Meritage Corporation (NYSE:MTH) is set to announce its earnings results before the market opens on Friday, October 27th. Analysts expect the company to announce earnings of $0.94 per share for the quarter.
Meritage Corporation (NYSE:MTH) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.23. The business had revenue of $802.00 million for the quarter, compared to the consensus estimate of $760.39 million. Meritage Corporation had a net margin of 4.94% and a return on equity of 10.74%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. On average, analysts expect Meritage Corporation to post $3.76 EPS for the current fiscal year and $4.35 EPS for the next fiscal year.
Shares of Meritage Corporation (NYSE MTH) opened at 48.25 on Friday. The stock has a 50 day moving average of $43.44 and a 200-day moving average of $41.39. Meritage Corporation has a 1-year low of $29.70 and a 1-year high of $48.70. The stock has a market capitalization of $1.95 billion, a P/E ratio of 13.28 and a beta of 1.48.
In other Meritage Corporation news, EVP Javier Feliciano sold 1,009 shares of Meritage Corporation stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.55, for a total transaction of $35,869.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.
Several equities research analysts recently issued reports on MTH shares. Credit Suisse Group started coverage on shares of Meritage Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $40.00 target price on the stock. Zacks Investment Research cut shares of Meritage Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. BidaskClub raised shares of Meritage Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Barclays PLC reissued an “underweight” rating on shares of Meritage Corporation in a research report on Thursday, July 13th. Finally, Deutsche Bank AG raised their target price on shares of Meritage Corporation from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $41.13.
About Meritage Corporation
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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