Meritage Homes Corporation (NYSE:MTH) Given Consensus Recommendation of “Hold” by Brokerages

Meritage Homes Corporation (NYSE:MTH) has received an average rating of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $83.6250.

A number of research analysts have recently commented on the company. Zacks Research cut Meritage Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 10th. Keefe, Bruyette & Woods lowered their target price on Meritage Homes from $78.00 to $76.00 and set a “market perform” rating for the company in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Meritage Homes in a research report on Monday, December 29th. UBS Group set a $95.00 price target on Meritage Homes in a report on Friday, January 30th. Finally, Citizens Jmp assumed coverage on shares of Meritage Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $90.00 price objective for the company.

Meritage Homes Trading Up 0.9%

MTH opened at $77.47 on Wednesday. The company has a market cap of $5.17 billion, a P/E ratio of 12.26, a PEG ratio of 1.36 and a beta of 1.48. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $72.54 and its 200-day moving average is $72.54. Meritage Homes has a 1-year low of $59.27 and a 1-year high of $84.74.

Meritage Homes (NYSE:MTH) last released its quarterly earnings data on Wednesday, January 28th. The construction company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12. Meritage Homes had a net margin of 7.73% and a return on equity of 9.28%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the company earned $4.72 EPS. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. Equities research analysts predict that Meritage Homes will post 9.44 earnings per share for the current fiscal year.

Meritage Homes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This is an increase from Meritage Homes’s previous quarterly dividend of $0.43. This represents a $1.92 annualized dividend and a dividend yield of 2.5%. Meritage Homes’s payout ratio is 27.22%.

Institutional Trading of Meritage Homes

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC raised its position in Meritage Homes by 63.9% during the 4th quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company’s stock worth $25,000 after purchasing an additional 145 shares during the last quarter. New Age Alpha Advisors LLC increased its stake in shares of Meritage Homes by 1.5% in the fourth quarter. New Age Alpha Advisors LLC now owns 10,627 shares of the construction company’s stock valued at $699,000 after buying an additional 158 shares during the period. Archer Investment Corp increased its stake in shares of Meritage Homes by 11.4% in the third quarter. Archer Investment Corp now owns 1,559 shares of the construction company’s stock valued at $113,000 after buying an additional 159 shares during the period. ProShare Advisors LLC raised its position in shares of Meritage Homes by 1.2% during the fourth quarter. ProShare Advisors LLC now owns 13,559 shares of the construction company’s stock worth $892,000 after acquiring an additional 164 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Meritage Homes by 25.7% in the fourth quarter. Signaturefd LLC now owns 808 shares of the construction company’s stock worth $53,000 after acquiring an additional 165 shares during the period. 98.44% of the stock is currently owned by institutional investors and hedge funds.

About Meritage Homes

Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single‐family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high‐performance features aimed at reducing long‐term energy and water consumption for homebuyers.

The company’s core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.