Zacks: Brokerages Expect Meritage Corporation (MTH) Will Post Earnings of $0.91 Per Share
Equities research analysts expect that Meritage Corporation (NYSE:MTH) will post $0.91 earnings per share for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Meritage Corporation’s earnings, with estimates ranging from $0.83 to $1.02. Meritage Corporation posted earnings per share of $0.88 in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The company is scheduled to announce its next quarterly earnings report before the market opens on Friday, October 27th.
On average, analysts expect that Meritage Corporation will report full year earnings of $3.80 per share for the current fiscal year, with EPS estimates ranging from $3.70 to $3.94. For the next year, analysts expect that the firm will post earnings of $4.37 per share, with EPS estimates ranging from $4.25 to $4.84. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Meritage Corporation.
Meritage Corporation (NYSE:MTH) last announced its earnings results on Tuesday, August 1st. The construction company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.23. Meritage Corporation had a net margin of 4.94% and a return on equity of 10.74%. The business had revenue of $802.00 million for the quarter, compared to the consensus estimate of $760.39 million. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis.
MTH has been the topic of several analyst reports. Credit Suisse Group initiated coverage on Meritage Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $40.00 price target on the stock. BidaskClub upgraded Meritage Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research upgraded Meritage Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, July 5th. Barclays PLC reiterated an “underweight” rating on shares of Meritage Corporation in a report on Thursday, July 13th. Finally, Bank of America Corporation reiterated an “underperform” rating and set a $38.00 price target (up previously from $36.00) on shares of Meritage Corporation in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $41.13.
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Meritage Corporation (NYSE MTH) opened at 47.05 on Friday. Meritage Corporation has a 12-month low of $29.70 and a 12-month high of $47.25. The stock has a 50 day moving average of $41.57 and a 200-day moving average of $40.60. The company has a market capitalization of $1.90 billion, a PE ratio of 12.95 and a beta of 1.48.
In related news, EVP Javier Feliciano sold 1,009 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total value of $35,869.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MTH. Ameritas Investment Partners Inc. purchased a new stake in Meritage Corporation in the 1st quarter valued at about $122,000. Public Employees Retirement System of Ohio raised its holdings in Meritage Corporation by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after buying an additional 328 shares during the period. Victory Capital Management Inc. raised its holdings in Meritage Corporation by 64.9% in the 1st quarter. Victory Capital Management Inc. now owns 3,457 shares of the construction company’s stock valued at $127,000 after buying an additional 1,361 shares during the period. Riverhead Capital Management LLC raised its holdings in Meritage Corporation by 88.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock valued at $135,000 after buying an additional 1,496 shares during the period. Finally, Point72 Asia Hong Kong Ltd raised its holdings in Meritage Corporation by 3,388.6% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,977 shares of the construction company’s stock valued at $146,000 after buying an additional 3,863 shares during the period. Hedge funds and other institutional investors own 98.18% of the company’s stock.
Meritage Corporation 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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