Wall Street brokerages expect that Meritage Homes Corp (NYSE:MTH) will post earnings of $1.02 per share for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Meritage Homes’ earnings. The lowest EPS estimate is $0.99 and the highest is $1.05. Meritage Homes reported earnings per share of $1.31 in the same quarter last year, which would suggest a negative year-over-year growth rate of 22.1%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, July 24th.
According to Zacks, analysts expect that Meritage Homes will report full-year earnings of $4.81 per share for the current fiscal year, with EPS estimates ranging from $4.70 to $4.95. For the next financial year, analysts anticipate that the company will report earnings of $5.25 per share, with EPS estimates ranging from $4.53 to $5.75. Zacks’ EPS calculations are an average based on a survey of research firms that cover Meritage Homes.
Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Tuesday, April 23rd. The construction company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. Meritage Homes had a return on equity of 12.18% and a net margin of 6.00%. The company had revenue of $699.00 million during the quarter, compared to the consensus estimate of $636.66 million. During the same period last year, the company earned $1.07 earnings per share. The firm’s revenue was down 4.0% compared to the same quarter last year.
A number of brokerages have recently issued reports on MTH. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, July 8th. Zelman & Associates upgraded Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $44.31.
In related news, COO Phillippe Lord sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $50.75, for a total transaction of $152,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Hilla Sferruzza sold 5,300 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $50.75, for a total value of $268,975.00. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Dalton Greiner Hartman Maher & Co. purchased a new position in Meritage Homes during the second quarter worth about $5,839,000. Crossmark Global Holdings Inc. grew its position in Meritage Homes by 2.8% during the second quarter. Crossmark Global Holdings Inc. now owns 11,610 shares of the construction company’s stock worth $596,000 after buying an additional 320 shares in the last quarter. GYL Financial Synergies LLC purchased a new position in Meritage Homes during the first quarter worth about $650,000. Acadian Asset Management LLC grew its position in Meritage Homes by 454.3% during the first quarter. Acadian Asset Management LLC now owns 31,219 shares of the construction company’s stock worth $1,397,000 after buying an additional 25,587 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Meritage Homes by 0.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 182,918 shares of the construction company’s stock worth $8,178,000 after purchasing an additional 1,256 shares in the last quarter. 96.59% of the stock is owned by hedge funds and other institutional investors.
Shares of MTH traded up $0.91 during mid-day trading on Thursday, reaching $55.46. 213,400 shares of the company were exchanged, compared to its average volume of 379,646. Meritage Homes has a 52 week low of $32.02 and a 52 week high of $55.66. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $2.11 billion, a PE ratio of 9.93, a PEG ratio of 1.20 and a beta of 1.08. The stock has a 50 day simple moving average of $51.88.
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 first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.
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