Meritage Homes Corporation (NYSE:MTH) Receives Consensus Recommendation of “Hold” from Brokerages

Meritage Homes Corporation (NYSE:MTH) has earned a consensus rating of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $74.78.

Several brokerages have recently weighed in on MTH. Zacks Research upgraded Meritage Homes from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Citigroup reiterated a “market outperform” rating on shares of Meritage Homes in a research note on Monday, July 6th. Evercore set a $65.00 target price on Meritage Homes in a research report on Friday, September 25th. Zelman & Associates cut shares of Meritage Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Finally, UBS Group reiterated a “buy” rating and set a $88.00 price objective (up from $86.00) on shares of Meritage Homes in a report on Friday, July 31st.

Meritage Homes Stock Performance

Shares of NYSE:MTH opened at $60.03 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Meritage Homes has a 12 month low of $58.03 and a 12 month high of $85.38. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 4.62 and a beta of 1.33. The firm’s 50-day moving average is $68.17 and its 200 day moving average is $68.87.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.12. Meritage Homes had a net margin of 6.11% and a return on equity of 7.13%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $2.04 earnings per share. The firm’s quarterly revenue was down 14.1% compared to the same quarter last year. Research analysts predict that Meritage Homes will post 5.02 EPS for the current year.

Meritage Homes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.92 annualized dividend and a yield of 3.2%. Meritage Homes’s dividend payout ratio is 40.17%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its position in Meritage Homes by 2.0% in the first quarter. Glenmede Trust Co. NA now owns 9,223 shares of the construction company’s stock valued at $570,000 after acquiring an additional 179 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Meritage Homes by 2.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,916 shares of the construction company’s stock worth $455,000 after purchasing an additional 185 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Meritage Homes by 43.9% during the first quarter. Assetmark Inc. now owns 774 shares of the construction company’s stock worth $48,000 after purchasing an additional 236 shares during the last quarter. Essential Partners LLC increased its position in shares of Meritage Homes by 163.8% during the first quarter. Essential Partners LLC now owns 401 shares of the construction company’s stock worth $25,000 after purchasing an additional 249 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Meritage Homes by 9.1% during the first quarter. Sequoia Financial Advisors LLC now owns 3,772 shares of the construction company’s stock worth $233,000 after purchasing an additional 316 shares in the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Meritage Homes Company Profile

Meritage Homes Corporation is a residential construction company that designs and builds single-family homes in the United States. The company primarily serves entry-level and first-time move-up buyers, offering homes in a range of floor plans, sizes and price points. Its communities typically feature energy-efficient designs and include standard features intended to improve home performance, comfort and affordability.

Meritage Homes develops communities in selected markets across the South, Southeast and West, including areas of Arizona, California, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee and Texas.