Meritage Homes (NYSE:MTH) Updates FY19 Earnings Guidance

Meritage Homes (NYSE:MTH) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.50-5.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.46. The company issued revenue guidance of $3.5 billion, compared to the consensus revenue estimate of $3.57 billion.Meritage Homes also updated its FY 2019 guidance to $5.50-5.70 EPS.

Several brokerages have weighed in on MTH. Zacks Investment Research upgraded Meritage Homes from a hold rating to a strong-buy rating and set a $66.00 price objective for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. upgraded Meritage Homes from an underweight rating to a neutral rating and boosted their price objective for the company from $54.50 to $67.50 in a research report on Wednesday, September 11th. Citigroup upgraded Meritage Homes from a neutral rating to a buy rating and boosted their price objective for the company from $55.00 to $63.00 in a research report on Thursday, July 25th. Bank of America boosted their price objective on Meritage Homes from $79.00 to $82.00 and gave the company a buy rating in a research report on Wednesday, September 18th. Finally, ValuEngine downgraded Meritage Homes from a buy rating to a hold rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $56.57.

Shares of Meritage Homes stock traded up $0.27 during midday trading on Tuesday, reaching $75.07. 787,287 shares of the company’s stock traded hands, compared to its average volume of 440,296. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market cap of $2.86 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. The stock has a 50 day moving average of $70.13 and a 200-day moving average of $58.48. Meritage Homes has a 12 month low of $32.02 and a 12 month high of $76.39.

Meritage Homes (NYSE:MTH) last announced its earnings results on Wednesday, July 24th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.28. The company had revenue of $864.60 million during the quarter, compared to the consensus estimate of $808.02 million. Meritage Homes had a return on equity of 11.81% and a net margin of 5.94%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 earnings per share. On average, equities analysts anticipate that Meritage Homes will post 5.44 earnings per share for the current fiscal year.

In other Meritage Homes news, Director Gerald W. Haddock sold 5,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $62.87, for a total value of $314,350.00. Following the completion of the transaction, the director now owns 37,000 shares in the company, valued at $2,326,190. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Raymond Oppel sold 15,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $68.26, for a total value of $1,023,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 702,425 shares of company stock valued at $44,685,523. 6.10% of the stock is owned by corporate insiders.

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.

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

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