Wall Street analysts expect that Meritage Homes Corp (NYSE:MTH) will report earnings per share of $0.64 for the current quarter, Zacks reports. Twelve analysts have provided estimates for Meritage Homes’ earnings. The lowest EPS estimate is $0.58 and the highest is $0.71. Meritage Homes posted earnings of $1.07 per share in the same quarter last year, which indicates a negative year over year growth rate of 40.2%. The business is expected to issue its next earnings report after the market closes on Tuesday, April 23rd.

According to Zacks, analysts expect that Meritage Homes will report full year earnings of $4.62 per share for the current year, with EPS estimates ranging from $3.84 to $5.45. For the next year, analysts forecast that the business will report earnings of $5.00 per share, with EPS estimates ranging from $3.85 to $6.10. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Meritage Homes.

Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Wednesday, January 30th. The construction company reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.39. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $958.84 million. Meritage Homes had a return on equity of 13.49% and a net margin of 6.47%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 earnings per share.

MTH has been the subject of several research analyst reports. Zacks Investment Research upgraded Meritage Homes from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Citigroup cut their price objective on Meritage Homes from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, January 4th. ValuEngine upgraded Meritage Homes from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Wedbush lowered Meritage Homes from an “outperform” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Thursday, January 10th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 price objective on shares of Meritage Homes in a report on Thursday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $44.31.

Shares of Meritage Homes stock traded up $0.49 during trading on Wednesday, hitting $48.19. The stock had a trading volume of 7,357 shares, compared to its average volume of 357,568. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 1.09 and a beta of 1.15. Meritage Homes has a fifty-two week low of $32.02 and a fifty-two week high of $48.70.

In other news, CFO Hilla Sferruzza sold 750 shares of the company’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $44.06, for a total transaction of $33,045.00. Following the completion of the sale, the chief financial officer now directly owns 16,782 shares of the company’s stock, valued at $739,414.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP C Timothy White sold 19,500 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $45.07, for a total value of $878,865.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,611 shares of company stock valued at $3,924,400. 6.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in Meritage Homes by 531.3% in the 4th quarter. Meeder Asset Management Inc. now owns 707 shares of the construction company’s stock worth $26,000 after acquiring an additional 595 shares in the last quarter. Captrust Financial Advisors lifted its stake in Meritage Homes by 126.0% in the 4th quarter. Captrust Financial Advisors now owns 1,096 shares of the construction company’s stock worth $40,000 after acquiring an additional 611 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Meritage Homes in the 4th quarter worth about $88,000. PNC Financial Services Group Inc. lifted its stake in Meritage Homes by 25.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,804 shares of the construction company’s stock worth $103,000 after acquiring an additional 572 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Meritage Homes by 11.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,943 shares of the construction company’s stock worth $108,000 after acquiring an additional 304 shares in the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

About Meritage Homes

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 first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.

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

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