Meritage Homes Co. (NYSE:MTH) to Post Q1 2024 Earnings of $3.54 Per Share, Keefe, Bruyette & Woods Forecasts

Meritage Homes Co. (NYSE:MTHFree Report) – Stock analysts at Keefe, Bruyette & Woods decreased their Q1 2024 earnings estimates for Meritage Homes in a report released on Tuesday, February 6th. Keefe, Bruyette & Woods analyst J. Rahmani now forecasts that the construction company will earn $3.54 per share for the quarter, down from their prior estimate of $3.70. The consensus estimate for Meritage Homes’ current full-year earnings is $18.33 per share. Keefe, Bruyette & Woods also issued estimates for Meritage Homes’ Q2 2024 earnings at $4.18 EPS, Q3 2024 earnings at $4.45 EPS, Q4 2024 earnings at $4.99 EPS, FY2024 earnings at $17.16 EPS and FY2025 earnings at $18.67 EPS.

A number of other research firms have also recently weighed in on MTH. The Goldman Sachs Group upped their price objective on shares of Meritage Homes from $151.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Wedbush reiterated a “neutral” rating and issued a $170.00 target price on shares of Meritage Homes in a research report on Thursday, February 1st. StockNews.com cut shares of Meritage Homes from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Seaport Res Ptn cut shares of Meritage Homes from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Meritage Homes has an average rating of “Hold” and an average price target of $167.25.

View Our Latest Stock Analysis on MTH

Meritage Homes Stock Performance

NYSE:MTH opened at $154.54 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.82 and a current ratio of 2.07. The company has a fifty day moving average of $165.71 and a two-hundred day moving average of $143.43. The stock has a market capitalization of $5.63 billion, a PE ratio of 7.76 and a beta of 1.78. Meritage Homes has a fifty-two week low of $103.61 and a fifty-two week high of $179.68.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new position in Meritage Homes during the first quarter worth about $29,000. Lindbrook Capital LLC raised its holdings in Meritage Homes by 91.6% in the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the construction company’s stock valued at $36,000 after acquiring an additional 98 shares in the last quarter. Carmel Capital Partners LLC acquired a new stake in Meritage Homes in the third quarter valued at approximately $38,000. Principal Securities Inc. acquired a new stake in Meritage Homes in the fourth quarter valued at approximately $47,000. Finally, Quantbot Technologies LP acquired a new stake in Meritage Homes in the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Insider Activity at Meritage Homes

In related news, CEO Phillippe Lord sold 7,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $145.50, for a total value of $1,018,500.00. Following the completion of the sale, the chief executive officer now owns 36,091 shares of the company’s stock, valued at $5,251,240.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Meritage Homes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, December 14th. Meritage Homes’s dividend payout ratio is currently 5.42%.

About Meritage Homes

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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 first-time and first move-up buyers in Texas, Arizona, California, Colorado, Florida, North Carolina, South Carolina, Georgia, and Tennessee.

Further Reading

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

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