Meritage Corporation (NYSE:MTH) – Investment analysts at JMP Securities increased their Q1 2018 earnings per share (EPS) estimates for Meritage Corporation in a research note issued on Wednesday. JMP Securities analyst P. Martin now anticipates that the construction company will post earnings of $0.62 per share for the quarter, up from their prior forecast of $0.59. JMP Securities also issued estimates for Meritage Corporation’s Q2 2018 earnings at $1.01 EPS and Q3 2018 earnings at $1.14 EPS.

A number of other research firms have also issued reports on MTH. Bank of America Corporation restated an “underperform” rating and issued a $38.00 target price (up from $36.00) on shares of Meritage Corporation in a report on Wednesday, June 28th. BidaskClub upgraded shares of Meritage Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Barclays PLC restated an “underweight” rating on shares of Meritage Corporation in a report on Thursday, July 13th. Deutsche Bank AG upped their target price on shares of Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded shares of Meritage Corporation from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Meritage Corporation has a consensus rating of “Hold” and an average price target of $41.13.

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Shares of Meritage Corporation (MTH) opened at 48.40 on Monday. The firm has a market capitalization of $1.95 billion, a PE ratio of 13.32 and a beta of 1.48. Meritage Corporation has a 52-week low of $29.70 and a 52-week high of $48.70. The company’s 50-day moving average is $43.66 and its 200 day moving average is $41.47.

Meritage Corporation (NYSE:MTH) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.23. Meritage Corporation had a net margin of 4.94% and a return on equity of 10.74%. The firm had revenue of $802.00 million during the quarter, compared to analysts’ expectations of $760.39 million. During the same period last year, the business earned $0.95 earnings per share. Meritage Corporation’s revenue was up .5% compared to the same quarter last year.

Several hedge funds and other institutional investors have recently bought and sold shares of MTH. BlackRock Inc. increased its stake in shares of Meritage Corporation by 53,081.0% during the 1st quarter. BlackRock Inc. now owns 5,361,172 shares of the construction company’s stock valued at $197,292,000 after acquiring an additional 5,351,091 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Meritage Corporation by 23.8% during the 2nd quarter. Earnest Partners LLC now owns 1,715,636 shares of the construction company’s stock valued at $72,400,000 after acquiring an additional 329,380 shares during the last quarter. Balyasny Asset Management LLC increased its stake in shares of Meritage Corporation by 91.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 407,297 shares of the construction company’s stock valued at $17,188,000 after acquiring an additional 194,710 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Meritage Corporation by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 3,297,377 shares of the construction company’s stock valued at $121,343,000 after acquiring an additional 165,702 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Meritage Corporation by 11.7% during the 1st quarter. State Street Corp now owns 934,609 shares of the construction company’s stock valued at $34,391,000 after acquiring an additional 98,150 shares during the last quarter. 98.18% of the stock is owned by institutional investors.

In other news, EVP Javier Feliciano sold 1,009 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total transaction of $35,869.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

Meritage Corporation Company Profile

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.

Earnings History and Estimates for Meritage Corporation (NYSE:MTH)

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