Zacks: Brokerages Anticipate Meritage Corporation (MTH) to Announce $1.26 EPS

Brokerages expect Meritage Corporation (NYSE:MTH) to post earnings of $1.26 per share for the current quarter, Zacks reports. Ten analysts have provided estimates for Meritage’s earnings. The highest EPS estimate is $1.32 and the lowest is $1.22. Meritage reported earnings per share of $1.22 in the same quarter last year, which indicates a positive year over year growth rate of 3.3%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, February 7th.

On average, analysts expect that Meritage will report full year earnings of $3.80 per share for the current financial year, with EPS estimates ranging from $3.75 to $3.86. For the next fiscal year, analysts forecast that the business will post earnings of $4.32 per share, with EPS estimates ranging from $4.13 to $4.43. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Meritage.

Meritage (NYSE:MTH) last posted its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.09. Meritage had a net margin of 5.04% and a return on equity of 10.81%. The firm had revenue of $805.60 million for the quarter, compared to analysts’ expectations of $827.40 million. During the same period in the previous year, the company posted $0.88 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year.

Several research firms have recently commented on MTH. Citigroup boosted their price target on shares of Meritage from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, October 30th. UBS began coverage on shares of Meritage in a report on Wednesday, October 25th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, Zacks Investment Research cut shares of Meritage from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $43.20.

Meritage (NYSE MTH) traded down $0.20 during trading on Friday, hitting $54.00. 354,800 shares of the stock traded hands, compared to its average volume of 305,228. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. Meritage has a fifty-two week low of $33.40 and a fifty-two week high of $55.50. The stock has a market cap of $2,185.67, a PE ratio of 14.34, a P/E/G ratio of 1.43 and a beta of 1.53.

In related news, EVP Javier Feliciano sold 1,009 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total value of $35,869.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.60% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Arizona State Retirement System boosted its holdings in Meritage by 0.5% in the second quarter. Arizona State Retirement System now owns 19,728 shares of the construction company’s stock worth $833,000 after purchasing an additional 100 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Meritage by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock worth $123,000 after purchasing an additional 328 shares in the last quarter. Texas Permanent School Fund lifted its position in Meritage by 1.3% during the 2nd quarter. Texas Permanent School Fund now owns 27,667 shares of the construction company’s stock worth $1,168,000 after acquiring an additional 364 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in Meritage by 1.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 23,005 shares of the construction company’s stock worth $971,000 after acquiring an additional 419 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Meritage by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,066 shares of the construction company’s stock worth $172,000 after acquiring an additional 609 shares during the last quarter. Hedge funds and other institutional investors own 98.20% of the company’s stock.

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Meritage Company Profile

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.

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Earnings History and Estimates for Meritage (NYSE:MTH)

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