Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Meritage Corporation (MTH) Stock Price
News stories about Meritage Corporation (NYSE:MTH) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research firm ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Meritage Corporation earned a daily sentiment score of 0.10 on Accern’s scale. Accern also assigned news headlines about the construction company an impact score of 46.7293752609229 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Meritage Corporation (NYSE:MTH) traded up 0.75% during trading on Friday, reaching $40.45. The company had a trading volume of 216,392 shares. The firm’s 50-day moving average price is $41.67 and its 200 day moving average price is $40.13. Meritage Corporation has a one year low of $29.70 and a one year high of $44.45. The firm has a market capitalization of $1.63 billion, a P/E ratio of 11.13 and a beta of 1.46.
Meritage Corporation (NYSE:MTH) last posted its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.23. The business had revenue of $802.00 million for the quarter, compared to analysts’ expectations of $760.39 million. Meritage Corporation had a return on equity of 10.74% and a net margin of 4.94%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. Equities analysts forecast that Meritage Corporation will post $3.79 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the company. Zacks Investment Research lowered Meritage Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays PLC reiterated an “underweight” rating and set a $38.00 price objective (up from $36.00) on shares of Meritage Corporation in a research note on Wednesday, August 2nd. Deutsche Bank AG boosted their price objective on Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub lowered Meritage Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Bank of America Corporation reiterated an “underperform” rating and set a $38.00 price objective (up from $36.00) on shares of Meritage Corporation in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Meritage Corporation currently has an average rating of “Hold” and a consensus target price of $41.13.
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In other Meritage Corporation news, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is owned by company insiders.
About Meritage Corporation
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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