Analysts Set Meritage Homes Co. (NYSE:MTH) Target Price at $215.14

Meritage Homes Co. (NYSE:MTH - Get Free Report) has received a consensus rating of "Hold" from the nine analysts that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $215.14.

Several equities analysts have weighed in on the company. StockNews.com lowered Meritage Homes from a "hold" rating to a "sell" rating in a report on Friday, December 13th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $197.00 price target (down previously from $220.00) on shares of Meritage Homes in a research report on Friday, December 13th. Keefe, Bruyette & Woods decreased their price objective on Meritage Homes from $210.00 to $198.00 and set a "market perform" rating for the company in a report on Tuesday, November 5th. Wedbush upgraded shares of Meritage Homes from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $160.00 to $195.00 in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group upgraded shares of Meritage Homes from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $205.00 to $235.00 in a research note on Thursday, October 31st.

Meritage Homes Stock Performance

Shares of Meritage Homes stock traded up $2.70 during mid-day trading on Friday, hitting $154.61. 2,045,972 shares of the stock were exchanged, compared to its average volume of 419,615. The company has a market capitalization of $5.59 billion, a P/E ratio of 7.00 and a beta of 1.82. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The company has a 50-day simple moving average of $183.96 and a 200 day simple moving average of $184.45. Meritage Homes has a 12 month low of $147.77 and a 12 month high of $213.98.

Meritage Homes shares are going to split on the morning of Friday, January 3rd. The 2-1 split was announced on Monday, November 25th. The newly created shares will be payable to shareholders after the closing bell on Tuesday, December 31st.

Meritage Homes (NYSE:MTH - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $5.34 EPS for the quarter, topping the consensus estimate of $5.05 by $0.29. Meritage Homes had a net margin of 12.63% and a return on equity of 16.89%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted $5.98 earnings per share. The company's revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts anticipate that Meritage Homes will post 21.27 earnings per share for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.75 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.94%. Meritage Homes's dividend payout ratio (DPR) is currently 13.58%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Meritage Homes during the 3rd quarter valued at about $28,000. Assetmark Inc. lifted its position in Meritage Homes by 53.6% during the third quarter. Assetmark Inc. now owns 172 shares of the construction company's stock valued at $35,000 after purchasing an additional 60 shares during the last quarter. Headlands Technologies LLC grew its stake in Meritage Homes by 1,033.3% in the 2nd quarter. Headlands Technologies LLC now owns 272 shares of the construction company's stock worth $44,000 after buying an additional 248 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Meritage Homes in the 2nd quarter worth $61,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Meritage Homes during the 2nd quarter valued at $64,000. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

About Meritage Homes

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached 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 entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.