Meritage Homes (NYSE:MTH – Get Free Report) released its earnings results on Wednesday. The construction company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $1.14, Briefing.com reports. Meritage Homes had a return on equity of 18.28% and a net margin of 12.98%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $5.02 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Meritage Homes updated its FY 2024 guidance to 19.800-21.000 EPS.
Meritage Homes Trading Up 3.1 %
Shares of Meritage Homes stock traded up $5.92 on Friday, hitting $199.08. 299,680 shares of the company traded hands, compared to its average volume of 428,129. Meritage Homes has a 52 week low of $109.23 and a 52 week high of $205.20. The company has a market cap of $7.23 billion, a PE ratio of 9.31 and a beta of 1.80. The stock’s 50 day moving average price is $171.73 and its 200-day moving average price is $166.31. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.21.
Meritage Homes Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.75 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.51%. Meritage Homes’s dividend payout ratio is currently 13.99%.
Analyst Ratings Changes
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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.
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