Taylor Morrison Home Corporatio (NYSE:TMHC):
Taylor Morrison Reports Third Quarter Earnings per Share of $0.45, Year-over-year Growth in Closings and Net Income of $54 million.
The company is now up since yesterday’s close of $24.15.
Taylor Morrison Home Corporation, launched on November 15, 2012, is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title). It operates under the Taylor Morrison and Darling Homes brand names. The Company also provides financial services to customers through its mortgage subsidiary, TMHF, and title insurance and closing settlement services through its title company, Inspired Title. Its business is organized into multiple homebuilding operating divisions and a mortgage and title services division. The Company has operations in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas..
Company shares are trading at $24.15 barely above the 50 day moving average of $22.18 and which is marginally over the 200 day moving average of $22.69. The 50 day moving average went up $1.97 or +8.89% and the 200 day average was up $1.46.
The P/E ratio is currently 14.54 and the market cap is 1.75B. As of the last earnings report the EPS was $1.66 and is expected to be $1.90 for the current year with 72,492,000 shares outstanding. Next quarter’s EPS is estimated at $0.71 with next year’s EPS projected to be $2.23.
Investors are more bullish on shares of Taylor Morrison Home Corporatio recently if you watch the downtick in short interest. The firm had a fall in short interest of -28.06% as of October 13, 2017 from the last reporting period. Short interest fell 437,159 over that timeframe. With short interest at 1,120,685 and short average daily volume at 799,058, days to cover is 1.0 and the percentage of shorted shares is 0.02% as of October 13.
A few investment analysts have released opinions on the company of late. August 7 investment analysts at Deutsche Bank maintained a stock rating of “Buy” and moved up the price target to $27.00 from $20.00.