Q2 2024 Earnings Estimate for Taylor Morrison Home Co. Issued By Wedbush (NYSE:TMHC)

Taylor Morrison Home Co. (NYSE:TMHC) – Analysts at Wedbush lifted their Q2 2024 earnings per share estimates for shares of Taylor Morrison Home in a research report issued on Wednesday, May 1st. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings per share of $1.83 for the quarter, up from their previous forecast of $1.66. 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 $7.29 per share. Wedbush also issued estimates for Taylor Morrison Home’s Q3 2024 earnings at $1.94 EPS, Q4 2024 earnings at $2.34 EPS, Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $2.02 EPS, Q3 2025 earnings at $2.33 EPS, Q4 2025 earnings at $2.52 EPS and FY2025 earnings at $8.60 EPS.

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

A number of other equities research analysts have also issued reports on the company. StockNews.com lowered 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. Barclays lifted their target price on shares of Taylor Morrison Home from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Royal Bank of Canada upped their price target on shares of Taylor Morrison Home from $61.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Zelman & Associates upgraded shares of Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.20.

Taylor Morrison Home Price Performance

NYSE TMHC opened at $57.20 on Friday. Taylor Morrison Home has a 1 year low of $37.23 and a 1 year high of $62.64. The business’s fifty day moving average is $57.61 and its two-hundred day moving average is $51.83. The stock has a market capitalization of $6.09 billion, a P/E ratio of 8.18 and a beta of 1.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.13 and a current ratio of 6.16.

Insider Activity at Taylor Morrison Home

In related news, Director William H. Lyon sold 164,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $60.33, for a total value of $9,894,120.00. Following the completion of the sale, the director now owns 43,570 shares of the company’s stock, valued at approximately $2,628,578.10. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director William H. Lyon sold 164,000 shares of Taylor Morrison Home stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $60.33, for a total value of $9,894,120.00. Following the completion of the sale, the director now owns 43,570 shares of the company’s stock, valued at approximately $2,628,578.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William H. Lyon sold 153,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $62.32, for a total transaction of $9,534,960.00. Following the completion of the sale, the director now owns 40,570 shares of the company’s stock, valued at $2,528,322.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 613,537 shares of company stock valued at $36,409,767. Insiders own 3.50% of the company’s stock.

Institutional Trading of Taylor Morrison Home

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMHC. Fuller & Thaler Asset Management Inc. lifted its position in Taylor Morrison Home by 117.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 3,180,341 shares of the construction company’s stock valued at $135,514,000 after purchasing an additional 1,714,897 shares during the period. Norges Bank bought a new stake in Taylor Morrison Home during the 4th quarter worth about $63,137,000. Allspring Global Investments Holdings LLC boosted its position in Taylor Morrison Home by 4,586.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 663,385 shares of the construction company’s stock valued at $41,243,000 after purchasing an additional 649,230 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Taylor Morrison Home by 3,268.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 452,087 shares of the construction company’s stock valued at $24,119,000 after buying an additional 438,664 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of Taylor Morrison Home by 99.3% during the 4th quarter. Assetmark Inc. now owns 786,812 shares of the construction company’s stock worth $41,976,000 after purchasing an additional 391,964 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

About Taylor Morrison Home

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.