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This Texas-based prime homebuilder continues to gain from industry-leading market share, solid acquisition strategy, a well-stocked supply of land, lots, and homes along with affordable product offerings across multiple brands.ĭ.R. Horton currently carries a Zacks Rank #3.
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Our VGM Score identifies stocks that have the most attractive value, growth and momentum characteristics.ĭ.R. This luxury homebuilder has an impressive VGM Score of A, supported by a Value Score of A. TMHC’s earnings surpassed analysts’ expectations in 19 of the trailing 22 quarters. Meanwhile, earnings estimates for 20 indicate 171.8% and 39.2% year-over-year growth, respectively. The company has solid prospects, as is evident from the Zacks Consensus Estimate for fourth-quarter earnings of $2.13 per share, which indicates 195.8% year-over-year growth. The company expects to spend $2 billion on land and development compared with $1.4 billion in 2020. In 2020, it generated GAAP home closings gross margin of 16.6% and SG&A of 9.8%. GAAP home closings gross margin is anticipated in the low-20% range, while SG&A, as a percentage of home closings revenues, is projected in the mid-9% range. Home closings and average active community count totaled 12,524 and 386, respectively, in 2020.
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GAAP home closings gross margin is likely to be 21% for the quarter (up from 18.3% reported in the prior-year period).įor 2021, home closings are expected to be 14,000 and average active community count is likely to be 335-340. For fourth-quarter 2020, home closings and average active community count were 3,082 and 368, respectively. Upbeat View: For fourth-quarter 2021, Taylor Morrison expects home closings of 4,600 homes and average active community count to be in line with the third quarter (338).
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Also, it acquired Urban Form Development, LLC, which primarily develops and constructs multi-use properties like combinations of commercial space, retail as well as multifamily units. The acquisition of William Lyon Homes - a national homebuilder and developer - on Feb 6 enabled the company to expand its geographic scope in all the three major markets - Washington, Oregon and Nevada. In fact, it has been witnessing good traction at lower price points.Īcquisition & Geographical Expansion: Acquisitions are an important part of Taylor Morrison’s growth strategy. Also, it is fulfilling the needs of millennials and baby boomers who want affordable homes and highly-desirable communities. In addition to focusing on the buyers market, it has been building homes on a spec basis, which means a new property is finished or nearly completed before it is sold. Move-up buyers have represented the most consistent behavior since 2020 with record sales and low cancellations, followed by first-time buyers. It has been witnessing solid demand, especially from first-time buyers. The company’s impressive surprise history is a testimony to the fact. Net sales order and backlog as of improved 24.8% and 63.2%, respectively.īusiness Initiatives: Taylor Morrison has a trend of generating improved profits backed by various strategic initiatives. Also, robust housing market conditions added to its bliss. The results benefited from solid execution of homebuilding and financial services businesses. October home sales data depicts the true picture of the same.įor the first nine months of 2021, Taylor Morrison reported revenue and earnings per share growth of 9.3% and 160.3% year over year, respectively. housing market is witnessing an impressive comeback on major data points post COVID-led shutdowns, with home sales rising at a record pace, defying low inventory levels, broad-based public health risks and supply chain woes. Let’s delve deeper into the factors supporting growth.įavorable Housing Backdrop: The U.S. The three companies have also gained 57.1%, 58.2%, and 68.6%, respectively, in the past year. TOL also achieved their respective 52-week high of $109.76, $117.25, and $74.67 on Friday. DHI, Lennar Corporation LEN, and Toll Brothers, Inc.