Meritage Homes Corporation (NYSE:MTH) Announces Quarterly Dividend of $0.48

Meritage Homes Corporation (NYSE:MTH) declared a quarterly dividend on Thursday, May 21st. Shareholders of record on Tuesday, June 16th will be given a dividend of 0.48 per share by the construction company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 16th.

Meritage Homes has a dividend payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Meritage Homes to earn $6.35 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 30.2%.

Meritage Homes Price Performance

Meritage Homes stock opened at $63.89 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a market cap of $4.26 billion, a P/E ratio of 11.72, a P/E/G ratio of 2.81 and a beta of 1.43. The business’s fifty day moving average is $64.03 and its two-hundred day moving average is $68.79. Meritage Homes has a 52 week low of $58.03 and a 52 week high of $84.74.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, April 22nd. The construction company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.12). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.55 billion. Meritage Homes had a return on equity of 8.08% and a net margin of 6.86%.Meritage Homes’s revenue for the quarter was down 17.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.69 EPS. Equities research analysts forecast that Meritage Homes will post 5.01 earnings per share for the current fiscal year.

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.