Analysts predict that Meritage Homes Corp (NYSE:MTH) will report $1.38 earnings per share (EPS) for the current quarter, according to Zacks. Twelve analysts have made estimates for Meritage Homes’ earnings. The lowest EPS estimate is $1.33 and the highest is $1.46. Meritage Homes reported earnings of $1.02 per share in the same quarter last year, which suggests a positive year over year growth rate of 35.3%. The firm is expected to issue its next quarterly earnings report on Friday, October 26th.

According to Zacks, analysts expect that Meritage Homes will report full-year earnings of $5.66 per share for the current year, with EPS estimates ranging from $5.58 to $5.73. For the next fiscal year, analysts expect that the firm will report earnings of $5.94 per share, with EPS estimates ranging from $5.63 to $6.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Meritage Homes.

Meritage Homes (NYSE:MTH) last released its earnings results on Wednesday, July 25th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.21. Meritage Homes had a net margin of 5.21% and a return on equity of 12.17%. The business had revenue of $877.50 million during the quarter, compared to analysts’ expectations of $825.47 million. During the same period last year, the business earned $0.98 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis.

A number of equities analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Meritage Homes in a report on Tuesday, June 19th. They set a “buy” rating and a $55.00 target price on the stock. ValuEngine downgraded Meritage Homes from a “hold” rating to a “sell” rating in a research note on Thursday, June 28th. Zacks Investment Research downgraded Meritage Homes from a “buy” rating to a “hold” rating in a research note on Monday, July 9th. Credit Suisse Group lowered their price objective on Meritage Homes from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, July 26th. Finally, Wedbush reduced their target price on Meritage Homes from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.10.

Shares of NYSE:MTH traded down $0.10 during midday trading on Thursday, hitting $41.80. The stock had a trading volume of 6,189 shares, compared to its average volume of 295,405. Meritage Homes has a 12 month low of $40.30 and a 12 month high of $55.50. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1.75 billion, a PE ratio of 10.77, a P/E/G ratio of 0.51 and a beta of 1.07.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Meritage Homes by 5.5% during the 2nd quarter. BlackRock Inc. now owns 5,988,652 shares of the construction company’s stock worth $263,202,000 after buying an additional 311,283 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of Meritage Homes by 1.9% during the 1st quarter. Earnest Partners LLC now owns 2,120,060 shares of the construction company’s stock worth $95,933,000 after buying an additional 39,810 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Meritage Homes by 21.1% during the 1st quarter. Millennium Management LLC now owns 1,843,674 shares of the construction company’s stock worth $83,426,000 after buying an additional 320,807 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Meritage Homes by 15.5% during the 2nd quarter. Macquarie Group Ltd. now owns 1,813,507 shares of the construction company’s stock worth $79,704,000 after buying an additional 242,916 shares in the last quarter. Finally, Echo Street Capital Management LLC boosted its holdings in shares of Meritage Homes by 48.4% during the 1st quarter. Echo Street Capital Management LLC now owns 966,437 shares of the construction company’s stock worth $43,731,000 after buying an additional 315,410 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Meritage Homes Company Profile

Meritage Homes Corporation designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for various homebuyers, including first-time, move-up, active-adult, and luxury homes under the Meritage Homes brand name.

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Earnings History and Estimates for Meritage Homes (NYSE:MTH)

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