Meritage Homes Co. Expected to Earn Q4 2024 Earnings of $5.38 Per Share (NYSE:MTH)

Meritage Homes Co. (NYSE:MTH) – Analysts at Zacks Research cut their Q4 2024 earnings per share (EPS) estimates for shares of Meritage Homes in a research note issued on Wednesday, April 10th. Zacks Research analyst S. Mukherjee now expects that the construction company will post earnings of $5.38 per share for the quarter, down from their prior forecast of $5.39. The consensus estimate for Meritage Homes’ current full-year earnings is $17.78 per share. Zacks Research also issued estimates for Meritage Homes’ Q4 2025 earnings at $5.64 EPS.

Several other analysts also recently weighed in on the company. The Goldman Sachs Group boosted their target price on Meritage Homes from $151.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Wedbush downgraded Meritage Homes from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $155.00 to $148.00 in a report on Tuesday, April 2nd. Seaport Res Ptn downgraded Meritage Homes from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. Zelman & Associates raised Meritage Homes from a “neutral” rating to an “outperform” rating in a research note on Monday, February 26th. Finally, StockNews.com downgraded Meritage Homes from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $172.67.

Meritage Homes Stock Down 2.5 %

Meritage Homes stock opened at $155.16 on Monday. Meritage Homes has a fifty-two week low of $109.23 and a fifty-two week high of $179.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $5.64 billion, a P/E ratio of 7.79 and a beta of 1.77. The stock has a 50-day simple moving average of $159.31 and a 200-day simple moving average of $151.04.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings results on Wednesday, January 31st. The construction company reported $5.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.20. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.52 billion. Meritage Homes had a return on equity of 17.03% and a net margin of 12.03%.

Meritage Homes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Meritage Homes’s previous quarterly dividend of $0.27. This represents a $3.00 annualized dividend and a yield of 1.93%. Meritage Homes’s dividend payout ratio is currently 15.06%.

Insiders Place Their Bets

In other Meritage Homes news, CEO Phillippe Lord sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $162.79, for a total transaction of $406,975.00. Following the transaction, the chief executive officer now owns 100,266 shares in the company, valued at approximately $16,322,302.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meritage Homes news, CAO Alison Sasser sold 355 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $152.61, for a total transaction of $54,176.55. Following the transaction, the chief accounting officer now owns 869 shares in the company, valued at approximately $132,618.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phillippe Lord sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $162.79, for a total value of $406,975.00. Following the transaction, the chief executive officer now owns 100,266 shares in the company, valued at approximately $16,322,302.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,998 shares of company stock worth $635,171. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Meritage Homes

Institutional investors and hedge funds have recently modified their holdings of the company. Lindbrook Capital LLC grew its holdings in shares of Meritage Homes by 91.6% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the construction company’s stock worth $36,000 after acquiring an additional 98 shares during the period. Parallel Advisors LLC grew its holdings in shares of Meritage Homes by 157.6% in the 4th quarter. Parallel Advisors LLC now owns 237 shares of the construction company’s stock worth $41,000 after acquiring an additional 145 shares during the period. Hollencrest Capital Management acquired a new stake in shares of Meritage Homes in the 1st quarter worth approximately $29,000. Principal Securities Inc. acquired a new stake in shares of Meritage Homes in the 4th quarter worth approximately $47,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Meritage Homes in the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 98.44% of the company’s stock.

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.