Meritage Homes (MTH) Scheduled to Post Quarterly Earnings on Wednesday

Meritage Homes (NYSE:MTHGet Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 27th. Analysts expect the company to announce earnings of $4.74 per share for the quarter. Meritage Homes has set its FY22 guidance at $23.15-24.65 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Meritage Homes (NYSE:MTHGet Rating) last released its earnings results on Wednesday, January 26th. The construction company reported $6.25 EPS for the quarter, beating analysts’ consensus estimates of $6.04 by $0.21. Meritage Homes had a return on equity of 26.88% and a net margin of 14.34%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $3.97 earnings per share. On average, analysts expect Meritage Homes to post $24 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Shares of MTH stock opened at $83.01 on Wednesday. Meritage Homes has a fifty-two week low of $75.56 and a fifty-two week high of $125.01. The stock has a market cap of $3.05 billion, a P/E ratio of 4.30 and a beta of 1.70. The business has a fifty day simple moving average of $89.10 and a 200-day simple moving average of $102.69. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.38.

In other news, COO Clinton Szubinski sold 430 shares of Meritage Homes stock in a transaction dated Wednesday, February 23rd. The stock was sold at an average price of $90.31, for a total value of $38,833.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Steven J. Hilton sold 39,500 shares of Meritage Homes stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $101.41, for a total value of $4,005,695.00. The disclosure for this sale can be found here. Insiders sold a total of 90,181 shares of company stock valued at $9,116,246 in the last 90 days. 1.80% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in MTH. Wells Fargo & Company MN increased its holdings in Meritage Homes by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 307,388 shares of the construction company’s stock worth $37,520,000 after purchasing an additional 1,405 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Meritage Homes by 59.2% during the 4th quarter. Allianz Asset Management GmbH now owns 264,406 shares of the construction company’s stock worth $32,273,000 after purchasing an additional 98,344 shares during the last quarter. Legal & General Group Plc increased its holdings in Meritage Homes by 2.7% during the 4th quarter. Legal & General Group Plc now owns 108,363 shares of the construction company’s stock worth $13,227,000 after purchasing an additional 2,798 shares during the last quarter. California State Teachers Retirement System increased its holdings in Meritage Homes by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 51,894 shares of the construction company’s stock worth $6,334,000 after purchasing an additional 749 shares during the last quarter. Finally, Credit Suisse AG increased its holdings in shares of Meritage Homes by 4.8% in the 4th quarter. Credit Suisse AG now owns 34,299 shares of the construction company’s stock valued at $4,187,000 after acquiring an additional 1,566 shares during the last quarter. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on the company. Credit Suisse Group assumed coverage on Meritage Homes in a research report on Tuesday, April 5th. They issued an “outperform” rating and a $103.00 price target for the company. JPMorgan Chase & Co. dropped their price target on Meritage Homes from $111.00 to $89.00 and set a “neutral” rating for the company in a research report on Wednesday, April 13th. The Goldman Sachs Group dropped their price objective on Meritage Homes from $114.00 to $92.00 and set a “neutral” rating for the company in a research report on Tuesday, April 12th. KeyCorp cut Meritage Homes from an “overweight” rating to a “sector weight” rating in a research report on Monday, January 31st. Finally, StockNews.com initiated coverage on Meritage Homes in a research report on Thursday, March 31st. They set a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $117.63.

About Meritage Homes (Get Rating)

Meritage Homes Corp. designs and builds single family homes. It offers variety of entry-level and first move-up homes. The firm operates through the following segments: Homebuilding and Financial Services. The Homebuilding segment acquires constructs and markets single-detached houses. The Financial Services segment includes the operations of the company’s subsidiary, Carefree Title.

Featured Stories

Earnings History for Meritage Homes (NYSE:MTH)

Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.