March 2, 2021

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Meritage Homes Co. (NYSE:MTH) Expected to Announce Earnings of $3.36 Per Share

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Equities analysts expect that Meritage Homes Co. (NYSE:MTH) will announce earnings per share (EPS) of $3.36 for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Meritage Homes’ earnings, with estimates ranging from $3.27 to $3.55. Meritage Homes posted earnings of $2.65 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.8%. The firm is expected to report its next earnings report after the market closes on Wednesday, January 27th.

According to Zacks, analysts expect that Meritage Homes will report full year earnings of $10.40 per share for the current fiscal year, with EPS estimates ranging from $10.32 to $10.60. For the next year, analysts anticipate that the firm will post earnings of $12.77 per share, with EPS estimates ranging from $11.54 to $14.02. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Meritage Homes.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Wednesday, October 21st. The construction company reported $2.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.42 by $0.42. Meritage Homes had a net margin of 8.88% and a return on equity of 18.16%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion.

A number of equities research analysts recently commented on the company. Bank of America lifted their price objective on Meritage Homes from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Tuesday, September 22nd. Zelman & Associates lowered Meritage Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, October 13th. BTIG Research lifted their price objective on shares of Meritage Homes from $117.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, October 16th. JPMorgan Chase & Co. downgraded shares of Meritage Homes from an “overweight” rating to a “neutral” rating and upped their target price for the company from $114.00 to $137.00 in a research note on Thursday, October 8th. Finally, Wells Fargo & Company raised shares of Meritage Homes from an “equal weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a research report on Monday, September 21st. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $106.44.

Shares of Meritage Homes stock traded up $0.20 on Friday, hitting $82.01. 310,551 shares of the company’s stock traded hands, compared to its average volume of 539,546. The firm’s 50-day moving average price is $86.24 and its two-hundred day moving average price is $93.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market capitalization of $3.08 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 0.30 and a beta of 1.65. Meritage Homes has a one year low of $25.24 and a one year high of $117.06.

In related news, COO Phillippe Lord sold 1,080 shares of the firm’s stock in a transaction on Thursday, November 19th. The shares were sold at an average price of $91.37, for a total transaction of $98,679.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC bought a new position in Meritage Homes in the third quarter worth $487,000. California State Teachers Retirement System boosted its holdings in Meritage Homes by 1.8% in the 2nd quarter. California State Teachers Retirement System now owns 56,071 shares of the construction company’s stock valued at $4,268,000 after purchasing an additional 1,000 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Meritage Homes by 5,724.3% in the 2nd quarter. Federated Hermes Inc. now owns 25,452 shares of the construction company’s stock valued at $1,937,000 after buying an additional 25,015 shares during the period. Balyasny Asset Management LLC increased its holdings in shares of Meritage Homes by 40.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 26,162 shares of the construction company’s stock worth $1,991,000 after buying an additional 7,556 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Meritage Homes by 9.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 36,481 shares of the construction company’s stock valued at $4,026,000 after buying an additional 3,144 shares during the period. Institutional investors and hedge funds own 97.09% of the company’s stock.

About Meritage Homes

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 under the Monterey Homes brand name; and title insurance and closing/settlement services to its homebuyers.

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