Brokerages expect Meritage Homes Corp (NYSE:MTH) to announce $1.16 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have provided estimates for Meritage Homes’ earnings, with estimates ranging from $1.05 to $1.27. Meritage Homes posted earnings of $0.98 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 18.4%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 7th.
On average, analysts expect that Meritage Homes will report full-year earnings of $5.38 per share for the current fiscal year, with EPS estimates ranging from $4.93 to $5.65. For the next year, analysts expect that the firm will post earnings of $5.81 per share, with EPS estimates ranging from $5.17 to $6.26. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Meritage Homes.
Get Meritage Homes alerts:Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Wednesday, April 25th. The construction company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.34. The company had revenue of $742.56 million for the quarter, compared to analyst estimates of $707.37 million. Meritage Homes had a return on equity of 11.76% and a net margin of 4.96%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share.
Several equities analysts have issued reports on MTH shares. Zacks Investment Research raised Meritage Homes from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Thursday, February 1st. ValuEngine raised Meritage Homes from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Barclays raised Meritage Homes from an “underweight” rating to an “equal weight” rating in a report on Friday, February 2nd. JMP Securities raised their price objective on Meritage Homes from $55.00 to $57.00 and gave the stock a “market outperform” rating in a report on Friday, February 2nd. Finally, Bank of America raised their price objective on Meritage Homes from $51.00 to $55.00 and gave the stock an “underperform” rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $51.64.
Shares of Meritage Homes traded up $1.35, hitting $45.90, during mid-day trading on Tuesday, MarketBeat Ratings reports. 335,306 shares of the stock were exchanged, compared to its average volume of 312,648. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.61 and a beta of 1.19. Meritage Homes has a 12-month low of $38.80 and a 12-month high of $55.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.84 and a current ratio of 0.84.
In other news, insider Phillippe Lord sold 5,009 shares of the stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $43.40, for a total transaction of $217,390.60. Following the completion of the sale, the insider now owns 7,882 shares in the company, valued at $342,078.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter L. Ax sold 12,500 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $44.02, for a total transaction of $550,250.00. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System lifted its position in Meritage Homes by 224.6% in the fourth quarter. Arizona State Retirement System now owns 63,710 shares of the construction company’s stock valued at $3,262,000 after purchasing an additional 44,082 shares during the period. HAP Trading LLC lifted its position in Meritage Homes by 140.5% in the fourth quarter. HAP Trading LLC now owns 45,508 shares of the construction company’s stock valued at $2,330,000 after purchasing an additional 26,586 shares during the period. Fox Run Management L.L.C. acquired a new stake in Meritage Homes in the fourth quarter valued at about $460,000. Pinebridge Investments L.P. lifted its position in Meritage Homes by 53.4% in the fourth quarter. Pinebridge Investments L.P. now owns 63,945 shares of the construction company’s stock valued at $3,274,000 after purchasing an additional 22,250 shares during the period. Finally, BlackRock Inc. lifted its position in Meritage Homes by 3.3% in the fourth quarter. BlackRock Inc. now owns 5,593,226 shares of the construction company’s stock valued at $286,371,000 after purchasing an additional 176,270 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.
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 various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.
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