Meritage Homes Corporation (MTH) to Issue Quarterly Dividend of $0.48 on June 30th

Meritage Homes Corporation (NYSE:MTH) declared a quarterly dividend on Thursday, May 21st. Stockholders of record on Tuesday, June 16th will be given a dividend of 0.48 per share by the construction company on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, June 16th.

Meritage Homes has a dividend payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Meritage Homes to earn $6.35 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 30.2%.

Meritage Homes Stock Up 1.1%

MTH stock opened at $74.39 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 3.29 and a beta of 1.39. Meritage Homes has a fifty-two week low of $58.03 and a fifty-two week high of $84.74. The stock has a fifty day moving average of $66.08 and a 200-day moving average of $68.95.

Meritage Homes (NYSE:MTH) last posted its quarterly earnings results on Wednesday, April 22nd. The construction company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.12). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.55 billion. Meritage Homes had a return on equity of 8.08% and a net margin of 6.86%.The firm’s revenue was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 EPS. As a group, equities research analysts predict that Meritage Homes will post 5.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

MTH has been the subject of several research reports. Truist Financial set a $80.00 price target on Meritage Homes and gave the stock a “buy” rating in a research note on Thursday, April 16th. Wall Street Zen upgraded Meritage Homes from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Meritage Homes from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Zacks Research downgraded Meritage Homes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Bank of America cut their price target on Meritage Homes from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.89.

Meritage Homes Company Profile

Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single‐family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high‐performance features aimed at reducing long‐term energy and water consumption for homebuyers.

The company’s core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.