Meritage Corporation (NYSE:MTH) issued its quarterly earnings results on Friday, October 27th. The construction company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.09, MarketWatch Earnings reports. Meritage Corporation had a net margin of 5.04% and a return on equity of 10.81%. The business had revenue of $805.60 million during the quarter, compared to the consensus estimate of $827.40 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis.
Shares of Meritage Corporation (MTH) opened at $48.45 on Monday. The company has a market cap of $1,953.79, a P/E ratio of 12.82, a PEG ratio of 1.27 and a beta of 1.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. Meritage Corporation has a 1 year low of $32.60 and a 1 year high of $50.10.
In related news, EVP Javier Feliciano sold 1,009 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total transaction of $35,869.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.60% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Meritage Corporation by 1.1% in the second quarter. Vanguard Group Inc. now owns 3,334,402 shares of the construction company’s stock worth $140,712,000 after purchasing an additional 37,025 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Meritage Corporation in the second quarter worth $365,000. BlackRock Inc. lifted its position in shares of Meritage Corporation by 53,081.0% in the first quarter. BlackRock Inc. now owns 5,361,172 shares of the construction company’s stock worth $197,292,000 after purchasing an additional 5,351,091 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Meritage Corporation in the second quarter worth $388,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Meritage Corporation in the second quarter worth $2,367,000. 99.32% of the stock is currently owned by institutional investors and hedge funds.
MTH has been the topic of a number of recent research reports. UBS AG initiated coverage on shares of Meritage Corporation in a report on Wednesday, October 25th. They set a “neutral” rating and a $52.00 price target on the stock. Citigroup Inc. raised their price target on shares of Meritage Corporation from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Zacks Investment Research lowered shares of Meritage Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Deutsche Bank AG raised their target price on shares of Meritage Corporation from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $38.00 price objective (up from $36.00) on shares of Meritage Corporation in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.20.
Meritage Corporation Company Profile
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.
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