Taylor Morrison Home Corp (TMHC) Receives $22.20 Average Price Target from Brokerages
Shares of Taylor Morrison Home Corp (NASDAQ:TMHC) have been assigned an average rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $23.25.
TMHC has been the subject of a number of analyst reports. BidaskClub raised shares of Taylor Morrison Home Corp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 12th. Zacks Investment Research raised shares of Taylor Morrison Home Corp from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Tuesday, July 4th. ValuEngine raised shares of Taylor Morrison Home Corp from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Finally, Deutsche Bank AG boosted their price objective on shares of Taylor Morrison Home Corp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 7th.
Taylor Morrison Home Corp (NASDAQ:TMHC) traded up 1.34% during mid-day trading on Wednesday, hitting $21.18. 576,292 shares of the stock traded hands. The company has a market cap of $1.54 billion and a price-to-earnings ratio of 12.75. Taylor Morrison Home Corp has a 12-month low of $15.82 and a 12-month high of $24.79. The firm’s 50-day moving average is $21.26 and its 200-day moving average is $22.43.
Taylor Morrison Home Corp (NASDAQ:TMHC) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.08. The business had revenue of $908.49 million during the quarter, compared to analyst estimates of $849.70 million. Taylor Morrison Home Corp had a net margin of 6.16% and a return on equity of 9.57%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. Equities research analysts expect that Taylor Morrison Home Corp will post $1.93 EPS for the current year.
Taylor Morrison Home Corp declared that its Board of Directors has initiated a share buyback plan on Monday, September 18th that authorizes the company to repurchase $43.60 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
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A number of institutional investors and hedge funds have recently made changes to their positions in TMHC. Swiss National Bank boosted its position in shares of Taylor Morrison Home Corp by 75.8% during the 1st quarter. Swiss National Bank now owns 89,300 shares of the construction company’s stock valued at $1,904,000 after purchasing an additional 38,500 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Taylor Morrison Home Corp by 43.2% in the second quarter. Prudential Financial Inc. now owns 1,780,580 shares of the construction company’s stock worth $42,752,000 after buying an additional 537,590 shares during the period. Airain ltd boosted its holdings in shares of Taylor Morrison Home Corp by 158.8% in the second quarter. Airain ltd now owns 72,795 shares of the construction company’s stock worth $1,748,000 after buying an additional 44,668 shares during the period. Credit Agricole S A acquired a new position in shares of Taylor Morrison Home Corp in the first quarter worth about $5,757,000. Finally, Marshall Wace North America L.P. boosted its holdings in shares of Taylor Morrison Home Corp by 761.2% in the second quarter. Marshall Wace North America L.P. now owns 260,715 shares of the construction company’s stock worth $6,257,000 after buying an additional 230,440 shares during the period.
Taylor Morrison Home Corp Company Profile
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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