Meritage Homes (NYSE:MTH) Research Coverage Started at Melius Research

Melius Research initiated coverage on shares of Meritage Homes (NYSE:MTH) in a research report report published on Tuesday, MarketBeat reports. The brokerage issued a sell rating and a $59.00 target price on the construction company’s stock.

Other research analysts have also recently issued reports about the company. Citigroup reissued a “market outperform” rating on shares of Meritage Homes in a research note on Monday, July 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $93.00 price target (up from $82.00) on shares of Meritage Homes in a research report on Friday, July 10th. Wall Street Zen upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Truist Financial set a $72.00 price objective on Meritage Homes and gave the stock a “hold” rating in a research report on Wednesday, September 16th. Finally, Evercore set a $65.00 target price on shares of Meritage Homes in a research note on Friday, September 25th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.78.

Meritage Homes Stock Performance

Shares of MTH stock opened at $60.60 on Tuesday. The firm has a 50 day moving average of $67.96 and a two-hundred day moving average of $68.89. The stock has a market capitalization of $3.95 billion, a PE ratio of 12.68, a P/E/G ratio of 4.42 and a beta of 1.33. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Meritage Homes has a 52 week low of $58.03 and a 52 week high of $85.38.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.12. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Meritage Homes had a return on equity of 7.13% and a net margin of 6.11%.The company’s revenue was down 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 earnings per share. On average, research analysts predict that Meritage Homes will post 5.02 EPS for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.48 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.2%. Meritage Homes’s payout ratio is presently 40.17%.

Institutional Trading of Meritage Homes

A number of institutional investors have recently bought and sold shares of MTH. Bamco Inc. NY purchased a new stake in Meritage Homes during the second quarter worth approximately $112,498,000. Bank of New York Mellon Corp purchased a new position in Meritage Homes in the second quarter valued at approximately $68,873,000. Algert Global LLC increased its stake in Meritage Homes by 267.8% in the second quarter. Algert Global LLC now owns 356,121 shares of the construction company’s stock valued at $29,861,000 after purchasing an additional 259,291 shares during the last quarter. Atlas FRM LLC purchased a new position in Meritage Homes in the second quarter valued at approximately $18,447,000. Finally, Deutsche Bank AG acquired a new stake in Meritage Homes during the second quarter worth approximately $14,510,000. 98.44% of the stock is owned by hedge funds and other institutional investors.

Meritage Homes Company Profile

Meritage Homes Corporation is a residential construction company that designs and builds single-family homes in the United States. The company primarily serves entry-level and first-time move-up buyers, offering homes in a range of floor plans, sizes and price points. Its communities typically feature energy-efficient designs and include standard features intended to improve home performance, comfort and affordability.

Meritage Homes develops communities in selected markets across the South, Southeast and West, including areas of Arizona, California, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee and Texas.