Meritage Homes (NYSE:MTH) Issues Q4 2024 Earnings Guidance

Meritage Homes (NYSE:MTH - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 4.100-4.600 for the period, compared to the consensus EPS estimate of 4.970. The company issued revenue guidance of -. Meritage Homes also updated its Q4 guidance to $4.10 to $4.60 EPS.

Meritage Homes Stock Performance

Shares of NYSE MTH traded down $4.03 during midday trading on Tuesday, reaching $180.45. 1,044,273 shares of the company were exchanged, compared to its average volume of 407,118. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.27. Meritage Homes has a 1 year low of $109.23 and a 1 year high of $213.98. The stock has a fifty day simple moving average of $196.91 and a 200 day simple moving average of $181.74. The stock has a market cap of $6.55 billion, a P/E ratio of 7.72 and a beta of 1.80.

Meritage Homes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.75 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.00 dividend on an annualized basis and a yield of 1.66%. Meritage Homes's payout ratio is currently 13.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MTH shares. Wolfe Research upgraded shares of Meritage Homes from a "peer perform" rating to an "outperform" rating and set a $230.00 price objective for the company in a research report on Wednesday, August 14th. Raymond James raised their price objective on shares of Meritage Homes from $220.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Meritage Homes from a "buy" rating to a "hold" rating in a research report on Thursday, July 25th. The Goldman Sachs Group raised their price objective on shares of Meritage Homes from $173.00 to $197.00 and gave the company a "neutral" rating in a research report on Friday, July 26th. Finally, Evercore ISI lifted their price target on shares of Meritage Homes from $219.00 to $221.00 and gave the company an "outperform" rating in a research report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Meritage Homes has an average rating of "Hold" and an average price target of $213.83.

Insider Activity

In other news, CFO Hilla Sferruzza sold 2,500 shares of Meritage Homes stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $205.00, for a total transaction of $512,500.00. Following the completion of the sale, the chief financial officer now directly owns 44,570 shares in the company, valued at approximately $9,136,850. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

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.

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