Meritage Homes Corp. (MTH) Given Consensus Recommendation of “Hold” by Brokerages
Meritage Homes Corp. (NYSE:MTH) has been assigned a consensus rating of “Hold” from the fourteen ratings firms that are covering the stock. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $38.64.
Several brokerages have recently issued reports on MTH. Zacks Investment Research cut shares of Meritage Homes Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Wells Fargo & Co. began coverage on shares of Meritage Homes Corp. in a report on Wednesday, September 28th. They issued a “market perform” rating on the stock. TheStreet cut shares of Meritage Homes Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Deutsche Bank AG cut shares of Meritage Homes Corp. from a “buy” rating to a “hold” rating and cut their price target for the company from $41.00 to $38.00 in a report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. cut shares of Meritage Homes Corp. from an “overweight” rating to a “neutral” rating and set a $37.50 price target on the stock. in a report on Tuesday, August 2nd.
Meritage Homes Corp. (NYSE:MTH) traded down 0.41% during mid-day trading on Tuesday, hitting $34.24. 64,233 shares of the stock traded hands. Meritage Homes Corp. has a 52-week low of $25.48 and a 52-week high of $41.33. The firm has a market cap of $1.37 billion, a P/E ratio of 9.96 and a beta of 1.25. The firm’s 50-day moving average is $34.74 and its 200 day moving average is $36.21.
Meritage Homes Corp. (NYSE:MTH) last issued its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. Meritage Homes Corp. had a net margin of 5.05% and a return on equity of 11.36%. The firm had revenue of $797.90 million for the quarter, compared to analysts’ expectations of $747.14 million. During the same quarter last year, the business earned $0.70 earnings per share. The business’s revenue was up 33.5% on a year-over-year basis. Equities analysts predict that Meritage Homes Corp. will post $3.56 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Pacad Investment Ltd. bought a new position in Meritage Homes Corp. during the first quarter valued at about $259,000. TIAA CREF Investment Management LLC raised its position in Meritage Homes Corp. by 31.3% in the first quarter. TIAA CREF Investment Management LLC now owns 221,661 shares of the company’s stock valued at $8,082,000 after buying an additional 52,839 shares in the last quarter. Prudential Financial Inc. raised its position in Meritage Homes Corp. by 494.3% in the first quarter. Prudential Financial Inc. now owns 735,288 shares of the company’s stock valued at $26,808,000 after buying an additional 611,570 shares in the last quarter. BlackRock Inc. raised its position in Meritage Homes Corp. by 86.4% in the first quarter. BlackRock Inc. now owns 3,053 shares of the company’s stock valued at $112,000 after buying an additional 1,415 shares in the last quarter. Finally, BlackRock Group LTD raised its position in Meritage Homes Corp. by 7.8% in the first quarter. BlackRock Group LTD now owns 48,331 shares of the company’s stock valued at $1,762,000 after buying an additional 3,502 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.
Meritage Homes Corp. Company Profile
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee.
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