Meritage Homes (MTH) Set to Announce Quarterly Earnings on Tuesday

Meritage Homes (NYSE:MTH) will be announcing its earnings results after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $5.06 per share for the quarter. Meritage Homes has set its FY 2024 guidance at 19.800-21.000 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Wednesday, July 24th. The construction company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.17 by $1.14. Meritage Homes had a net margin of 12.98% and a return on equity of 17.99%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the firm earned $5.02 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts expect Meritage Homes to post $21 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Meritage Homes Trading Down 5.1 %

MTH stock opened at $193.64 on Tuesday. Meritage Homes has a fifty-two week low of $109.23 and a fifty-two week high of $213.98. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 9.03 and a beta of 1.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.93. The business has a fifty day moving average price of $196.31 and a 200 day moving average price of $180.71.

Meritage Homes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Monday, September 16th. Meritage Homes’s payout ratio is presently 13.99%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MTH shares. Wolfe Research raised Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 target price for the company in a research note on Wednesday, August 14th. Keefe, Bruyette & Woods upped their target price on shares of Meritage Homes from $195.00 to $210.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. Wedbush upgraded Meritage Homes from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $160.00 to $195.00 in a report on Tuesday, October 15th. StockNews.com lowered shares of Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Evercore ISI lifted their target price on Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $213.83.

Insiders Place Their Bets

In related news, CEO Phillippe Lord sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $200.35, for a total value of $2,003,500.00. Following the completion of the sale, the chief executive officer now directly owns 90,266 shares in the company, valued at approximately $18,084,793.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Meritage Homes news, CEO Phillippe Lord sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $200.35, for a total value of $2,003,500.00. Following the sale, the chief executive officer now owns 90,266 shares in the company, valued at $18,084,793.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Javier Feliciano sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $198.36, for a total value of $595,080.00. Following the completion of the sale, the executive vice president now directly owns 14,307 shares of the company’s stock, valued at approximately $2,837,936.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,500 shares of company stock valued at $3,111,080. 2.00% of the stock is currently owned by corporate insiders.

About Meritage Homes

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached 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 entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.