC

Insider Buying and Selling

In related news, CEO Sheryl Palmer sold 112,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $46.01, for a total value of $5,176,125.00. Following the sale, the chief executive officer now directly owns 399,942 shares of the company’s stock, valued at $18,401,331.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director William H. Lyon sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $52.06, for a total value of $31,236.00. Following the sale, the director now directly owns 3,143,260 shares of the company’s stock, valued at $163,638,115.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sheryl Palmer sold 112,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $46.01, for a total transaction of $5,176,125.00. Following the completion of the transaction, the chief executive officer now owns 399,942 shares in the company, valued at approximately $18,401,331.42. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TMHC. Lazard Asset Management LLC purchased a new stake in shares of Taylor Morrison Home during the first quarter valued at approximately $44,000. Quantbot Technologies LP purchased a new stake in shares of Taylor Morrison Home during the first quarter valued at approximately $77,000. Fortis Capital Advisors LLC purchased a new stake in shares of Taylor Morrison Home during the first quarter valued at approximately $111,000. Covestor Ltd increased its stake in shares of Taylor Morrison Home by 100.5% in the first quarter. Covestor Ltd now owns 3,072 shares of the construction company’s stock worth $84,000 after buying an additional 1,540 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its stake in shares of Taylor Morrison Home by 3,221.2% in the first quarter. Belpointe Asset Management LLC now owns 3,454 shares of the construction company’s stock worth $132,000 after buying an additional 3,350 shares during the last quarter. Hedge funds and other institutional investors own 95.32% of the company’s stock.

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.