Brokerages Anticipate Meritage Corporation (MTH) Will Announce Quarterly Sales of $932.96 Million

Equities research analysts predict that Meritage Corporation (NYSE:MTH) will report $932.96 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Meritage’s earnings, with the highest sales estimate coming in at $947.79 million and the lowest estimate coming in at $900.00 million. Meritage posted sales of $880.71 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.9%. The company is scheduled to announce its next earnings results on Wednesday, February 7th.

On average, analysts expect that Meritage will report full-year sales of $932.96 million for the current fiscal year, with estimates ranging from $3.19 billion to $3.24 billion. For the next fiscal year, analysts anticipate that the business will post sales of $3.39 billion per share, with estimates ranging from $3.35 billion to $3.43 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Meritage.

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

Several brokerages have recently issued reports on MTH. Zacks Investment Research lowered Meritage from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Citigroup boosted their price objective on Meritage from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Finally, UBS started coverage on Meritage in a research report on Wednesday, October 25th. They set a “neutral” rating and a $52.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Meritage currently has an average rating of “Hold” and a consensus price target of $43.20.

Meritage (NYSE:MTH) opened at $50.50 on Friday. Meritage has a 52 week low of $33.40 and a 52 week high of $55.50. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $2,008.24, a price-to-earnings ratio of 13.18, a PEG ratio of 1.34 and a beta of 1.53.

In related news, EVP Javier Feliciano sold 1,009 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total transaction of $35,869.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Gary Sarver sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total value of $605,640.00. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of MTH. Public Employees Retirement System of Ohio raised its stake in Meritage by 12.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,909 shares of the construction company’s stock worth $123,000 after buying an additional 328 shares during the period. Riverhead Capital Management LLC raised its stake in Meritage by 88.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,196 shares of the construction company’s stock worth $135,000 after buying an additional 1,496 shares during the period. Sei Investments Co. bought a new stake in Meritage during the 2nd quarter worth approximately $170,000. Victory Capital Management Inc. increased its holdings 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 purchasing an additional 609 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in Meritage during the 2nd quarter worth approximately $222,000. 98.20% of the stock is currently owned by institutional investors and hedge funds.

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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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