Meritage Homes (MTH) Set to Announce Earnings on Wednesday

Meritage Homes (NYSE:MTHGet Rating) is set to release its earnings data after the market closes on Wednesday, February 1st. Analysts expect Meritage Homes to post earnings of $7.03 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Meritage Homes (NYSE:MTHGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The construction company reported $7.10 earnings per share for the quarter, beating the consensus estimate of $6.41 by $0.69. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.63 billion. Meritage Homes had a return on equity of 29.08% and a net margin of 16.68%. On average, analysts expect Meritage Homes to post $27 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Meritage Homes Trading Up 2.0 %

Shares of Meritage Homes stock opened at $102.83 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 3.97 and a beta of 1.52. The business has a fifty day simple moving average of $91.83 and a 200-day simple moving average of $83.21. Meritage Homes has a fifty-two week low of $62.51 and a fifty-two week high of $107.72.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MTH shares. Wedbush reduced their target price on Meritage Homes from $130.00 to $102.00 and set an “outperform” rating for the company in a report on Monday, October 10th. StockNews.com raised Meritage Homes from a “hold” rating to a “buy” rating in a report on Tuesday, January 10th. TheStreet raised Meritage Homes from a “c+” rating to a “b-” rating in a report on Thursday, December 8th. JPMorgan Chase & Co. increased their price objective on Meritage Homes from $78.00 to $90.00 in a research note on Tuesday, November 22nd. Finally, The Goldman Sachs Group increased their price objective on Meritage Homes from $87.00 to $103.00 and gave the stock a “neutral” rating in a research note on Thursday, January 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Meritage Homes presently has a consensus rating of “Hold” and an average target price of $97.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Meritage Homes by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 4,216,167 shares of the construction company’s stock worth $334,047,000 after purchasing an additional 23,652 shares during the last quarter. State Street Corp increased its holdings in shares of Meritage Homes by 0.3% during the 3rd quarter. State Street Corp now owns 1,320,818 shares of the construction company’s stock valued at $92,814,000 after acquiring an additional 4,271 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Meritage Homes by 4.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 815,481 shares of the construction company’s stock valued at $59,122,000 after acquiring an additional 36,114 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Meritage Homes by 3.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 791,112 shares of the construction company’s stock valued at $62,680,000 after acquiring an additional 28,878 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Meritage Homes by 1.7% during the 2nd quarter. Northern Trust Corp now owns 479,784 shares of the construction company’s stock valued at $34,784,000 after acquiring an additional 7,901 shares during the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.

About Meritage Homes

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Meritage Homes Corp. designs and builds single family homes. It offers variety of entry-level and first move-up homes. The firm operates through the following segments: Homebuilding and Financial Services. The Homebuilding segment acquires constructs and markets single-detached houses. The Financial Services segment includes the operations of the company’s subsidiary, Carefree Title.

See Also

Earnings History for Meritage Homes (NYSE:MTH)

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