Taylor Morrison Home (NYSE:TMHC) Announces Quarterly Earnings Results

Key Points

• Taylor Morrison Home (NYSE:TMHC) reported a quarterly earnings per share (EPS) of $2.11, exceeding analysts' expectations of $1.96.
• The company experienced a 1.2% decline in revenue compared to the same quarter last year, when they posted an EPS of $2.40.
• Insider transactions revealed significant sales, with the CFO selling 9,754 shares and the CEO selling 25,000 shares of the company's stock, indicating a decrease in insider ownership.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) issued its quarterly earnings data on Wednesday. The construction company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.93 by $0.18, Zacks reports. Taylor Morrison Home had a net margin of 10.72% and a return on equity of 16.22%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business posted $2.40 earnings per share. Taylor Morrison Home's quarterly revenue was down 1.2% compared to the same quarter last year.

Taylor Morrison Home Price Performance

Taylor Morrison Home stock traded down $1.98 during mid-day trading on Wednesday, hitting $60.62. The stock had a trading volume of 1,670,170 shares, compared to its average volume of 1,095,483. The firm has a market capitalization of $6.08 billion, a P/E ratio of 7.00 and a beta of 1.61. The company has a current ratio of 6.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. The firm's 50 day moving average is $66.67 and its 200 day moving average is $62.09. Taylor Morrison Home has a one year low of $51.90 and a one year high of $75.49.

Insider Buying and Selling

In related news, Director Anne L. Mariucci sold 14,002 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $70.00, for a total value of $980,140.00. Following the completion of the transaction, the director owned 48,191 shares of the company's stock, valued at approximately $3,373,370. This represents a 22.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Curtis Vanhyfte sold 9,754 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $65.22, for a total transaction of $636,155.88. Following the completion of the transaction, the chief financial officer directly owned 14,163 shares of the company's stock, valued at $923,710.86. This represents a 40.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,351 shares of company stock valued at $4,700,630. Company insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Taylor Morrison Home by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,888 shares of the construction company's stock valued at $18,005,000 after purchasing an additional 16,379 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Taylor Morrison Home by 30.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 899 shares of the construction company's stock worth $55,000 after acquiring an additional 211 shares in the last quarter. M&T Bank Corp bought a new stake in Taylor Morrison Home during the second quarter worth approximately $262,000. EverSource Wealth Advisors LLC increased its stake in Taylor Morrison Home by 406.8% during the second quarter. EverSource Wealth Advisors LLC now owns 897 shares of the construction company's stock worth $55,000 after acquiring an additional 720 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Taylor Morrison Home by 12.0% in the 2nd quarter. Marshall Wace LLP now owns 8,029 shares of the construction company's stock valued at $493,000 after purchasing an additional 859 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TMHC. Weiss Ratings reiterated a "buy (b)" rating on shares of Taylor Morrison Home in a report on Wednesday, October 8th. Bank of America lowered their target price on shares of Taylor Morrison Home from $75.00 to $72.00 and set a "buy" rating for the company in a report on Friday, October 10th. Finally, Seaport Res Ptn upgraded shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to MarketBeat.com, Taylor Morrison Home has a consensus rating of "Buy" and a consensus target price of $77.13.

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.