Meritage Homes (NYSE:MTH) Posts Earnings Results

Meritage Homes (NYSE:MTH) announced its earnings results on Wednesday. The construction company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.55 by $0.12, FiscalAI reports. Meritage Homes had a net margin of 7.73% and a return on equity of 9.25%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm earned $4.72 earnings per share. The business’s revenue for the quarter was down 11.9% on a year-over-year basis.

Meritage Homes Price Performance

Shares of NYSE:MTH opened at $69.98 on Friday. Meritage Homes has a one year low of $59.27 and a one year high of $84.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 11.07 and a beta of 1.48. The firm has a 50 day simple moving average of $70.94 and a 200 day simple moving average of $71.84.

Meritage Homes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, December 17th. Meritage Homes’s dividend payout ratio is currently 17.48%.

Analyst Ratings Changes

Several analysts have recently issued reports on MTH shares. Zacks Research lowered Meritage Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 10th. UBS Group cut their price objective on shares of Meritage Homes from $104.00 to $101.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Citizens Jmp assumed coverage on shares of Meritage Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $90.00 price objective on the stock. Citigroup began coverage on shares of Meritage Homes in a report on Wednesday, January 7th. They issued an “outperform” rating on the stock. Finally, Bank of America restated a “neutral” rating and issued a $82.00 target price (up from $75.00) on shares of Meritage Homes in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $84.25.

Institutional Investors Weigh In On Meritage Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of MTH. Royal Bank of Canada raised its position in Meritage Homes by 134.3% in the first quarter. Royal Bank of Canada now owns 38,658 shares of the construction company’s stock valued at $2,740,000 after purchasing an additional 22,162 shares during the last quarter. AQR Capital Management LLC raised its holdings in Meritage Homes by 51.7% in the 1st quarter. AQR Capital Management LLC now owns 12,937 shares of the construction company’s stock valued at $917,000 after buying an additional 4,407 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Meritage Homes by 58.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,058,850 shares of the construction company’s stock worth $75,051,000 after buying an additional 391,297 shares during the period. Empowered Funds LLC grew its holdings in Meritage Homes by 111.0% during the 1st quarter. Empowered Funds LLC now owns 32,971 shares of the construction company’s stock worth $2,337,000 after acquiring an additional 17,343 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Meritage Homes by 102.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,150 shares of the construction company’s stock worth $22,621,000 after acquiring an additional 161,806 shares during the last quarter. Institutional investors own 98.44% of the company’s stock.

About Meritage Homes

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.