Analysts predict that Meritage Homes Corp (NYSE:MTH) will report $840.07 million in sales for the current fiscal quarter, according to Zacks. Eleven analysts have issued estimates for Meritage Homes’ earnings, with the lowest sales estimate coming in at $809.87 million and the highest estimate coming in at $892.24 million. Meritage Homes reported sales of $801.98 million during the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The firm is expected to announce its next earnings results on Tuesday, August 7th.
On average, analysts expect that Meritage Homes will report full year sales of $3.61 billion for the current fiscal year, with estimates ranging from $3.55 billion to $3.68 billion. For the next year, analysts anticipate that the business will report sales of $3.88 billion per share, with estimates ranging from $3.65 billion to $4.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Meritage Homes.
Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, April 25th. The construction company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.34. Meritage Homes had a return on equity of 11.76% and a net margin of 4.96%. The business had revenue of $742.56 million during the quarter, compared to analysts’ expectations of $707.37 million. During the same quarter in the previous year, the firm earned $0.56 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year.
MTH has been the subject of several research analyst reports. ValuEngine cut Meritage Homes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. raised Meritage Homes from a “neutral” rating to an “overweight” rating and upped their price target for the company from $44.75 to $58.00 in a report on Wednesday, March 7th. Wedbush initiated coverage on Meritage Homes in a report on Tuesday, March 20th. They issued an “outperform” rating and a $55.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 price target on shares of Meritage Homes in a report on Wednesday, March 21st. Finally, Zacks Investment Research cut Meritage Homes from a “buy” rating to a “hold” rating in a report on Wednesday, April 4th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $52.00.
In other news, insider Phillippe Lord sold 5,009 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $43.40, for a total value of $217,390.60. Following the completion of the transaction, the insider now directly owns 7,882 shares of the company’s stock, valued at approximately $342,078.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP C Timothy White sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $46.25, for a total value of $370,000.00. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Mount Yale Investment Advisors LLC acquired a new position in shares of Meritage Homes in the 1st quarter worth approximately $104,000. Allianz Asset Management GmbH acquired a new position in shares of Meritage Homes in the 1st quarter worth approximately $464,000. Principal Financial Group Inc. raised its holdings in shares of Meritage Homes by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 297,794 shares of the construction company’s stock worth $13,475,000 after buying an additional 10,025 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Meritage Homes by 70.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 7,723 shares of the construction company’s stock worth $349,000 after buying an additional 3,200 shares in the last quarter. Finally, Atlantic Trust Group LLC acquired a new position in shares of Meritage Homes in the 1st quarter worth approximately $1,851,000. 93.12% of the stock is owned by institutional investors and hedge funds.
NYSE MTH opened at $43.85 on Wednesday. Meritage Homes has a twelve month low of $38.80 and a twelve month high of $55.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.77 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 0.56 and a beta of 1.20.
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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