Taylor Morrison Home (TMHC) Gains As Market Dips: What You Should Know
Taylor Morrison Home (TMHC) closed at $46.70 in the latest trading session, marking a +1.32% move from the prior day. This change outpaced the S&P 500's 0.29% loss on the day. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 1.24%.
Prior to today's trading, shares of the home builder had lost 2% over the past month. This has lagged the Construction sector's gain of 5.17% and the S&P 500's gain of 3.1% in that time.
Investors will be hoping for strength from Taylor Morrison Home as it approaches its next earnings release, which is expected to be July 26, 2023. On that day, Taylor Morrison Home is projected to report earnings of $1.66 per share, which would represent a year-over-year decline of 26.87%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.69 billion, down 15.46% from the year-ago period.
TMHC's full-year Zacks Consensus Estimates are calling for earnings of $6.90 per share and revenue of $6.98 billion. These results would represent year-over-year changes of -26.2% and -15.18%, respectively.
Investors should also note any recent changes to analyst estimates for Taylor Morrison Home. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.59% higher. Taylor Morrison Home currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Taylor Morrison Home is holding a Forward P/E ratio of 6.68. This valuation marks a discount compared to its industry's average Forward P/E of 9.53.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 9, putting it in the top 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Taylor Morrison Home Corporation (TMHC) : Free Stock Analysis Report
