Meritage Corporation (MTH) Receives Average Rating of “Hold” from Brokerages
Meritage Corporation (NYSE:MTH) has been assigned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $42.78.
Several research analysts recently commented on the company. Zacks Investment Research cut Meritage from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Citigroup boosted their target price on Meritage from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, UBS initiated coverage on Meritage in a report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 target price for the company.
In other news, EVP Javier Feliciano sold 1,009 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.
Meritage (MTH) traded up $0.55 on Friday, reaching $54.95. The company had a trading volume of 456,100 shares, compared to its average volume of 304,064. Meritage has a 1 year low of $33.40 and a 1 year high of $55.50. The firm has a market cap of $2,139.30, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.40 and a beta of 1.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70.
Meritage (NYSE:MTH) last released its earnings results on Friday, October 27th. The construction company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.09. Meritage had a return on equity of 10.81% and a net margin of 5.04%. The firm had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. During the same period in the previous year, the firm posted $0.88 EPS. Meritage’s revenue for the quarter was up 7.0% on a year-over-year basis. equities research analysts anticipate that Meritage will post 3.8 EPS for the current year.
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Meritage 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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