Taylor Morrison Home Corporation (TMHC) Expected to Announce Quarterly Sales of $1.24 Billion

Brokerages expect Taylor Morrison Home Corporation (NYSE:TMHC) to announce sales of $1.24 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Taylor Morrison Home Corporation’s earnings, with the highest sales estimate coming in at $1.28 billion and the lowest estimate coming in at $1.22 billion. Taylor Morrison Home Corporation posted sales of $1.20 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.3%. The company is scheduled to report its next earnings results on Monday, January 29th.

According to Zacks, analysts expect that Taylor Morrison Home Corporation will report full year sales of $1.24 billion for the current fiscal year, with estimates ranging from $3.75 billion to $3.85 billion. For the next financial year, analysts forecast that the business will post sales of $4.30 billion per share, with estimates ranging from $4.11 billion to $4.54 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Taylor Morrison Home Corporation.

Taylor Morrison Home Corporation (NYSE:TMHC) last issued its earnings results on Wednesday, November 1st. The construction company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $908.00 million for the quarter, compared to the consensus estimate of $914.19 million. Taylor Morrison Home Corporation had a net margin of 2.41% and a return on equity of 4.18%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share.

Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Taylor Morrison Home Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. B. Riley reiterated a “neutral” rating on shares of Taylor Morrison Home Corporation in a research note on Thursday, November 2nd. Deutsche Bank AG upped their target price on shares of Taylor Morrison Home Corporation from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research downgraded shares of Taylor Morrison Home Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, ValuEngine downgraded shares of Taylor Morrison Home Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $24.00.

Shares of Taylor Morrison Home Corporation (TMHC) traded down $0.16 during midday trading on Thursday, hitting $23.88. 558,100 shares of the stock traded hands, compared to its average volume of 1,147,911. The company has a market capitalization of $2,874.15, a P/E ratio of 12.93, a PEG ratio of 1.09 and a beta of 1.49. Taylor Morrison Home Corporation has a 52-week low of $18.26 and a 52-week high of $24.79. The company has a current ratio of 6.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

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In related news, insider C. David Cone sold 35,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $23.79, for a total transaction of $832,650.00. Following the transaction, the insider now owns 42,511 shares in the company, valued at $1,011,336.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its position in Taylor Morrison Home Corporation by 62.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock valued at $129,000 after purchasing an additional 2,060 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Taylor Morrison Home Corporation by 20.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,409 shares of the construction company’s stock valued at $154,000 after purchasing an additional 1,110 shares during the period. Great West Life Assurance Co. Can lifted its position in Taylor Morrison Home Corporation by 52.9% during the second quarter. Great West Life Assurance Co. Can now owns 6,882 shares of the construction company’s stock valued at $165,000 after purchasing an additional 2,382 shares during the period. UBS Group AG increased its holdings in Taylor Morrison Home Corporation by 4.7% during the first quarter. UBS Group AG now owns 6,909 shares of the construction company’s stock valued at $147,000 after buying an additional 307 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Taylor Morrison Home Corporation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,429 shares of the construction company’s stock valued at $178,000 after buying an additional 1,114 shares during the last quarter. Institutional investors own 59.29% of the company’s stock.

About Taylor Morrison Home Corporation

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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