Taylor Morrison Home (TMHC) Outpaces Stock Market Gains: What You Should Know
Taylor Morrison Home (TMHC) closed at $48.03 in the latest trading session, marking a +0.67% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.99%.
Coming into today, shares of the home builder had gained 12.44% in the past month. In that same time, the Construction sector gained 13.24%, while the S&P 500 gained 4.25%.
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 $1.62 per share, which would represent a year-over-year decline of 28.63%. Meanwhile, our latest consensus estimate is calling for revenue of $1.68 billion, down 15.76% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.81 per share and revenue of $6.98 billion, which would represent changes of -27.17% and -15.18%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Taylor Morrison Home. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.22% higher. Taylor Morrison Home currently has a Zacks Rank of #2 (Buy).
Investors should also note Taylor Morrison Home's current valuation metrics, including its Forward P/E ratio of 7.01. This valuation marks a discount compared to its industry's average Forward P/E of 10.32.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Taylor Morrison Home Corporation (TMHC) : Free Stock Analysis Report
