Meritage Corporation (NYSE:MTH) – Analysts at JMP Securities raised their FY2018 earnings estimates for Meritage Corporation in a note issued to investors on Monday, according to Zacks Investment Research. JMP Securities analyst P. Martin now expects that the construction company will post earnings of $4.43 per share for the year, up from their previous forecast of $4.34. JMP Securities also issued estimates for Meritage Corporation’s Q4 2018 earnings at $1.61 EPS, Q2 2019 earnings at $1.13 EPS, Q3 2019 earnings at $1.36 EPS and FY2019 earnings at $4.89 EPS.
Meritage Corporation (NYSE:MTH) last announced its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.09. The company had revenue of $805.60 million for the quarter, compared to analysts’ expectations of $827.40 million. Meritage Corporation had a net margin of 5.04% and a return on equity of 10.81%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS.
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Several other research firms also recently weighed in on MTH. UBS AG assumed coverage on shares of Meritage Corporation in a research report on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 target price on the stock. Citigroup Inc. lifted their target price on shares of Meritage Corporation from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Barclays PLC reissued an “underweight” rating and issued a $38.00 target price (up from $36.00) on shares of Meritage Corporation in a research report on Wednesday, August 2nd. Deutsche Bank AG lifted their target price on shares of Meritage Corporation from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of Meritage Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Meritage Corporation currently has a consensus rating of “Hold” and a consensus price target of $43.20.
Meritage Corporation (MTH) traded up $0.60 during trading on Thursday, hitting $48.45. 233,400 shares of the stock traded hands, compared to its average volume of 301,658. The stock has a market capitalization of $1,953.80, a P/E ratio of 12.82, a P/E/G 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.
A number of hedge funds and other institutional investors have recently bought and sold shares of MTH. Public Employees Retirement System of Ohio lifted its stake in Meritage Corporation by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock valued at $123,000 after acquiring an additional 328 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Meritage Corporation by 64.9% in the first quarter. Victory Capital Management Inc. now owns 3,457 shares of the construction company’s stock valued at $127,000 after acquiring an additional 1,361 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Meritage Corporation by 88.0% in the second quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock valued at $135,000 after acquiring an additional 1,496 shares during the last quarter. SG Americas Securities LLC lifted its stake in Meritage Corporation by 8.1% in the first quarter. SG Americas Securities LLC now owns 4,428 shares of the construction company’s stock valued at $163,000 after acquiring an additional 331 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in Meritage Corporation in the second quarter valued at approximately $170,000. Hedge funds and other institutional investors own 99.48% of the company’s stock.
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 filing with the SEC, which is available through this hyperlink. Insiders own 5.60% of the company’s stock.
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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