Meritage Homes Corp Receives Consensus Recommendation of “Hold” from Analysts (NYSE:MTH)
Meritage Homes Corp (NYSE:MTH) has received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Analyst Ratings Net reports. One 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 1-year price target among brokers that have updated their coverage on the stock in the last year is $49.13.
MTH has been the subject of a number of recent research reports. 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.
Shares of Meritage Homes Corp (NYSE:MTH) opened at 41.34 on Friday. Meritage Homes Corp has a 52 week low of $37.19 and a 52 week high of $50.28. The stock has a 50-day moving average of $40.47 and a 200-day moving average of $41.73. The company has a market cap of $1.617 billion and a P/E ratio of 11.46.
Meritage Homes Corp (NYSE:MTH) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Analysts expect that Meritage Homes Corp will post $3.37 EPS for the current fiscal year.
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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