Meritage Homes FY2024 EPS Estimate Boosted by Zacks Research

Meritage Homes Co. (NYSE:MTH) – Equities researchers at Zacks Research lifted their FY2024 earnings per share estimates for shares of Meritage Homes in a note issued to investors on Tuesday, January 7th. Zacks Research analyst S. Mukherjee now anticipates that the construction company will earn $21.20 per share for the year, up from their prior forecast of $10.60. The consensus estimate for Meritage Homes’ current full-year earnings is $21.27 per share. Zacks Research also issued estimates for Meritage Homes’ Q4 2024 earnings at $4.49 EPS, Q1 2025 earnings at $4.48 EPS, Q2 2025 earnings at $5.91 EPS, Q3 2025 earnings at $5.83 EPS, Q4 2025 earnings at $5.78 EPS, FY2025 earnings at $21.99 EPS, Q1 2026 earnings at $5.08 EPS, Q2 2026 earnings at $6.38 EPS, Q3 2026 earnings at $6.63 EPS, Q4 2026 earnings at $6.25 EPS and FY2026 earnings at $24.33 EPS.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $98.50 price objective (down from $110.00) on shares of Meritage Homes in a research report on Friday, December 13th. UBS Group decreased their price target on Meritage Homes from $126.00 to $118.00 and set a “buy” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods dropped their target price on shares of Meritage Homes from $105.00 to $99.00 and set a “market perform” rating on the stock in a report on Tuesday, November 5th. The Goldman Sachs Group raised Meritage Homes from a “neutral” rating to a “buy” rating and raised their price target for the stock from $102.50 to $117.50 in a report on Thursday, October 31st. Finally, Raymond James downgraded Meritage Homes from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $109.56.

Meritage Homes Trading Down 2.8 %

Shares of MTH opened at $74.07 on Friday. The firm has a market capitalization of $2.68 billion, a P/E ratio of 3.35 and a beta of 1.82. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $89.53 and its 200 day simple moving average is $92.51. Meritage Homes has a twelve month low of $73.05 and a twelve month high of $106.99.

Meritage Homes (NYSE:MTH) last released its earnings results on Tuesday, October 29th. The construction company reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.15. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Meritage Homes had a net margin of 12.63% and a return on equity of 16.89%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.99 EPS.

Institutional Investors Weigh In On Meritage Homes

Institutional investors have recently modified their holdings of the business. Wedge Capital Management L L P NC grew its holdings in shares of Meritage Homes by 734.4% during the third quarter. Wedge Capital Management L L P NC now owns 272,122 shares of the construction company’s stock worth $55,804,000 after buying an additional 239,511 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Meritage Homes during the 3rd quarter worth approximately $44,029,000. Point72 Asset Management L.P. bought a new position in shares of Meritage Homes during the 3rd quarter worth approximately $36,365,000. FMR LLC raised its holdings in shares of Meritage Homes by 75.1% in the third quarter. FMR LLC now owns 347,227 shares of the construction company’s stock valued at $71,206,000 after purchasing an additional 148,898 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Meritage Homes by 26.9% in the third quarter. Westfield Capital Management Co. LP now owns 483,159 shares of the construction company’s stock worth $99,081,000 after purchasing an additional 102,502 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Meritage Homes Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Tuesday, December 17th. Meritage Homes’s dividend payout ratio is presently 13.58%.

Meritage Homes Company Profile

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.