Meritage Homes Corp. (NYSE:MTH) has earned an average recommendation of “Hold” from the fourteen brokerages that are currently covering the company. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $38.64.
Several equities analysts have weighed in on the company. Zelman & Associates lowered Meritage Homes Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Credit Suisse Group AG lowered Meritage Homes Corp. from a “neutral” rating to an “underperform” rating and set a $36.00 target price on the stock. in a research note on Monday, July 11th. FBR & Co increased their target price on Meritage Homes Corp. from $36.00 to $41.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. Zacks Investment Research raised Meritage Homes Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, July 6th. Finally, TheStreet raised Meritage Homes Corp. from a “hold” rating to a “buy” rating in a research note on Friday, June 17th.
Shares of Meritage Homes Corp. (NYSE:MTH) opened at 33.83 on Tuesday. Meritage Homes Corp. has a 52 week low of $25.48 and a 52 week high of $41.33. The company has a market cap of $1.35 billion, a PE ratio of 9.84 and a beta of 1.25. The company has a 50 day moving average price of $34.62 and a 200 day moving average price of $36.16.
Meritage Homes Corp. (NYSE:MTH) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.15. Meritage Homes Corp. had a return on equity of 11.36% and a net margin of 5.05%. The business had revenue of $797.90 million for the quarter, compared to analyst estimates of $747.14 million. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. On average, equities analysts expect that Meritage Homes Corp. will post $3.56 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Meritage Homes Corp. by 86.4% in the first quarter. BlackRock Inc. now owns 3,053 shares of the company’s stock worth $112,000 after buying an additional 1,415 shares during the last quarter. Rocky Mountain Advisers LLC purchased a new position in Meritage Homes Corp. during the second quarter worth about $113,000. Bank of Montreal Can purchased a new position in Meritage Homes Corp. during the second quarter worth about $168,000. C M Bidwell & Associates Ltd. purchased a new position in Meritage Homes Corp. during the second quarter worth about $173,000. Finally, PineBridge Investments L.P. increased its position in Meritage Homes Corp. by 4.4% in the second quarter. PineBridge Investments L.P. now owns 4,719 shares of the company’s stock worth $177,000 after buying an additional 198 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.
About Meritage Homes Corp.
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee.
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