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Meritage Homes Corp (NYSE:MTH) has earned an average rating of “Hold” from the ten brokerages that are currently covering the stock, Stock Ratings News reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $49.13.

Meritage Homes Corp (NYSE:MTH) opened at 41.95 on Friday. Meritage Homes Corp has a one year low of $37.19 and a one year high of $50.28. The stock’s 50-day moving average is $40.4 and its 200-day moving average is $41.8. The company has a market cap of $1.641 billion and a price-to-earnings ratio of 11.54.

Meritage Homes Corp (NYSE:MTH) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.82 by $0.03. The company had revenue of $502.80 million for the quarter, compared to the consensus estimate of $513.90 million. During the same quarter last year, the company posted $0.74 earnings per share. Meritage Homes Corp’s revenue was up 15.3% compared to the same quarter last year. On average, analysts predict that Meritage Homes Corp will post $3.37 earnings per share for the current fiscal year.

A number of research firms have recently commented on MTH. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Meritage Homes Corp in a research note on Monday, July 28th. They now have a $47.00 price target on the stock, down previously from $49.00. Separately, analysts at Barclays reiterated a “buy” rating on shares of Meritage Homes Corp in a research note on Friday, July 25th. They now have a $50.00 price target on the stock, up previously from $49.00. Finally, analysts at Citigroup Inc. upgraded shares of Meritage Homes Corp from a “neutral” rating to a “buy” rating in a research note on Monday, June 30th. They now have a $49.00 price target on the stock, up previously from $43.00.

Meritage Homes Corporation operates as holding company. The Company through its subsidiaries is a designer and builder of single-family detached homes based on the number of home closings.

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