JMP Securities Comments on Meritage Corporation’s FY2018 Earnings (MTH)
Meritage Corporation (NYSE:MTH) – Equities researchers at JMP Securities lifted their FY2018 earnings per share estimates for shares of Meritage Corporation in a research report issued on Monday. JMP Securities analyst P. Martin now expects that the construction company will post earnings per share of $4.43 for the year, up from their previous estimate of $4.34. JMP Securities also issued estimates for Meritage Corporation’s Q4 2018 earnings at $1.61 EPS, Q2 2019 earnings at $1.13 EPS, Q3 2019 earnings at $1.36 EPS and FY2019 earnings at $4.89 EPS.
Meritage Corporation (NYSE:MTH) last issued its earnings results on Friday, October 27th. The construction company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.09. The business had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. Meritage Corporation had a net margin of 5.04% and a return on equity of 10.81%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. TRADEMARK VIOLATION NOTICE: This story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/11/02/jmp-securities-comments-on-meritage-corporations-fy2018-earnings-mth.html.
Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Meritage Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, July 5th. Deutsche Bank AG raised their price target 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. BidaskClub cut shares of Meritage Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Citigroup Inc. raised their price target on shares of Meritage Corporation from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Monday. Finally, UBS AG initiated coverage on shares of Meritage Corporation in a report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $43.20.
In other news, EVP Javier Feliciano sold 1,009 shares of Meritage Corporation stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings 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 worth $197,292,000 after acquiring an additional 5,351,091 shares during the period. Vanguard Group Inc. raised its holdings in shares of Meritage Corporation by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock worth $140,712,000 after acquiring an additional 37,025 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Meritage Corporation by 0.7% during the 2nd quarter. Fisher Asset Management LLC now owns 1,719,947 shares of the construction company’s stock worth $72,582,000 after acquiring an additional 12,375 shares during the period. Earnest Partners LLC raised its holdings 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 worth $72,400,000 after acquiring an additional 329,380 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of Meritage Corporation by 3.2% during the 2nd quarter. Macquarie Group Ltd. now owns 1,602,280 shares of the construction company’s stock worth $67,616,000 after acquiring an additional 49,686 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.
About Meritage Corporation
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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