Meritage Homes (NYSE:MTH – Get Free Report) 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 – Get Free Report) 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
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.
Read Our Latest Stock Report on MTH
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.
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