Meritage Homes Co. (NYSE:MTH - Free Report)'s stock is set to split on Friday, January 3rd. The 2-1 split was announced on Monday, November 25th. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, December 31st.
Meritage Homes Stock Performance
MTH stock traded down $7.47 during midday trading on Wednesday, hitting $156.33. The company's stock had a trading volume of 650,785 shares, compared to its average volume of 410,735. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 7.08 and a beta of 1.82. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The stock's 50-day moving average price is $185.53 and its 200 day moving average price is $184.87. Meritage Homes has a 1 year low of $147.77 and a 1 year high of $213.98.
Meritage Homes (NYSE:MTH - Get Free Report) last released its earnings results on Tuesday, October 29th. The construction company reported $5.34 EPS for the quarter, topping analysts' consensus estimates of $5.05 by $0.29. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.58 billion. Meritage Homes had a return on equity of 16.89% and a net margin of 12.63%. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $5.98 EPS. On average, equities analysts forecast that Meritage Homes will post 21.27 EPS for the current year.
Meritage Homes Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, December 17th. Meritage Homes's dividend payout ratio is currently 13.58%.
Analysts Set New Price Targets
Several equities analysts recently commented on MTH shares. The Goldman Sachs Group upgraded Meritage Homes from a "neutral" rating to a "buy" rating and upped their price objective for the company from $205.00 to $235.00 in a research note on Thursday, October 31st. StockNews.com downgraded Meritage Homes from a "hold" rating to a "sell" rating in a research note on Friday, December 13th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $197.00 price objective (down from $220.00) on shares of Meritage Homes in a research note on Friday, December 13th. Raymond James downgraded shares of Meritage Homes from an "outperform" rating to a "market perform" rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Meritage Homes from $210.00 to $198.00 and set a "market perform" rating for the company in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $215.14.
Get Our Latest Stock Analysis on Meritage Homes
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC boosted its position in shares of Meritage Homes by 734.4% in the third quarter. Wedge Capital Management L L P NC now owns 272,122 shares of the construction company's stock valued at $55,804,000 after acquiring an additional 239,511 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Meritage Homes in the 3rd quarter worth approximately $44,029,000. Point72 Asset Management L.P. bought a new position in Meritage Homes in the 3rd quarter valued at $36,365,000. FMR LLC grew its position in shares of Meritage Homes by 75.1% during the 3rd quarter. FMR LLC now owns 347,227 shares of the construction company's stock valued at $71,206,000 after purchasing an additional 148,898 shares in the last quarter. Finally, Mizuho Markets Americas LLC purchased a new position in shares of Meritage Homes during the 2nd quarter valued at $22,887,000. Hedge funds and other institutional investors own 98.44% of the company's stock.
Meritage Homes Company Profile
(
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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.
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