Analysts Expect Meritage Homes Corp (MTH) Will Post Earnings of $0.74 Per Share

Wall Street analysts forecast that Meritage Homes Corp (NYSE:MTH) will report earnings per share (EPS) of $0.74 for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Meritage Homes’ earnings, with estimates ranging from $0.66 to $0.86. Meritage Homes posted earnings per share of $0.56 in the same quarter last year, which indicates a positive year-over-year growth rate of 32.1%. The business is expected to report its next earnings results on Thursday, April 26th.

On average, analysts expect that Meritage Homes will report full year earnings of $5.06 per share for the current fiscal year, with EPS estimates ranging from $4.93 to $5.20. For the next financial year, analysts expect that the company will report earnings of $5.73 per share, with EPS estimates ranging from $5.17 to $6.24. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Meritage Homes.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings results on Thursday, February 1st. The construction company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.09. Meritage Homes had a net margin of 4.44% and a return on equity of 10.76%. The firm had revenue of $946.40 million during the quarter, compared to the consensus estimate of $932.94 million. During the same period last year, the firm posted $1.22 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis.

Several equities analysts recently issued reports on MTH shares. Citigroup raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a report on Monday, January 8th. Zacks Investment Research downgraded shares of Meritage Homes from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. UBS Group started coverage on shares of Meritage Homes in a report on Wednesday, October 25th. They set a “neutral” rating and a $52.00 price target for the company. Credit Suisse Group raised shares of Meritage Homes from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $52.00 to $60.00 in a report on Monday, January 22nd. Finally, JMP Securities lifted their price target on shares of Meritage Homes from $55.00 to $57.00 and gave the company a “market outperform” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $50.11.

In other Meritage Homes news, Director Robert Gary Sarver sold 12,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $50.47, for a total value of $605,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Javier Feliciano sold 1,009 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,468 shares of company stock valued at $1,023,857. Insiders own 5.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MTH. Earnest Partners LLC raised its stake in shares of Meritage Homes by 18.7% in the fourth quarter. Earnest Partners LLC now owns 2,080,250 shares of the construction company’s stock worth $106,509,000 after acquiring an additional 327,413 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Meritage Homes by 2,460.0% in the fourth quarter. Renaissance Technologies LLC now owns 268,800 shares of the construction company’s stock worth $13,763,000 after acquiring an additional 258,300 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in shares of Meritage Homes by 122.4% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 399,441 shares of the construction company’s stock worth $17,735,000 after acquiring an additional 219,815 shares during the last quarter. BlackRock Inc. raised its stake in shares of Meritage Homes by 3.3% in the fourth quarter. BlackRock Inc. now owns 5,593,226 shares of the construction company’s stock worth $286,371,000 after acquiring an additional 176,270 shares during the last quarter. Finally, Emerald Advisers Inc. PA grew its position in shares of Meritage Homes by 41.9% during the 3rd quarter. Emerald Advisers Inc. PA now owns 509,502 shares of the construction company’s stock worth $22,622,000 after buying an additional 150,564 shares during the period. 96.01% of the stock is owned by institutional investors.

Shares of Meritage Homes (MTH) traded up $1.15 during mid-day trading on Friday, reaching $46.65. 269,494 shares of the company traded hands, compared to its average volume of 467,760. Meritage Homes has a 12-month low of $33.50 and a 12-month high of $55.50. The company has a market cap of $1,880.00, a P/E ratio of 13.64, a P/E/G ratio of 0.67 and a beta of 1.29. The company has a quick ratio of 0.70, a current ratio of 0.87 and a debt-to-equity ratio of 0.81.

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Meritage Homes Company Profile

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.

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