Stock Story -
Homebuilder Taylor Morrison Home (NYSE:TMHC) will be reporting earnings tomorrow before the bell. Here's what you need to know.
Taylor Morrison Home beat analysts' revenue expectations by 2.7% last quarter, reporting revenues of $1.7 billion, up 2.3% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts' backlog sales estimates and a decent beat of analysts' earnings estimates.
Is Taylor Morrison Home a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Taylor Morrison Home's revenue to decline 7.4% year on year to $1.91 billion, a reversal from the 3.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.94 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Taylor Morrison Home has missed Wall Street's revenue estimates twice over the last two years.
Looking at Taylor Morrison Home's peers in the home builders segment, some have already reported their Q2 results, giving us a hint as to what we can expect. KB Home's revenues decreased 3.1% year on year, beating analysts' expectations by 3.4%, and Lennar (NYSE:LEN) reported revenues up 9%, topping estimates by 2.5%. KB Home traded up 2.8% following the results while Lennar was down 5%.
Read the full analysis of KB Home's and Lennar's results on StockStory.
There has been positive sentiment among investors in the home builders segment, with share prices up 6.5% on average over the last month. Taylor Morrison Home is up 15.5% during the same time and is heading into earnings with an average analyst price target of $65.4 (compared to the current share price of $65.47).
