Meritage Homes (NYSE:MTH) Announces Earnings Results

Meritage Homes (NYSE:MTH) posted its quarterly earnings results on Wednesday. The construction company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.12, FiscalAI reports. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.51 billion. Meritage Homes had a return on equity of 10.37% and a net margin of 8.96%.The business’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period last year, the company earned $4.72 earnings per share.

Meritage Homes Price Performance

Shares of MTH opened at $69.03 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.35. Meritage Homes has a 1-year low of $59.27 and a 1-year high of $84.74. The firm has a market cap of $4.86 billion, a PE ratio of 7.02 and a beta of 1.48. The firm has a fifty day simple moving average of $70.85 and a two-hundred day simple moving average of $71.85.

Meritage Homes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a $0.43 dividend. The ex-dividend date was Wednesday, December 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.5%. Meritage Homes’s payout ratio is currently 17.48%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Evercore ISI set a $77.00 price target on Meritage Homes and gave the stock an “in-line” rating in a research report on Thursday, December 4th. Wall Street Zen downgraded shares of Meritage Homes from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. UBS Group dropped their price target on shares of Meritage Homes from $104.00 to $101.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Meritage Homes in a report on Monday, December 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of Meritage Homes in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.25.

Institutional Investors Weigh In On Meritage Homes

A number of institutional investors and hedge funds have recently bought and sold shares of MTH. Larson Financial Group LLC boosted its stake in shares of Meritage Homes by 265.5% during the third quarter. Larson Financial Group LLC now owns 402 shares of the construction company’s stock valued at $29,000 after purchasing an additional 292 shares during the period. EverSource Wealth Advisors LLC boosted its position in Meritage Homes by 194.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 699 shares of the construction company’s stock valued at $47,000 after buying an additional 462 shares during the period. CIBC Private Wealth Group LLC grew its stake in Meritage Homes by 23.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,429 shares of the construction company’s stock worth $104,000 after acquiring an additional 268 shares in the last quarter. Vident Advisory LLC purchased a new position in shares of Meritage Homes during the second quarter worth approximately $202,000. Finally, Captrust Financial Advisors bought a new stake in shares of Meritage Homes during the second quarter valued at approximately $203,000. 98.44% of the stock is owned by institutional investors.

About Meritage Homes

Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single‐family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high‐performance features aimed at reducing long‐term energy and water consumption for homebuyers.

The company’s core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.