Meritage Homes (NYSE:MTH) Announces Earnings Results

Meritage Homes (NYSE:MTH) posted its quarterly earnings results on Tuesday. The construction company reported $5.34 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.29, Briefing.com reports. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Meritage Homes had a return on equity of 17.99% and a net margin of 12.98%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $5.98 earnings per share. Meritage Homes updated its Q4 guidance to $4.10 to $4.60 EPS and its Q4 2024 guidance to 4.100-4.600 EPS.

Meritage Homes Trading Down 2.2 %

Shares of NYSE MTH opened at $180.45 on Wednesday. The business’s 50 day moving average is $196.82 and its two-hundred day moving average is $181.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.93. Meritage Homes has a 1-year low of $109.23 and a 1-year high of $213.98. The stock has a market capitalization of $6.55 billion, a P/E ratio of 8.42 and a beta of 1.80.

Meritage Homes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.75 per share. The ex-dividend date was Monday, September 16th. This represents a $3.00 annualized dividend and a yield of 1.66%. Meritage Homes’s payout ratio is currently 13.99%.

Wall Street Analyst Weigh In

MTH has been the topic of several research reports. StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Raymond James lifted their target price on Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Wedbush raised Meritage Homes from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $160.00 to $195.00 in a report on Tuesday, October 15th. Wolfe Research raised Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 target price on the stock in a report on Wednesday, August 14th. Finally, The Goldman Sachs Group lifted their target price on Meritage Homes from $173.00 to $197.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Meritage Homes presently has a consensus rating of “Hold” and a consensus target price of $213.83.

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.