Meritage Homes Corp. (MTH) Stock Rating Lowered by Zacks Investment Research
Meritage Homes Corp. (NYSE:MTH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.
According to Zacks, “Meritage Homes Corp. is one of the nation’s largest single-family homebuilders. “
Other analysts have also recently issued research reports about the company. TheStreet upgraded Meritage Homes Corp. from a “hold” rating to a “buy” rating in a research report on Friday, June 17th. JMP Securities restated a “market perform” rating on shares of Meritage Homes Corp. in a research report on Friday, June 24th. Credit Suisse Group AG restated a “hold” rating on shares of Meritage Homes Corp. in a research report on Tuesday, June 28th. Zelman & Associates cut Meritage Homes Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Finally, FBR & Co upped their price target on Meritage Homes Corp. from $36.00 to $41.00 and gave the stock a “market perform” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.50.
Shares of Meritage Homes Corp. (NYSE:MTH) opened at 33.80 on Friday. Meritage Homes Corp. has a 52-week low of $25.48 and a 52-week high of $41.33. The company has a 50-day moving average price of $34.51 and a 200-day moving average price of $36.14. The company has a market cap of $1.35 billion, a P/E ratio of 9.83 and a beta of 1.25.
Meritage Homes Corp. (NYSE:MTH) last posted its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. Meritage Homes Corp. had a return on equity of 11.36% and a net margin of 5.05%. The company had revenue of $797.90 million for the quarter, compared to the consensus estimate of $747.14 million. During the same quarter in the prior year, the company earned $0.70 earnings per share. Meritage Homes Corp.’s revenue was up 33.5% on a year-over-year basis. On average, equities analysts predict that Meritage Homes Corp. will post $3.56 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted 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. Rocky Mountain Advisers LLC purchased a new position in Meritage Homes Corp. during the second quarter valued at $113,000. Bank of Montreal Can purchased a new position in Meritage Homes Corp. during the second quarter valued at $168,000. C M Bidwell & Associates Ltd. purchased a new position in Meritage Homes Corp. during the second quarter valued at $173,000. Finally, PineBridge Investments L.P. boosted its position in Meritage Homes Corp. by 4.4% in the second quarter. PineBridge Investments L.P. now owns 4,719 shares of the company’s stock valued at $177,000 after buying an additional 198 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.
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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