Taylor Morrison Home Co. to Post FY2024 Earnings of $7.86 Per Share, Wedbush Forecasts (NYSE:TMHC)

Taylor Morrison Home Co. (NYSE:TMHC) – Equities research analysts at Wedbush raised their FY2024 EPS estimates for Taylor Morrison Home in a report issued on Wednesday, May 1st. Wedbush analyst J. Mccanless now expects that the construction company will earn $7.86 per share for the year, up from their prior forecast of $7.05. Wedbush has a “Neutral” rating and a $55.00 price target on the stock. The consensus estimate for Taylor Morrison Home’s current full-year earnings is $7.56 per share.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.18. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.66 billion. Taylor Morrison Home had a return on equity of 15.75% and a net margin of 10.30%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.74 earnings per share.

A number of other brokerages have also weighed in on TMHC. Zelman & Associates upgraded Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a research note on Friday, April 12th. StockNews.com downgraded shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Seaport Res Ptn lowered shares of Taylor Morrison Home from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. Royal Bank of Canada lifted their price objective on shares of Taylor Morrison Home from $61.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, Barclays upped their target price on Taylor Morrison Home from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Taylor Morrison Home currently has a consensus rating of “Hold” and an average target price of $58.20.

Taylor Morrison Home Trading Up 0.7 %

Shares of NYSE:TMHC opened at $59.02 on Monday. The business’s 50-day moving average is $57.73 and its 200 day moving average is $52.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.16 and a quick ratio of 0.91. Taylor Morrison Home has a 1 year low of $37.23 and a 1 year high of $62.64. The firm has a market capitalization of $6.28 billion, a P/E ratio of 8.44 and a beta of 1.88.

Insiders Place Their Bets

In other news, Director William H. Lyon sold 153,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $62.32, for a total value of $9,534,960.00. Following the sale, the director now owns 40,570 shares in the company, valued at $2,528,322.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director William H. Lyon sold 164,000 shares of Taylor Morrison Home stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $60.33, for a total transaction of $9,894,120.00. Following the completion of the transaction, the director now directly owns 43,570 shares in the company, valued at $2,628,578.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William H. Lyon sold 153,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $62.32, for a total value of $9,534,960.00. Following the completion of the sale, the director now owns 40,570 shares in the company, valued at approximately $2,528,322.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 613,537 shares of company stock valued at $36,409,767. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Taylor Morrison Home

Several large investors have recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its holdings in Taylor Morrison Home by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 14,383 shares of the construction company’s stock valued at $767,000 after buying an additional 213 shares in the last quarter. Meritage Portfolio Management increased its stake in shares of Taylor Morrison Home by 2.1% in the 4th quarter. Meritage Portfolio Management now owns 10,885 shares of the construction company’s stock valued at $581,000 after purchasing an additional 229 shares in the last quarter. CWM LLC raised its holdings in Taylor Morrison Home by 17.2% in the 4th quarter. CWM LLC now owns 1,804 shares of the construction company’s stock worth $96,000 after purchasing an additional 265 shares during the period. Resonant Capital Advisors LLC boosted its position in Taylor Morrison Home by 3.6% during the fourth quarter. Resonant Capital Advisors LLC now owns 8,135 shares of the construction company’s stock worth $434,000 after purchasing an additional 285 shares in the last quarter. Finally, Tectonic Advisors LLC grew its holdings in Taylor Morrison Home by 1.1% in the fourth quarter. Tectonic Advisors LLC now owns 27,533 shares of the construction company’s stock valued at $1,469,000 after purchasing an additional 296 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Company Profile

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 develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.