Meritage Homes (NYSE:MTH) Releases Q4 Earnings Guidance

Meritage Homes (NYSE:MTH) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $4.10 to $4.60 for the period, compared to the consensus earnings per share estimate of $4.67. The company issued revenue guidance of $1.50 billion to $1.59 billion, compared to the consensus revenue estimate of $1.54 billion. Meritage Homes also updated its Q4 2024 guidance to 4.100-4.600 EPS.

Meritage Homes Stock Up 0.7 %

MTH stock traded up $1.29 during trading on Friday, reaching $182.49. The stock had a trading volume of 245,196 shares, compared to its average volume of 409,043. The company has a quick ratio of 1.93, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 8.20 and a beta of 1.80. Meritage Homes has a one year low of $126.46 and a one year high of $213.98. The company’s 50 day moving average is $196.25 and its two-hundred day moving average is $181.86.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $5.34 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.29. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Meritage Homes had a return on equity of 16.89% and a net margin of 12.63%. Meritage Homes’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $5.98 earnings per share. Equities research analysts forecast that Meritage Homes will post 21.09 EPS for the current year.

Meritage Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given 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 1.64%. Meritage Homes’s payout ratio is currently 13.58%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MTH. Raymond James increased their target price on shares of Meritage Homes from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. StockNews.com lowered Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Evercore ISI boosted their target price on Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wedbush upgraded Meritage Homes from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $160.00 to $195.00 in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on Meritage Homes from $195.00 to $210.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Meritage Homes presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.17.

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.