Share Repurchase Program Authorized by Taylor Morrison Home (TMHC)

Taylor Morrison Home (NYSE:TMHC) announced that its Board of Directors has initiated a share repurchase plan, which permits the company to repurchase $200.00 million in shares on Wednesday, January 3rd, EventVestor reports. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

A number of analysts recently issued reports on the company. Barclays set a $27.00 target price on Taylor Morrison Home and gave the company a “hold” rating in a research report on Monday. Zacks Investment Research cut Taylor Morrison Home from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Wells Fargo & Co raised Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research report on Friday, January 5th. Susquehanna Bancshares raised Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday, January 4th. Finally, UBS Group raised Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $27.67.

Taylor Morrison Home (NYSE TMHC) opened at $28.41 on Friday. The company has a quick ratio of 0.81, a current ratio of 6.85 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3,330.00, a P/E ratio of 45.82, a P/E/G ratio of 0.98 and a beta of 1.47. Taylor Morrison Home has a one year low of $18.26 and a one year high of $28.42.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $908.00 million during the quarter, compared to the consensus estimate of $914.19 million. Taylor Morrison Home had a return on equity of 4.18% and a net margin of 2.41%. Taylor Morrison Home’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. equities analysts predict that Taylor Morrison Home will post 1.84 earnings per share for the current fiscal year.

In other Taylor Morrison Home news, insider C. David Cone sold 35,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $23.79, for a total transaction of $832,650.00. Following the completion of the transaction, the insider now owns 42,511 shares of the company’s stock, valued at $1,011,336.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

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About Taylor Morrison Home

Taylor Morrison Home Corporation 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).

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