Meritage Homes (MTH) Set to Announce Quarterly Earnings on Wednesday

Meritage Homes (NYSE:MTH) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $3.55 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Wednesday, January 31st. The construction company reported $5.38 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.20. Meritage Homes had a net margin of 12.03% and a return on equity of 17.03%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.52 billion. On average, analysts expect Meritage Homes to post $18 EPS for the current fiscal year and $20 EPS for the next fiscal year.

Meritage Homes Trading Up 1.1 %

Shares of NYSE MTH opened at $152.06 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $158.89 and its two-hundred day moving average price is $152.18. Meritage Homes has a 52-week low of $109.23 and a 52-week high of $179.68. The stock has a market capitalization of $5.52 billion, a P/E ratio of 7.63 and a beta of 1.76.

Meritage Homes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.75 per share. This is a positive change from Meritage Homes’s previous quarterly dividend of $0.27. This represents a $3.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Thursday, March 14th. Meritage Homes’s dividend payout ratio is currently 15.06%.

Analyst Ratings Changes

MTH has been the subject of several recent research reports. StockNews.com lowered shares of Meritage Homes from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. The Goldman Sachs Group raised their target price on shares of Meritage Homes from $151.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Zelman & Associates raised Meritage Homes from a “neutral” rating to an “outperform” rating in a report on Monday, February 26th. Wedbush cut Meritage Homes from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $155.00 to $148.00 in a research report on Tuesday, April 2nd. Finally, Seaport Res Ptn lowered Meritage Homes from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Meritage Homes presently has an average rating of “Hold” and a consensus price target of $172.67.

Insiders Place Their Bets

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