Wedbush Weighs in on Taylor Morrison Home Co.’s Q2 2024 Earnings (NYSE:TMHC)

Taylor Morrison Home Co. (NYSE:TMHC) – Stock analysts at Wedbush lifted their Q2 2024 earnings per share estimates for shares of Taylor Morrison Home in a research report issued to clients and investors on Wednesday, May 1st. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings per share of $1.83 for the quarter, up from their previous estimate of $1.66. Wedbush currently has a “Neutral” rating and a $55.00 target price 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.

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

Taylor Morrison Home Price Performance

Shares of TMHC opened at $57.20 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.16 and a quick ratio of 1.13. Taylor Morrison Home has a 1-year low of $37.23 and a 1-year high of $62.64. The stock has a market cap of $6.09 billion, a PE ratio of 8.18 and a beta of 1.88. The firm has a fifty day moving average price of $57.61 and a 200 day moving average price of $51.91.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.18. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $1.74 EPS.

Insider Buying and Selling

In other news, Director William H. Lyon sold 164,000 shares of Taylor Morrison Home stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $60.33, for a total transaction of $9,894,120.00. Following the completion of the sale, the director now directly owns 43,570 shares in the company, valued at $2,628,578.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director William H. Lyon sold 164,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 43,570 shares in the company, valued at $2,628,578.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $62.32, for a total value of $9,534,960.00. Following the completion of the transaction, 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. In the last quarter, insiders sold 613,537 shares of company stock worth $36,409,767. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Taylor Morrison Home

A number of institutional investors and hedge funds have recently made changes to their positions in TMHC. Fuller & Thaler Asset Management Inc. increased 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 worth $135,514,000 after purchasing an additional 1,714,897 shares in the last quarter. Norges Bank acquired a new stake in shares of Taylor Morrison Home in the fourth quarter worth $63,137,000. Allspring Global Investments Holdings LLC increased its position in shares of Taylor Morrison Home by 4,586.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 663,385 shares of the construction company’s stock worth $41,243,000 after acquiring an additional 649,230 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Taylor Morrison Home by 3,268.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 452,087 shares of the construction company’s stock valued at $24,119,000 after acquiring an additional 438,664 shares during the period. Finally, Assetmark Inc. lifted its holdings 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 valued at $41,976,000 after acquiring an additional 391,964 shares in the last quarter. 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.