Equities research analysts expect Meritage Homes Co. (NYSE:MTH) to announce $0.74 earnings per share for the current quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Meritage Homes’ earnings, with estimates ranging from $0.66 to $0.86. Meritage Homes reported earnings of $0.56 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 32.1%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, April 25th.
According to Zacks, 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 anticipate that the business will report earnings of $5.74 per share, with EPS estimates ranging from $5.17 to $6.24. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Meritage Homes.
Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Thursday, February 1st. The construction company reported $1.34 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $946.40 million for the quarter, compared to analysts’ expectations of $932.94 million. During the same period in the prior year, the firm earned $1.22 earnings per share. Meritage Homes’s revenue was up 7.5% compared to the same quarter last year.
A number of brokerages have issued reports on MTH. Citigroup raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Monday, January 8th. Zacks Investment Research cut shares of Meritage Homes from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Meritage Homes in a research note on Wednesday, March 21st. JMP Securities raised their price objective on shares of Meritage Homes from $55.00 to $57.00 and gave the company a “market outperform” rating in a research note on Friday, February 2nd. Finally, Credit Suisse Group raised shares of Meritage Homes from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $52.00 to $60.00 in a research note on Monday, January 22nd. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $52.45.
Shares of MTH traded down $0.90 during mid-day trading on Tuesday, hitting $42.75. 351,387 shares of the company traded hands, compared to its average volume of 346,310. Meritage Homes has a one year low of $37.70 and a one year high of $55.50. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $1,724.15, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 0.63 and a beta of 1.19.
In other news, Director Peter L. Ax sold 12,500 shares of Meritage Homes stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $44.02, for a total transaction of $550,250.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Hilla Sferruzza sold 589 shares of Meritage Homes stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $45.20, for a total transaction of $26,622.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,968 shares of company stock worth $1,149,987. Insiders own 5.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System boosted its position in shares of Meritage Homes by 2.2% during the third quarter. California Public Employees Retirement System now owns 51,400 shares of the construction company’s stock worth $2,282,000 after purchasing an additional 1,100 shares in the last quarter. Connable Office Inc. boosted its position in shares of Meritage Homes by 23.2% during the fourth quarter. Connable Office Inc. now owns 7,482 shares of the construction company’s stock worth $383,000 after purchasing an additional 1,407 shares in the last quarter. Swiss National Bank boosted its position in shares of Meritage Homes by 3.0% during the fourth quarter. Swiss National Bank now owns 64,600 shares of the construction company’s stock worth $3,308,000 after purchasing an additional 1,900 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Meritage Homes by 6.9% during the fourth quarter. First Trust Advisors LP now owns 51,429 shares of the construction company’s stock worth $2,633,000 after purchasing an additional 3,310 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Meritage Homes during the fourth quarter worth $232,000. 95.24% of the stock is currently owned by institutional investors.
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Meritage Homes Company Profile
Meritage Homes Corporation designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.
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