Zacks Research Boosts Earnings Estimates for Meritage Homes

Meritage Homes Co. (NYSE:MTH) – Equities researchers at Zacks Research upped their FY2024 EPS estimates for shares of Meritage Homes in a note issued to investors on Tuesday, January 7th. Zacks Research analyst S. Mukherjee now expects that the construction company will post earnings per share of $21.20 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.

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

A number of other equities analysts also recently issued reports on MTH. Keefe, Bruyette & Woods lowered their price target on Meritage Homes from $105.00 to $99.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 5th. Wedbush reiterated a “neutral” rating and set a $103.00 target price (down previously from $205.00) on shares of Meritage Homes in a research report on Tuesday. StockNews.com raised shares of Meritage Homes from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. UBS Group cut their price objective on Meritage Homes from $126.00 to $118.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Raymond James downgraded shares of Meritage Homes from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $109.56.

Meritage Homes Trading Up 2.2 %

MTH stock opened at $76.12 on Friday. Meritage Homes has a 52-week low of $73.05 and a 52-week high of $106.99. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.75 billion, a P/E ratio of 3.45 and a beta of 1.82. The company’s 50-day simple moving average is $89.53 and its 200-day simple moving average is $92.51.

Meritage Homes Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.375 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.50 annualized dividend and a dividend yield of 1.97%. Meritage Homes’s dividend payout ratio is currently 13.58%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Arizona State Retirement System boosted its holdings in Meritage Homes by 1.1% in the second quarter. Arizona State Retirement System now owns 10,126 shares of the construction company’s stock valued at $1,639,000 after purchasing an additional 109 shares in the last quarter. Savant Capital LLC grew its position in shares of Meritage Homes by 7.2% in the 2nd quarter. Savant Capital LLC now owns 2,665 shares of the construction company’s stock valued at $431,000 after buying an additional 178 shares during the last quarter. Acadian Asset Management LLC raised its stake in Meritage Homes by 86.8% during the 2nd quarter. Acadian Asset Management LLC now owns 6,140 shares of the construction company’s stock worth $992,000 after acquiring an additional 2,853 shares in the last quarter. Caprock Group LLC lifted its position in Meritage Homes by 11.0% in the second quarter. Caprock Group LLC now owns 1,387 shares of the construction company’s stock valued at $224,000 after acquiring an additional 137 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in Meritage Homes in the second quarter valued at $222,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

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.