Meritage Homes (NYSE:MTH) Posts Quarterly Earnings Results, Beats Expectations By $0.99 EPS

Meritage Homes (NYSE:MTHGet Rating) issued its quarterly earnings data on Wednesday. The construction company reported $5.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.80 by $0.99, MarketWatch Earnings reports. Meritage Homes had a net margin of 14.34% and a return on equity of 26.88%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned $3.44 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year.

Shares of NYSE MTH traded up $1.79 during mid-day trading on Thursday, reaching $81.03. 2,585 shares of the company were exchanged, compared to its average volume of 445,907. The company’s 50-day simple moving average is $87.79 and its 200-day simple moving average is $101.97. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $2.97 billion, a P/E ratio of 4.20 and a beta of 1.70. Meritage Homes has a twelve month low of $75.56 and a twelve month high of $125.01.

In other news, CEO Phillippe Lord sold 1,111 shares of the firm’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $94.39, for a total transaction of $104,867.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven J. Hilton sold 39,500 shares of Meritage Homes stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $101.41, for a total transaction of $4,005,695.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,181 shares of company stock valued at $9,116,246. 1.80% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of MTH. Vident Investment Advisory LLC grew its holdings in shares of Meritage Homes by 3.8% during the 4th quarter. Vident Investment Advisory LLC now owns 12,397 shares of the construction company’s stock valued at $1,512,000 after purchasing an additional 450 shares during the last quarter. Wells Fargo & Company MN grew 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 acquiring an additional 1,405 shares during the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in shares of Meritage Homes in the 4th quarter worth approximately $2,503,000. Allianz Asset Management GmbH lifted its position in shares of Meritage Homes by 59.2% in 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 period. Finally, Toroso Investments LLC lifted its position in shares of Meritage Homes by 7.4% in the 4th quarter. Toroso Investments LLC now owns 13,823 shares of the construction company’s stock worth $1,687,000 after purchasing an additional 958 shares during the period. Institutional investors own 94.62% of the company’s stock.

MTH has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Meritage Homes from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research report on Tuesday, January 4th. KeyCorp downgraded shares of Meritage Homes from an “overweight” rating to a “sector weight” rating in a research report on Monday, January 31st. The Goldman Sachs Group decreased their target price on shares of Meritage Homes from $114.00 to $92.00 and set a “neutral” rating for the company in a research report on Tuesday, April 12th. UBS Group initiated coverage on shares of Meritage Homes in a research report on Wednesday, January 19th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Meritage Homes from $111.00 to $89.00 and set a “neutral” rating for the company in a research report on Wednesday, April 13th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Meritage Homes has an average rating of “Buy” and an average price target of $120.14.

Meritage Homes Company Profile (Get Rating)

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for first-time and first move-up buyers.

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Earnings History for Meritage Homes (NYSE:MTH)

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