Equities research analysts expect that Meritage Homes Corp (NYSE:MTH) will post $932.96 million in sales for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Meritage Homes’ earnings. The lowest sales estimate is $900.00 million and the highest is $947.79 million. Meritage Homes reported sales of $880.71 million in the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 7th.

According to Zacks, analysts expect that Meritage Homes will report full year sales of $932.96 million for the current financial year, with estimates ranging from $3.19 billion to $3.24 billion. For the next fiscal year, analysts expect that the business will report sales of $3.39 billion per share, with estimates ranging from $3.35 billion to $3.43 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Meritage Homes.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 Homes 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 company posted $0.88 EPS.

A number of equities analysts have weighed in on MTH shares. Citigroup raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Monday. Zacks Investment Research cut shares of Meritage Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. UBS Group started coverage on shares of Meritage Homes in a research report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 price objective for the company. Finally, ValuEngine raised shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.20.

In other Meritage Homes news, Director Robert Gary Sarver sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $50.47, for a total value of $605,640.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Javier Feliciano sold 1,009 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MTH. Sei Investments Co. bought a new position in Meritage Homes in the second quarter worth about $170,000. Schwab Charles Investment Management Inc. lifted its holdings in Meritage Homes by 10.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 249,660 shares of the construction company’s stock worth $10,536,000 after acquiring an additional 23,662 shares during the last quarter. Legal & General Group Plc lifted its holdings in Meritage Homes by 9.1% in the second quarter. Legal & General Group Plc now owns 77,046 shares of the construction company’s stock worth $3,251,000 after acquiring an additional 6,433 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Meritage Homes by 17.6% in 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, Prudential Financial Inc. lifted its holdings in Meritage Homes by 41.6% in the second quarter. Prudential Financial Inc. now owns 92,018 shares of the construction company’s stock worth $3,883,000 after acquiring an additional 27,040 shares during the last quarter. 98.20% of the stock is currently owned by hedge funds and other institutional investors.

Meritage Homes (MTH) traded up $0.30 during trading hours on Monday, reaching $53.95. 312,700 shares of the company’s stock were exchanged, compared to its average volume of 434,117. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a market cap of $2,180.00, a PE ratio of 14.35, a P/E/G ratio of 1.27 and a beta of 1.54. Meritage Homes has a one year low of $33.40 and a one year high of $55.50.

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Meritage Homes 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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