Meritage Homes Co. (NYSE:MTH - Free Report) - Equities researchers at Wedbush boosted their FY2024 earnings per share (EPS) estimates for shares of Meritage Homes in a note issued to investors on Thursday, October 31st. Wedbush analyst J. Mccanless now expects that the construction company will earn $21.19 per share for the year, up from their prior estimate of $20.51. Wedbush currently has a "Neutral" rating and a $195.00 target price on the stock. The consensus estimate for Meritage Homes' current full-year earnings is $21.09 per share. Wedbush also issued estimates for Meritage Homes' Q4 2024 earnings at $4.45 EPS, Q2 2025 earnings at $5.61 EPS, FY2025 earnings at $21.85 EPS, Q2 2026 earnings at $5.81 EPS and FY2026 earnings at $24.18 EPS.
Meritage Homes (NYSE:MTH - Get Free Report) last issued its earnings results on Tuesday, October 29th. The construction company reported $5.34 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.29. Meritage Homes had a return on equity of 16.89% and a net margin of 12.63%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $5.98 earnings per share. The firm's revenue for the quarter was down 1.5% on a year-over-year basis.
Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods lifted their price target on Meritage Homes from $195.00 to $210.00 and gave the company a "market perform" rating in a report on Tuesday, July 30th. The Goldman Sachs Group upgraded Meritage Homes from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $205.00 to $235.00 in a research report on Thursday. Evercore ISI raised their price target on Meritage Homes from $219.00 to $221.00 and gave the company an "outperform" rating in a report on Monday, July 15th. Raymond James upped their price objective on shares of Meritage Homes from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Finally, StockNews.com cut shares of Meritage Homes from a "buy" rating to a "hold" rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $220.17.
Get Our Latest Stock Analysis on Meritage Homes
Meritage Homes Stock Performance
NYSE:MTH traded up $2.14 during mid-day trading on Monday, hitting $185.58. The stock had a trading volume of 338,298 shares, compared to its average volume of 410,548. The company has a current ratio of 1.75, a quick ratio of 1.93 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $195.80 and a 200-day simple moving average of $182.49. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 8.40 and a beta of 1.82. Meritage Homes has a 52 week low of $129.42 and a 52 week high of $213.98.
Meritage Homes Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.00 annualized dividend and a dividend yield of 1.62%. Meritage Homes's dividend payout ratio (DPR) is 13.58%.
Institutional Trading of Meritage Homes
Large investors have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC boosted its stake in shares of Meritage Homes by 734.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 272,122 shares of the construction company's stock worth $55,804,000 after acquiring an additional 239,511 shares in the last quarter. Long Pond Capital LP acquired a new position in shares of Meritage Homes in the 1st quarter valued at $32,303,000. Swedbank AB acquired a new position in shares of Meritage Homes in the 1st quarter valued at $25,495,000. Mizuho Markets Americas LLC purchased a new position in Meritage Homes in the 2nd quarter worth about $22,887,000. Finally, Boston Partners acquired a new stake in Meritage Homes during the 1st quarter worth about $23,106,000. 98.44% of the stock is currently owned by institutional investors.
About Meritage Homes
(
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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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