Meritage Homes (MTH) Set to Announce Earnings on Tuesday

Meritage Homes (NYSE:MTH) will be announcing its earnings results after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $5.06 per share for the quarter. Meritage Homes has set its FY 2024 guidance at 19.800-21.000 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Meritage Homes (NYSE:MTH) last announced its earnings results on Wednesday, July 24th. The construction company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.17 by $1.14. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.57 billion. Meritage Homes had a return on equity of 17.99% and a net margin of 12.98%. Meritage Homes’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $5.02 earnings per share. On average, analysts expect Meritage Homes to post $21 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Meritage Homes Trading Down 5.1 %

Shares of MTH opened at $193.64 on Tuesday. The business’s 50-day moving average price is $196.31 and its 200 day moving average price is $180.71. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.03 billion, a P/E ratio of 9.03 and a beta of 1.80. Meritage Homes has a 1-year low of $109.23 and a 1-year high of $213.98.

Meritage Homes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, September 16th. Meritage Homes’s dividend payout ratio (DPR) is currently 13.99%.

Wall Street Analyst Weigh In

MTH has been the subject of a number of recent analyst reports. Raymond James raised their price objective on shares of Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI raised their target price on Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Wedbush raised Meritage Homes from an “underperform” rating to a “neutral” rating and upped their price target for the company from $160.00 to $195.00 in a research report on Tuesday, October 15th. Wolfe Research raised Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price objective for the company in a research note on Wednesday, August 14th. Finally, StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $213.83.

Insider Transactions at Meritage Homes

In other news, CEO Phillippe Lord sold 10,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $200.35, for a total transaction of $2,003,500.00. Following the completion of the sale, the chief executive officer now owns 90,266 shares in the company, valued at approximately $18,084,793.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Javier Feliciano sold 3,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $198.36, for a total value of $595,080.00. Following the sale, the executive vice president now owns 14,307 shares in the company, valued at approximately $2,837,936.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Phillippe Lord sold 10,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $200.35, for a total transaction of $2,003,500.00. Following the completion of the sale, the chief executive officer now owns 90,266 shares in the company, valued at $18,084,793.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $3,111,080 in the last 90 days. 2.00% of the stock is owned by insiders.

About Meritage Homes

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.