Home-builder earnings may surprise to the upside despite the aging cycle [MarketWatch]
Taylor Morrison Home Corporation (TMHC)
Last taylor morrison home corporation earnings: 2/5 06:55 am
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Source: MarketWatch
Home-builder earnings may surprise to the upside despite the aging cycle 2018 was a rocky year for the housing market, and many media reports — including from MarketWatch — speculated that the top of the cycle had been reached . About a year later, that call seems to have been confirmed . But the cycle peak hasn’t led to a recession. Instead, the housing market looks to have come in for a soft landing and is now bouncing along. And that may be enough for residential builders to notch a favorable earnings season. Wedbush Securities home-builder analyst Jay McCanless called himself “cautiously optimistic” in a note published in mid-July. Results from companies reporting earlier, such as Lennar LEN, -0.58% and KB Home KBH, -1.16% , “bolster our view that order growth has bottomed and should turn positive this quarter,” McCanless said. For one thing, poor sales in 2018 make this year look good by comparison, he acknowledged, going on to say “declining mortgage rates for most of the
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News
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- Taylor Morrison Home Co. (NYSE: TMHC) was upgraded by analysts at Wedbush from a "neutral" rating to an "outperform" rating. They now have a $85.00 price target on the stock.MarketBeat