Taylor Morrison Home (NYSE:TMHC) Releases Quarterly Earnings Results, Beats Estimates By $0.30 EPS
by Jessica Moore · The Cerbat GemTaylor Morrison Home (NYSE:TMHC – Get Free Report) posted its earnings results on Wednesday. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.30, FiscalAI reports. Taylor Morrison Home had a return on equity of 13.50% and a net margin of 9.63%.The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company earned $2.07 EPS. The company’s revenue for the quarter was down 26.8% compared to the same quarter last year.
Taylor Morrison Home Stock Up 6.0%
Shares of TMHC traded up $3.70 on Wednesday, hitting $65.64. The company’s stock had a trading volume of 236,769 shares, compared to its average volume of 1,172,154. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 8.67 and a beta of 1.58. The firm’s fifty day moving average price is $61.51 and its 200-day moving average price is $61.43. The company has a quick ratio of 1.55, a current ratio of 7.31 and a debt-to-equity ratio of 0.36. Taylor Morrison Home has a fifty-two week low of $54.58 and a fifty-two week high of $72.50.
Institutional Investors Weigh In On Taylor Morrison Home
Several institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its stake in Taylor Morrison Home by 2.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,398,394 shares of the construction company’s stock valued at $141,194,000 after acquiring an additional 60,236 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Taylor Morrison Home by 10.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,690 shares of the construction company’s stock valued at $1,277,000 after acquiring an additional 2,002 shares in the last quarter. Vident Advisory LLC lifted its stake in Taylor Morrison Home by 5.3% in the 4th quarter. Vident Advisory LLC now owns 18,747 shares of the construction company’s stock valued at $1,104,000 after acquiring an additional 943 shares in the last quarter. Empowered Funds LLC lifted its stake in Taylor Morrison Home by 19.6% in the 4th quarter. Empowered Funds LLC now owns 203,973 shares of the construction company’s stock valued at $12,008,000 after acquiring an additional 33,472 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Taylor Morrison Home by 611.5% in the 4th quarter. Voloridge Investment Management LLC now owns 171,667 shares of the construction company’s stock valued at $10,106,000 after acquiring an additional 147,540 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.
Analyst Upgrades and Downgrades
TMHC has been the subject of several research analyst reports. Bank of America decreased their price objective on Taylor Morrison Home from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday. Seaport Research Partners reiterated a “sell” rating and issued a $49.00 price objective (down from $85.00) on shares of Taylor Morrison Home in a research report on Tuesday, April 7th. Citigroup initiated coverage on Taylor Morrison Home in a research report on Wednesday, January 7th. They issued an “outperform” rating for the company. Citizens Jmp initiated coverage on Taylor Morrison Home in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $95.00 price objective for the company. Finally, Truist Financial decreased their price objective on Taylor Morrison Home from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.33.
Check Out Our Latest Report on TMHC
Taylor Morrison Home Company Profile
Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.
The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.