Brokerages Anticipate Meritage Homes Corp (MTH) to Announce $0.64 EPS

Equities analysts predict that Meritage Homes Corp (NYSE:MTH) will report $0.64 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Meritage Homes’ earnings, with the highest EPS estimate coming in at $0.71 and the lowest estimate coming in at $0.58. Meritage Homes posted earnings of $1.07 per share during the same quarter last year, which would indicate a negative year over year growth rate of 40.2%. The business is scheduled to announce its next earnings report after the market closes on Tuesday, April 23rd.

According to Zacks, analysts expect that Meritage Homes will report full-year earnings of $4.62 per share for the current financial year, with EPS estimates ranging from $3.84 to $5.45. For the next year, analysts expect that the firm will report earnings of $5.00 per share, with EPS estimates ranging from $3.85 to $6.10. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Meritage Homes.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Wednesday, January 30th. The construction company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.39. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $958.84 million. Meritage Homes had a return on equity of 13.49% and a net margin of 6.47%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share.



MTH has been the subject of a number of analyst reports. Citigroup dropped their price target on Meritage Homes from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, January 4th. Zelman & Associates upgraded Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday. ValuEngine upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 price target on shares of Meritage Homes in a research report on Thursday, January 31st. Finally, Zacks Investment Research upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Meritage Homes currently has an average rating of “Hold” and an average price target of $44.31.

In related news, EVP C Timothy White sold 19,500 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $45.07, for a total value of $878,865.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Phillippe Lord sold 16,977 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $43.40, for a total value of $736,801.80. Following the completion of the transaction, the insider now owns 35,394 shares in the company, valued at $1,536,099.60. The disclosure for this sale can be found here. Insiders sold 89,611 shares of company stock worth $3,924,400 over the last quarter. 6.10% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Meritage Homes by 0.8% in the fourth quarter. BlackRock Inc. now owns 6,221,109 shares of the construction company’s stock valued at $228,438,000 after acquiring an additional 52,149 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Meritage Homes by 2.6% in the third quarter. Vanguard Group Inc. now owns 3,771,037 shares of the construction company’s stock valued at $150,464,000 after acquiring an additional 95,924 shares during the last quarter. Vanguard Group Inc lifted its holdings in Meritage Homes by 2.6% in the third quarter. Vanguard Group Inc now owns 3,771,037 shares of the construction company’s stock valued at $150,464,000 after acquiring an additional 95,924 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Meritage Homes by 2.4% in the fourth quarter. Macquarie Group Ltd. now owns 1,882,295 shares of the construction company’s stock valued at $69,118,000 after acquiring an additional 44,260 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Meritage Homes by 0.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,632,405 shares of the construction company’s stock valued at $59,942,000 after acquiring an additional 9,542 shares during the last quarter. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Shares of MTH stock traded down $0.41 during trading hours on Wednesday, reaching $48.64. The company had a trading volume of 152,655 shares, compared to its average volume of 366,011. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $1.88 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.15. Meritage Homes has a 12-month low of $32.02 and a 12-month high of $49.83.

Meritage Homes Company Profile

Meritage Homes Corporation designs and builds single-family 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 first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.

See Also: Short Selling Stocks and Day Traders

Get a free copy of the Zacks research report on Meritage Homes (MTH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Meritage Homes (NYSE:MTH)

Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.