Brokerages Set Meritage Homes Corp (MTH) Target Price at $43.33
Shares of Meritage Homes Corp (NYSE:MTH) have earned a consensus recommendation of “Hold” from the fourteen research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $45.56.
Several equities research analysts have recently issued reports on MTH shares. UBS Group started coverage on Meritage Homes in a research note on Wednesday, October 25th. They issued a “neutral” rating and a $52.00 price objective for the company. Citigroup raised their price objective on Meritage Homes from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. ValuEngine raised Meritage Homes from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered Meritage Homes from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Credit Suisse Group raised Meritage Homes from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $52.00 to $60.00 in a research note on Monday.
In other news, Director Robert Gary Sarver sold 12,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $50.47, for a total value of $605,640.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Javier Feliciano sold 1,009 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $35.55, for a total value of $35,869.95. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.
Shares of Meritage Homes (MTH) traded down $0.10 during trading on Friday, reaching $52.45. The company had a trading volume of 272,072 shares, compared to its average volume of 402,347. The company has a market capitalization of $2,120.00, a price-to-earnings ratio of 13.95, a PEG ratio of 0.91 and a beta of 1.54. Meritage Homes has a 52 week low of $33.40 and a 52 week high of $55.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70.
Meritage Homes (NYSE:MTH) last posted its quarterly earnings data on Friday, October 27th. The construction company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.09. The business had revenue of $805.60 million during the quarter, compared to analyst estimates of $827.40 million. Meritage Homes had a return on equity of 10.81% and a net margin of 5.04%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. sell-side analysts predict that Meritage Homes will post 3.8 earnings per share for the current year.
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About Meritage Homes
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.
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