Meritage Homes (NYSE:MTH) Releases FY 2024 Earnings Guidance

Meritage Homes (NYSE:MTH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 19.800-21.000 for the period, compared to the consensus earnings per share estimate of 20.210. The company issued revenue guidance of -.

Meritage Homes Price Performance

NYSE MTH traded down $6.22 on Wednesday, reaching $191.43. 531,457 shares of the stock traded hands, compared to its average volume of 425,042. Meritage Homes has a 12 month low of $109.23 and a 12 month high of $205.20. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21. The firm’s fifty day simple moving average is $171.53 and its 200 day simple moving average is $166.12. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 8.93 and a beta of 1.80.

Meritage Homes (NYSE:MTH) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $5.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $1.52. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.28 billion. Meritage Homes had a net margin of 12.54% and a return on equity of 17.63%. As a group, research analysts predict that Meritage Homes will post 20.27 EPS for the current fiscal year.

Meritage Homes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Friday, June 14th. Meritage Homes’s payout ratio is 13.99%.

Analyst Ratings Changes

Several research firms have recently weighed in on MTH. Wedbush reissued an underperform rating and set a $148.00 price objective on shares of Meritage Homes in a research note on Tuesday, May 21st. Raymond James initiated coverage on Meritage Homes in a research note on Wednesday. They issued an outperform rating and a $220.00 price target on the stock. Evercore ISI boosted their price objective on Meritage Homes from $219.00 to $221.00 and gave the stock an outperform rating in a report on Monday, July 15th. StockNews.com upgraded shares of Meritage Homes from a hold rating to a buy rating in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Meritage Homes from $180.00 to $195.00 and gave the company a market perform rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $192.33.

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.