FY2024 EPS Estimates for Meritage Homes Increased by Wedbush

Meritage Homes Co. (NYSE:MTH) – Stock analysts at Wedbush upped their FY2024 earnings estimates for Meritage Homes in a research report issued on Thursday, October 31st. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings of $21.19 per share for the year, up from their prior forecast of $20.51. Wedbush has a “Neutral” rating and a $195.00 price target on the stock. The consensus estimate for Meritage Homes’ current full-year earnings is $21.09 per share. Wedbush also issued estimates for Meritage Homes’ Q4 2024 earnings at $4.45 EPS, Q2 2025 earnings at $5.61 EPS, FY2025 earnings at $21.85 EPS, Q2 2026 earnings at $5.81 EPS and FY2026 earnings at $24.18 EPS.

Several other analysts have also commented on MTH. Wolfe Research upgraded shares of Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price target on the stock in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods lifted their price target on Meritage Homes from $195.00 to $210.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group upgraded Meritage Homes from a “neutral” rating to a “buy” rating and increased their price target for the stock from $205.00 to $235.00 in a research report on Thursday, October 31st. Raymond James raised their price objective on Meritage Homes from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Meritage Homes from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.17.

Meritage Homes Trading Up 1.2 %

Meritage Homes stock opened at $185.58 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.93 and a debt-to-equity ratio of 0.26. The firm has a market cap of $6.74 billion, a PE ratio of 8.40 and a beta of 1.82. The stock’s 50 day simple moving average is $195.80 and its two-hundred day simple moving average is $182.49. Meritage Homes has a 12 month low of $129.42 and a 12 month high of $213.98.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $5.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.29. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Meritage Homes had a return on equity of 16.89% and a net margin of 12.63%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.98 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Meritage Homes by 15.5% during the third quarter. CWM LLC now owns 433 shares of the construction company’s stock worth $89,000 after buying an additional 58 shares in the last quarter. Assetmark Inc. raised its holdings in Meritage Homes by 53.6% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the construction company’s stock valued at $35,000 after acquiring an additional 60 shares during the last quarter. Xponance Inc. lifted its stake in Meritage Homes by 2.9% in the 2nd quarter. Xponance Inc. now owns 2,288 shares of the construction company’s stock worth $370,000 after purchasing an additional 64 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in Meritage Homes by 2.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,719 shares of the construction company’s stock worth $558,000 after purchasing an additional 66 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Meritage Homes by 4.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,689 shares of the construction company’s stock worth $296,000 after purchasing an additional 70 shares during the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

Meritage Homes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Monday, September 16th. Meritage Homes’s payout ratio is 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.