Shares of Meritage Homes Corporation (NYSE:MTH – Get Free Report) have been given an average rating of “Hold” by the thirteen ratings firms that are covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $80.2222.
Several equities analysts have issued reports on the stock. Wall Street Zen downgraded shares of Meritage Homes from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Zacks Research upgraded shares of Meritage Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Bank of America dropped their target price on shares of Meritage Homes from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Weiss Ratings raised Meritage Homes from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 24th. Finally, Truist Financial set a $80.00 price objective on Meritage Homes and gave the company a “buy” rating in a research report on Thursday, April 16th.
Read Our Latest Stock Analysis on Meritage Homes
Insider Buying and Selling
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in MTH. Salomon & Ludwin LLC raised its holdings in shares of Meritage Homes by 63.9% in the 4th quarter. Salomon & Ludwin LLC now owns 372 shares of the construction company’s stock worth $25,000 after purchasing an additional 145 shares during the period. Essential Partners LLC lifted its position in shares of Meritage Homes by 163.8% during the first quarter. Essential Partners LLC now owns 401 shares of the construction company’s stock worth $25,000 after purchasing an additional 249 shares in the last quarter. Larson Financial Group LLC boosted its position in Meritage Homes by 265.5% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the construction company’s stock valued at $29,000 after buying an additional 292 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new position in Meritage Homes in the fourth quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Meritage Homes by 194.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 699 shares of the construction company’s stock valued at $47,000 after buying an additional 462 shares during the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.
Meritage Homes Stock Down 3.9%
Shares of Meritage Homes stock opened at $71.25 on Friday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. Meritage Homes has a 52-week low of $58.03 and a 52-week high of $85.38. The company has a market capitalization of $4.75 billion, a P/E ratio of 13.07, a P/E/G ratio of 3.28 and a beta of 1.35. The company has a 50 day moving average of $71.98 and a 200 day moving average of $70.27.
Meritage Homes (NYSE:MTH – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.12). Meritage Homes had a net margin of 6.86% and a return on equity of 8.08%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the company posted $1.69 earnings per share. The company’s revenue for the quarter was down 17.5% on a year-over-year basis. As a group, research analysts forecast that Meritage Homes will post 5 EPS for the current fiscal year.
Meritage Homes Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.48 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.92 annualized dividend and a dividend yield of 2.7%. Meritage Homes’s dividend payout ratio (DPR) is 35.23%.
Meritage Homes Company Profile
Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single‐family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high‐performance features aimed at reducing long‐term energy and water consumption for homebuyers.
The company’s core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.
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