According to Zacks, “Meritage Homes Corp. is one of the nation’s largest single-family homebuilders. “
MTH has been the topic of several other reports. JMP Securities restated a market perform rating on shares of Meritage Homes Corp. in a report on Friday, June 24th. TheStreet lowered Meritage Homes Corp. from a buy rating to a hold rating in a report on Monday, August 22nd. Credit Suisse Group AG restated a sell rating and set a $36.00 target price on shares of Meritage Homes Corp. in a report on Friday, July 29th. JPMorgan Chase & Co. lowered Meritage Homes Corp. from an overweight rating to a neutral rating and set a $37.50 target price on the stock. in a report on Tuesday, August 2nd. Finally, FBR & Co raised their target price on Meritage Homes Corp. from $36.00 to $41.00 and gave the company a market perform rating in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $38.50.
Meritage Homes Corp. (NYSE:MTH) opened at 33.85 on Friday. The firm’s 50-day moving average price is $34.49 and its 200-day moving average price is $36.12. The company has a market cap of $1.35 billion, a P/E ratio of 9.84 and a beta of 1.25. Meritage Homes Corp. has a 12-month low of $25.48 and a 12-month high of $41.33.
Meritage Homes Corp. (NYSE:MTH) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. The firm earned $797.90 million during the quarter, compared to analysts’ expectations of $747.14 million. Meritage Homes Corp. had a return on equity of 11.36% and a net margin of 5.05%. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 earnings per share. Analysts expect that Meritage Homes Corp. will post $3.56 EPS for the current year.
A number of large investors have recently bought and sold shares of MTH. FMR LLC increased its stake in Meritage Homes Corp. by 58.5% in the second quarter. FMR LLC now owns 5,071,042 shares of the company’s stock valued at $190,367,000 after buying an additional 1,870,962 shares during the period. Emerald Acquisition Ltd. bought a new stake in Meritage Homes Corp. during the second quarter valued at $27,814,000. Hexavest Inc. increased its stake in Meritage Homes Corp. by 80.6% in the third quarter. Hexavest Inc. now owns 687,434 shares of the company’s stock valued at $23,854,000 after buying an additional 306,825 shares during the period. JPMorgan Chase & Co. increased its stake in Meritage Homes Corp. by 507.8% in the first quarter. JPMorgan Chase & Co. now owns 187,682 shares of the company’s stock valued at $6,842,000 after buying an additional 156,805 shares during the period. Finally, Vanguard Group Inc. increased its stake in Meritage Homes Corp. by 3.0% in the second quarter. Vanguard Group Inc. now owns 2,964,655 shares of the company’s stock valued at $111,292,000 after buying an additional 85,962 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.
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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