Equities analysts expect Meritage Homes Corp (NYSE:MTH) to announce sales of $804.72 million for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Meritage Homes’ earnings, with estimates ranging from $785.42 million to $823.04 million. Meritage Homes posted sales of $872.38 million in the same quarter last year, which would indicate a negative year over year growth rate of 7.8%. The business is expected to announce its next earnings results after the market closes on Wednesday, July 24th.
According to Zacks, analysts expect that Meritage Homes will report full year sales of $3.38 billion for the current fiscal year, with estimates ranging from $3.30 billion to $3.43 billion. For the next fiscal year, analysts forecast that the firm will post sales of $3.54 billion, with estimates ranging from $3.38 billion to $3.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Meritage Homes.
Meritage Homes (NYSE:MTH) last released its earnings results on Tuesday, April 23rd. The construction company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Meritage Homes had a return on equity of 12.18% and a net margin of 6.00%. The firm had revenue of $699.00 million during the quarter, compared to the consensus estimate of $636.66 million. During the same period in the prior year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year.
A number of equities research analysts have recently commented on MTH shares. 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 investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Meritage Homes currently has a consensus rating of “Hold” and an average target price of $44.31.
Shares of NYSE:MTH traded down $0.03 on Friday, reaching $54.85. 262,166 shares of the company traded hands, compared to its average volume of 378,041. Meritage Homes has a fifty-two week low of $32.02 and a fifty-two week high of $55.81. The firm has a 50 day simple moving average of $52.13. The stock has a market cap of $2.10 billion, a PE ratio of 9.83, a PEG ratio of 1.21 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.32 and a quick ratio of 1.32.
In other news, CFO Hilla Sferruzza sold 5,300 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $50.75, for a total value of $268,975.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Phillippe Lord sold 3,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $50.75, for a total transaction of $152,250.00. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in shares of Meritage Homes by 126.0% in the fourth quarter. Captrust Financial Advisors now owns 1,096 shares of the construction company’s stock worth $40,000 after acquiring an additional 611 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Meritage Homes during the first quarter worth $57,000. PNC Financial Services Group Inc. increased its position in Meritage Homes by 25.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,804 shares of the construction company’s stock worth $103,000 after buying an additional 572 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Meritage Homes by 11.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,943 shares of the construction company’s stock worth $108,000 after buying an additional 304 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Meritage Homes by 18.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,068 shares of the construction company’s stock worth $137,000 after buying an additional 481 shares during the last quarter. 96.59% of the stock is currently owned by institutional investors and hedge funds.
About Meritage Homes
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.
See Also: Leveraged Buyout (LBO)
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