Taylor Morrison Home Co. (NYSE:TMHC) Expected to Post Q3 2024 Earnings of $1.96 Per Share

Taylor Morrison Home Co. (NYSE:TMHC) – Research analysts at Wedbush raised their Q3 2024 earnings per share estimates for shares of Taylor Morrison Home in a research report issued on Wednesday, July 24th. Wedbush analyst J. Mccanless now expects that the construction company will earn $1.96 per share for the quarter, up from their previous estimate of $1.94. Wedbush has a “Neutral” rating and a $65.00 price objective on the stock. The consensus estimate for Taylor Morrison Home’s current full-year earnings is $7.62 per share. Wedbush also issued estimates for Taylor Morrison Home’s Q4 2024 earnings at $2.45 EPS, FY2024 earnings at $8.21 EPS, Q1 2025 earnings at $1.77 EPS, Q2 2025 earnings at $2.15 EPS, Q3 2025 earnings at $2.34 EPS, Q4 2025 earnings at $2.71 EPS, FY2025 earnings at $9.13 EPS and FY2026 earnings at $9.74 EPS.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.57 by $0.18. Taylor Morrison Home had a net margin of 9.92% and a return on equity of 14.99%. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company earned $1.74 EPS. Taylor Morrison Home’s revenue was up 2.3% on a year-over-year basis.

TMHC has been the topic of a number of other reports. Barclays increased their price target on shares of Taylor Morrison Home from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday. Zelman & Associates raised shares of Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a research report on Friday, April 12th. Raymond James assumed coverage on shares of Taylor Morrison Home in a research report on Wednesday. They issued an “outperform” rating and a $75.00 price objective for the company. Royal Bank of Canada lifted their target price on Taylor Morrison Home from $63.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, StockNews.com downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $66.50.

Taylor Morrison Home Trading Down 0.1 %

NYSE:TMHC opened at $65.52 on Friday. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 9.37 and a beta of 1.95. Taylor Morrison Home has a 1-year low of $37.23 and a 1-year high of $67.66. The business’s 50-day moving average price is $57.77 and its two-hundred day moving average price is $56.75. The company has a current ratio of 6.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.39.

Insiders Place Their Bets

In other news, Director William H. Lyon sold 30,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $66.31, for a total value of $1,989,300.00. Following the sale, the director now directly owns 2,225,316 shares in the company, valued at $147,560,703.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Sheryl Palmer sold 100,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $61.70, for a total transaction of $6,170,000.00. Following the completion of the transaction, the chief executive officer now owns 19,211 shares in the company, valued at $1,185,318.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Lyon sold 30,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $66.31, for a total transaction of $1,989,300.00. Following the completion of the transaction, the director now directly owns 2,225,316 shares of the company’s stock, valued at approximately $147,560,703.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,000 shares of company stock worth $10,089,200. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Taylor Morrison Home

A number of large investors have recently modified their holdings of TMHC. Bailard Inc. boosted its position in Taylor Morrison Home by 49.4% during the second quarter. Bailard Inc. now owns 11,800 shares of the construction company’s stock valued at $654,000 after purchasing an additional 3,900 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Taylor Morrison Home by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,066,470 shares of the construction company’s stock valued at $59,125,000 after buying an additional 4,638 shares during the last quarter. Highland Capital Management LLC grew its stake in shares of Taylor Morrison Home by 14.3% in the second quarter. Highland Capital Management LLC now owns 3,819 shares of the construction company’s stock valued at $212,000 after buying an additional 478 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Taylor Morrison Home by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 14,831 shares of the construction company’s stock worth $822,000 after buying an additional 267 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Taylor Morrison Home during the second quarter worth $200,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.