Meritage Homes Corp (NYSE:MTH) has been given an average rating of “Hold” by the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $44.01.
MTH has been the topic of several recent analyst reports. ValuEngine lowered Meritage Homes from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Citigroup lowered Meritage Homes from a “buy” rating to a “neutral” rating and increased their target price for the company from $45.00 to $50.00 in a report on Friday, February 1st. They noted that the move was a valuation call. Zelman & Associates raised Meritage Homes from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $47.00 target price on shares of Meritage Homes in a report on Thursday, January 31st. Finally, JMP Securities lowered Meritage Homes from an “outperform” rating to a “market perform” rating and set a $45.08 target price on the stock. in a report on Friday, February 1st.
In other Meritage Homes news, CFO Hilla Sferruzza sold 9,310 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $43.40, for a total value of $404,054.00. Following the completion of the transaction, the chief financial officer now owns 30,377 shares in the company, valued at $1,318,361.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Phillippe Lord sold 16,977 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $43.40, for a total transaction of $736,801.80. Following the completion of the transaction, the insider now owns 35,394 shares of the company’s stock, valued at approximately $1,536,099.60. The disclosure for this sale can be found here. Insiders sold 77,124 shares of company stock valued at $3,409,550 in the last 90 days. 6.10% of the stock is currently owned by insiders.
Shares of Meritage Homes stock traded up $0.28 during trading hours on Friday, reaching $52.65. 365,398 shares of the company were exchanged, compared to its average volume of 419,642. Meritage Homes has a 1 year low of $32.02 and a 1 year high of $53.30. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1.96 billion, a P/E ratio of 9.44, a P/E/G ratio of 1.12 and a beta of 1.19.
Meritage Homes (NYSE:MTH) last posted its earnings results on Tuesday, April 23rd. The construction company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $699.00 million for the quarter, compared to analyst estimates of $636.66 million. Meritage Homes had a return on equity of 12.18% and a net margin of 6.00%. Meritage Homes’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. Sell-side analysts predict that Meritage Homes will post 4.8 earnings per share for the current year.
Meritage Homes Company Profile
Meritage Homes Corporation 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. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.
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