Meritage Homes Co. (NYSE:MTH – Get Free Report) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $196.83.
Several research firms recently weighed in on MTH. Raymond James began coverage on shares of Meritage Homes in a research report on Wednesday, July 24th. They issued an “outperform” rating and a $220.00 price objective on the stock. The Goldman Sachs Group increased their price target on shares of Meritage Homes from $173.00 to $197.00 and gave the stock a “neutral” rating in a report on Friday. Evercore ISI lifted their price objective on shares of Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods increased their target price on Meritage Homes from $180.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Finally, StockNews.com lowered Meritage Homes from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th.
Check Out Our Latest Analysis on Meritage Homes
Insider Activity
Institutional Trading of Meritage Homes
Several large investors have recently modified their holdings of MTH. Norges Bank purchased a new stake in Meritage Homes in the 4th quarter worth approximately $76,297,000. Long Pond Capital LP bought a new position in shares of Meritage Homes during the first quarter valued at approximately $32,303,000. Swedbank AB purchased a new stake in Meritage Homes in the first quarter worth $25,495,000. Boston Partners bought a new stake in Meritage Homes in the first quarter valued at $23,106,000. Finally, Blackstone Inc. increased its position in Meritage Homes by 216.7% during the 1st quarter. Blackstone Inc. now owns 190,000 shares of the construction company’s stock valued at $33,337,000 after purchasing an additional 130,000 shares during the period. 98.44% of the stock is owned by institutional investors.
Meritage Homes Stock Up 1.0 %
Shares of NYSE:MTH opened at $202.07 on Tuesday. The firm has a fifty day moving average price of $172.46 and a two-hundred day moving average price of $166.64. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 9.42 and a beta of 1.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.66. Meritage Homes has a one year low of $109.23 and a one year high of $205.20.
Meritage Homes (NYSE:MTH – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The construction company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $1.14. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.57 billion. Meritage Homes had a return on equity of 17.99% and a net margin of 12.98%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $5.02 earnings per share. Analysts anticipate that Meritage Homes will post 20.36 EPS for the current fiscal year.
Meritage Homes Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.00 annualized dividend and a yield of 1.48%. Meritage Homes’s payout ratio is 13.99%.
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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