Meritage Homes (MTH) Projected to Post Earnings on Wednesday

Meritage Homes (NYSE:MTH) is projected to issue its quarterly earnings data after the market closes on Wednesday, January 29th. Analysts expect the company to announce earnings of $4.55 per share and revenue of $1,578,830.00 billion for the quarter. Meritage Homes has set its Q4 guidance at $4.10 to $4.60 EPS and its Q4 2024 guidance at 4.100-4.600 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.15. Meritage Homes had a net margin of 12.63% and a return on equity of 16.89%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted $2.99 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts expect Meritage Homes to post $12 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Meritage Homes Stock Down 1.5 %

Meritage Homes stock opened at $80.96 on Monday. The firm has a 50 day simple moving average of $86.71 and a 200 day simple moving average of $92.74. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. Meritage Homes has a 1-year low of $73.05 and a 1-year high of $106.99. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 7.33 and a beta of 1.87.

Meritage Homes Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, December 17th. Meritage Homes’s payout ratio is 13.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTH. The Goldman Sachs Group lowered their price objective on Meritage Homes from $117.50 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wedbush reaffirmed a “neutral” rating and issued a $103.00 price target (down previously from $205.00) on shares of Meritage Homes in a report on Tuesday, January 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $98.50 price objective (down previously from $110.00) on shares of Meritage Homes in a report on Friday, December 13th. UBS Group decreased their price objective on shares of Meritage Homes from $126.00 to $118.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Raymond James lowered shares of Meritage Homes from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $107.38.

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.