Meritage Homes (NYSE:MTH – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 19.200-20.700 for the period, compared to the consensus EPS estimate of 17.690. The company issued revenue guidance of -. Meritage Homes also updated its FY24 guidance to $19.20-20.70 EPS.
Meritage Homes Trading Down 2.2 %
MTH stock traded down $3.50 during trading on Wednesday, reaching $154.69. 452,787 shares of the stock traded hands, compared to its average volume of 399,753. The business’s 50 day moving average price is $159.01 and its 200-day moving average price is $152.49. The firm has a market capitalization of $5.62 billion, a PE ratio of 7.77 and a beta of 1.77. Meritage Homes has a 52-week low of $109.23 and a 52-week high of $179.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.77 and a quick ratio of 1.77.
Meritage Homes (NYSE:MTH – Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The construction company reported $5.38 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.20. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Meritage Homes had a return on equity of 17.03% and a net margin of 12.03%. As a group, sell-side analysts forecast that Meritage Homes will post 17.78 earnings per share for the current year.
Meritage Homes Increases Dividend
Analysts Set New Price Targets
Several research analysts recently commented on MTH shares. Zelman & Associates upgraded Meritage Homes from a neutral rating to an outperform rating in a research note on Monday, February 26th. Wedbush cut Meritage Homes from a neutral rating to an underperform rating and cut their price target for the stock from $155.00 to $148.00 in a research note on Tuesday, April 2nd. Seaport Res Ptn cut Meritage Homes from a buy rating to a neutral rating in a research note on Monday, January 22nd. The Goldman Sachs Group upped their price objective on Meritage Homes from $151.00 to $182.00 and gave the company a neutral rating in a research note on Thursday, January 11th. Finally, StockNews.com cut Meritage Homes from a buy rating to a hold rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Meritage Homes presently has an average rating of Hold and a consensus price target of $172.67.
Check Out Our Latest Report on Meritage Homes
Insider Buying and Selling
In related news, CAO Alison Sasser sold 355 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $152.61, for a total value of $54,176.55. Following the completion of the transaction, the chief accounting officer now directly owns 869 shares of the company’s stock, valued at approximately $132,618.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Meritage Homes news, CAO Alison Sasser sold 355 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $152.61, for a total value of $54,176.55. Following the completion of the sale, the chief accounting officer now directly owns 869 shares in the company, valued at $132,618.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phillippe Lord sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $162.79, for a total value of $406,975.00. Following the completion of the sale, the chief executive officer now owns 100,266 shares of the company’s stock, valued at $16,322,302.14. The disclosure for this sale can be found here. Insiders sold 3,998 shares of company stock valued at $635,171 in the last three months. 2.00% of the stock is currently owned by corporate insiders.
About Meritage Homes
Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached 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 entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.
Featured Stories
- Five stocks we like better than Meritage Homes
- 3 Healthcare Dividend Stocks to Buy
- High-Yield Texas Instruments Could Hit New Highs Soon
- How to Use the MarketBeat Excel Dividend Calculator
- Pagaya Technologies: An AI Fintech That Insiders Are Buying
- How to Effectively Use the MarketBeat Ratings Screener
- Higher Oil Prices Could Give NextEra’s Stock Earnings a Boost
Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.