Zacks: Analysts Expect Meritage Corporation (MTH) to Post $0.93 Earnings Per Share
Equities research analysts expect Meritage Corporation (NYSE:MTH) to report $0.93 earnings per share (EPS) for the current quarter, Zacks reports. Ten analysts have provided estimates for Meritage Corporation’s earnings. The lowest EPS estimate is $0.87 and the highest is $1.00. Meritage Corporation reported earnings of $0.88 per share during the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The business is expected to report its next earnings results before the market opens on Friday, October 27th.
On average, analysts expect that Meritage Corporation will report full-year earnings of $3.80 per share for the current financial year, with EPS estimates ranging from $3.67 to $3.88. For the next financial year, analysts forecast that the firm will post earnings of $4.39 per share, with EPS estimates ranging from $4.25 to $4.84. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that cover Meritage Corporation.
Meritage Corporation (NYSE:MTH) last announced its earnings results on Tuesday, August 1st. The construction company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.23. The firm had revenue of $802.00 million during the quarter, compared to analyst estimates of $760.39 million. Meritage Corporation had a net margin of 4.94% and a return on equity of 10.74%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 EPS.
MTH has been the subject of a number of research reports. Bank of America Corporation restated an “underperform” rating and issued a $38.00 price target (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 raised their price target on shares of Meritage Corporation from $40.00 to $42.00 and gave the stock 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 price target for the company in a report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $41.13.
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Shares of Meritage Corporation (MTH) traded up 1.23% during trading on Tuesday, reaching $49.45. 278,343 shares of the company were exchanged. Meritage Corporation has a 52-week low of $29.70 and a 52-week high of $49.68. The stock’s 50-day moving average is $44.04 and its 200-day moving average is $41.72. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 13.61 and a beta of 1.48.
In other news, EVP Javier Feliciano sold 1,009 shares of Meritage Corporation 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Meritage Corporation by 53,081.0% during the first quarter. BlackRock Inc. now owns 5,361,172 shares of the construction company’s stock valued at $197,292,000 after buying an additional 5,351,091 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Meritage Corporation by 1.1% during the second quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock valued at $140,712,000 after buying an additional 37,025 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Meritage Corporation by 0.7% during the second quarter. Fisher Asset Management LLC now owns 1,719,947 shares of the construction company’s stock valued at $72,582,000 after buying an additional 12,375 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Meritage Corporation by 23.8% during the second quarter. Earnest Partners LLC now owns 1,715,636 shares of the construction company’s stock valued at $72,400,000 after buying an additional 329,380 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Meritage Corporation by 3.2% during the second quarter. Macquarie Group Ltd. now owns 1,602,280 shares of the construction company’s stock valued at $67,616,000 after buying an additional 49,686 shares during the last quarter. Hedge funds and other institutional investors own 98.39% 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.
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