Meritage Homes (MTH) Expected to Announce Quarterly Earnings on Wednesday

Meritage Homes (NYSE:MTH) is expected to be issuing its quarterly earnings data after the market closes on Wednesday, January 29th. Analysts expect the company to announce earnings of $4.55 per share and revenue of $1,578,830.00 billion for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Meritage Homes (NYSE:MTH) last announced its 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 return on equity of 16.89% and a net margin of 12.63%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the business earned $2.99 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. On average, analysts expect Meritage Homes to post $12 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Meritage Homes Trading Up 2.2 %

NYSE:MTH opened at $82.74 on Tuesday. The company’s 50 day moving average is $86.59 and its 200-day moving average is $92.70. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Meritage Homes has a 12 month low of $73.05 and a 12 month high of $106.99. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 7.49 and a beta of 1.87.

Meritage Homes Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.50 annualized dividend and a yield of 1.81%. Meritage Homes’s dividend payout ratio (DPR) is presently 13.58%.

Analyst Ratings Changes

MTH has been the subject of a number of recent analyst reports. StockNews.com cut shares of Meritage Homes from a “hold” rating to a “sell” rating in a report on Saturday, January 11th. Raymond James downgraded Meritage Homes from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $98.50 price target (down from $110.00) on shares of Meritage Homes in a report on Friday, December 13th. UBS Group lowered their price objective on shares of Meritage Homes from $126.00 to $118.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Wedbush reiterated a “neutral” rating and set a $103.00 target price (down from $205.00) on shares of Meritage Homes in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $107.38.

About Meritage Homes

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.