Meritage Homes (MTH) Set to Announce Quarterly Earnings on Tuesday

Meritage Homes (NYSE:MTH - Get Free Report) will be issuing its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $5.06 per share for the quarter. Meritage Homes has set its FY 2024 guidance at 19.800-21.000 EPS.Persons interested in registering for the company's earnings conference call can do so using this link.

Meritage Homes (NYSE:MTH - Get Free Report) last issued its earnings results on Wednesday, July 24th. The construction company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.17 by $1.14. The business had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.57 billion. Meritage Homes had a return on equity of 17.99% and a net margin of 12.98%. Meritage Homes's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $5.02 earnings per share. On average, analysts expect Meritage Homes to post $21 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Meritage Homes Stock Down 5.0 %

NYSE:MTH traded down $9.63 during trading hours on Tuesday, hitting $184.01. 413,431 shares of the company's stock traded hands, compared to its average volume of 404,633. The stock's fifty day moving average price is $196.63 and its two-hundred day moving average price is $180.94. The firm has a market cap of $6.68 billion, a P/E ratio of 8.67 and a beta of 1.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.93 and a current ratio of 1.93. Meritage Homes has a twelve month low of $109.23 and a twelve month high of $213.98.

Meritage Homes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.75 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.63%. Meritage Homes's dividend payout ratio is 13.99%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Meritage Homes from $219.00 to $221.00 and gave the company an "outperform" rating in a research note on Monday, July 15th. Wolfe Research raised shares of Meritage Homes from a "peer perform" rating to an "outperform" rating and set a $230.00 price target on the stock in a research note on Wednesday, August 14th. StockNews.com cut Meritage Homes from a "buy" rating to a "hold" rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods upped their target price on Meritage Homes from $195.00 to $210.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group raised their price target on Meritage Homes from $173.00 to $197.00 and gave the stock a "neutral" rating in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $213.83.

Insider Transactions at Meritage Homes

In related news, CFO Hilla Sferruzza sold 2,500 shares of the firm's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $205.00, for a total value of $512,500.00. Following the completion of the transaction, the chief financial officer now directly owns 44,570 shares of the company's stock, valued at $9,136,850. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Hilla Sferruzza sold 2,500 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $205.00, for a total value of $512,500.00. Following the completion of the transaction, the chief financial officer now owns 44,570 shares of the company's stock, valued at $9,136,850. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Javier Feliciano sold 3,000 shares of the firm's stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $198.36, for a total transaction of $595,080.00. Following the transaction, the executive vice president now owns 14,307 shares of the company's stock, valued at approximately $2,837,936.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,500 shares of company stock valued at $3,111,080. 2.00% of the stock is owned by corporate insiders.

Meritage Homes Company Profile

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.