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.
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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