Equities analysts forecast that Meritage Corporation (NYSE:MTH) will post $1.26 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Meritage’s earnings, with estimates ranging from $1.22 to $1.32. Meritage posted earnings of $1.22 per share during the same quarter last year, which suggests a positive year over year growth rate of 3.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, February 7th.

On average, analysts expect that Meritage will report full year earnings of $3.80 per share for the current fiscal year, with EPS estimates ranging from $3.75 to $3.86. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.32 per share, with EPS estimates ranging from $4.13 to $4.43. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Meritage.

Meritage (NYSE:MTH) last posted its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.09. The company had revenue of $805.60 million during the quarter, compared to analysts’ expectations of $827.40 million. Meritage had a net margin of 5.04% and a return on equity of 10.81%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share.

A number of equities research analysts have recently commented on the stock. UBS assumed coverage on shares of Meritage in a research report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 target price for the company. Zacks Investment Research cut shares of Meritage from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, Citigroup upped their price objective on shares of Meritage from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.20.

Shares of Meritage (NYSE MTH) traded down $0.70 during midday trading on Friday, hitting $54.20. 524,572 shares of the stock were exchanged, compared to its average volume of 304,923. The firm has a market capitalization of $2,215.92, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.45 and a beta of 1.53. 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 has a 1-year low of $33.40 and a 1-year high of $55.50.

In other news, EVP Javier Feliciano sold 1,009 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total value of $35,869.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.60% of the company’s stock.

A number of large investors have recently modified their holdings of MTH. Public Employees Retirement System of Ohio raised its holdings in Meritage by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after acquiring an additional 328 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in Meritage by 88.0% during the second quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock worth $135,000 after purchasing an additional 1,496 shares in the last quarter. Sei Investments Co. acquired a new stake in Meritage during the second quarter worth approximately $170,000. Victory Capital Management Inc. grew its position in shares of Meritage by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,066 shares of the construction company’s stock worth $172,000 after acquiring an additional 609 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Meritage during the second quarter worth approximately $202,000. 98.20% of the stock is currently owned by hedge funds and other institutional investors.

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About Meritage

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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Earnings History and Estimates for Meritage (NYSE:MTH)

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