Meritage Homes (NYSE:MTH) Updates Q4 2024 Earnings Guidance

Meritage Homes (NYSE:MTH) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.100-4.600 for the period, compared to the consensus earnings per share estimate of 4.970. The company issued revenue guidance of -. Meritage Homes also updated its Q4 guidance to $4.10 to $4.60 EPS.

Meritage Homes Stock Performance

Shares of NYSE:MTH traded up $1.93 during trading on Friday, reaching $183.13. 254,293 shares of the company’s stock traded hands, compared to its average volume of 409,086. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.93. Meritage Homes has a 12 month low of $126.46 and a 12 month high of $213.98. The company has a 50 day moving average of $196.25 and a 200-day moving average of $181.86. The stock has a market capitalization of $6.65 billion, a P/E ratio of 8.20 and a beta of 1.80.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $5.34 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.29. 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 during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the firm earned $5.98 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts expect that Meritage Homes will post 21.09 EPS for the current year.

Meritage Homes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Monday, September 16th. Meritage Homes’s dividend payout ratio (DPR) is 13.58%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MTH. The Goldman Sachs Group upgraded shares of Meritage Homes from a “neutral” rating to a “buy” rating and upped their target price for the stock from $205.00 to $235.00 in a research report on Thursday. Evercore ISI upped their target price on shares of Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Wolfe Research raised shares of Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price target for the company in a research note on Wednesday, August 14th. Keefe, Bruyette & Woods upped their price target on shares of Meritage Homes from $195.00 to $210.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. Finally, Raymond James upped their price target on shares of Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $220.17.

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.