Meritage Homes Corp (NYSE:MTH) – Wedbush issued their Q1 2018 earnings per share (EPS) estimates for Meritage Homes in a research note issued on Monday. Wedbush analyst J. Mccanless forecasts that the construction company will post earnings of $0.74 per share for the quarter. Wedbush currently has a “Outperform” rating and a $55.00 target price on the stock. Wedbush also issued estimates for Meritage Homes’ Q2 2018 earnings at $1.29 EPS, Q3 2018 earnings at $1.37 EPS, Q4 2018 earnings at $1.68 EPS, FY2018 earnings at $5.07 EPS, Q1 2019 earnings at $0.74 EPS, Q2 2019 earnings at $1.35 EPS, Q3 2019 earnings at $1.70 EPS, Q4 2019 earnings at $2.05 EPS and FY2019 earnings at $5.84 EPS.
Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Thursday, February 1st. The construction company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.09. The business had revenue of $946.40 million for the quarter, compared to analysts’ expectations of $932.94 million. Meritage Homes had a net margin of 4.44% and a return on equity of 10.76%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share.
A number of other brokerages have also recently issued reports on MTH. ValuEngine raised shares of Meritage Homes from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Bank of America raised shares of Meritage Homes from an “underperform” rating to a “neutral” rating and set a $55.00 price objective on the stock in a research note on Wednesday, February 14th. Credit Suisse Group raised shares of Meritage Homes from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $52.00 to $60.00 in a research note on Monday, January 22nd. Citigroup raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Monday, January 8th. Finally, Barclays raised shares of Meritage Homes from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $52.45.
Meritage Homes stock opened at $44.90 on Thursday. The stock has a market cap of $1,869.33, a P/E ratio of 13.09, a P/E/G ratio of 0.68 and a beta of 1.34. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.87 and a quick ratio of 0.87. Meritage Homes has a one year low of $35.75 and a one year high of $55.50.
In other Meritage Homes news, Director Peter L. Ax sold 12,500 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $44.02, for a total transaction of $550,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP C Timothy White sold 7,333 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $45.20, for a total transaction of $331,451.60. Following the sale, the executive vice president now directly owns 48,705 shares in the company, valued at approximately $2,201,466. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,959 shares of company stock worth $932,597. Insiders own 5.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MTH. Prudential Financial Inc. grew its stake in shares of Meritage Homes by 40.9% in the third quarter. Prudential Financial Inc. now owns 129,698 shares of the construction company’s stock worth $5,758,000 after purchasing an additional 37,680 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Meritage Homes by 63.3% in the third quarter. BNP Paribas Arbitrage SA now owns 20,481 shares of the construction company’s stock worth $909,000 after purchasing an additional 7,942 shares during the last quarter. Sei Investments Co. grew its stake in shares of Meritage Homes by 80.3% in the third quarter. Sei Investments Co. now owns 7,287 shares of the construction company’s stock worth $324,000 after purchasing an additional 3,245 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Meritage Homes by 42.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,850 shares of the construction company’s stock worth $792,000 after purchasing an additional 5,320 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Meritage Homes by 1.8% in the third quarter. Rhumbline Advisers now owns 80,730 shares of the construction company’s stock worth $3,584,000 after purchasing an additional 1,414 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: “Wedbush Comments on Meritage Homes Corp’s Q1 2018 Earnings (MTH)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://ledgergazette.com/2018/03/24/wedbush-comments-on-meritage-homes-corps-q1-2018-earnings-mth.html.
About Meritage Homes
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.
Receive News & Ratings for Meritage Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritage Homes and related companies with MarketBeat.com's FREE daily email newsletter.