Meritage Homes (MTH) Projected to Post Earnings on Wednesday

Meritage Homes (NYSE:MTH) is expected to release its earnings data after the market closes on Wednesday, January 29th. Analysts expect the company to announce earnings of $4.55 per share and revenue of $1,578,830.00 billion for the quarter. Meritage Homes has set its Q4 guidance at $4.10 to $4.60 EPS and its Q4 2024 guidance at 4.100-4.600 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.52 by $0.15. Meritage Homes had a net margin of 12.63% and a return on equity of 16.89%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted $2.99 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts expect Meritage Homes to post $12 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Meritage Homes Trading Down 0.2 %

Shares of MTH stock opened at $80.41 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.82 billion, a P/E ratio of 7.28 and a beta of 1.87. The company has a 50 day moving average of $87.19 and a 200-day moving average of $92.66. Meritage Homes has a 12-month low of $73.05 and a 12-month high of $106.99.

Meritage Homes Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.50 annualized dividend and a dividend yield of 1.87%. Meritage Homes’s payout ratio is presently 13.59%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price objective on Meritage Homes from $105.00 to $99.00 and set a “market perform” rating for the company in a report on Tuesday, November 5th. UBS Group lowered their price target on shares of Meritage Homes from $126.00 to $118.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group dropped their price target on shares of Meritage Homes from $117.50 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com lowered shares of Meritage Homes from a “hold” rating to a “sell” rating in a research note on Saturday, January 11th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $98.50 target price (down previously from $110.00) on shares of Meritage Homes in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $107.38.

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.