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

Meritage Homes (NYSE:MTH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 19.200-20.700 for the period, compared to the consensus earnings per share estimate of 17.690. The company issued revenue guidance of -. Meritage Homes also updated its FY24 guidance to $19.20-20.70 EPS.

Analysts Set New Price Targets

A number of research firms have weighed in on MTH. The Goldman Sachs Group lifted their price target on shares of Meritage Homes from $151.00 to $182.00 and gave the stock a neutral rating in a research note on Thursday, January 11th. Wedbush restated an underperform rating and issued a $148.00 target price on shares of Meritage Homes in a research note on Thursday. Zelman & Associates upgraded shares of Meritage Homes from a neutral rating to an outperform rating in a research note on Monday, February 26th. StockNews.com downgraded shares of Meritage Homes from a buy rating to a hold rating in a research report on Wednesday, January 31st. Finally, Seaport Res Ptn downgraded shares of Meritage Homes from a buy rating to a neutral rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $172.67.

Meritage Homes Trading Up 2.4 %

Shares of MTH stock traded up $3.96 on Friday, reaching $169.03. The company had a trading volume of 479,055 shares, compared to its average volume of 406,478. The company has a 50-day moving average of $159.18 and a 200-day moving average of $152.58. Meritage Homes has a 12 month low of $109.23 and a 12 month high of $179.68. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.22. The stock has a market cap of $6.14 billion, a PE ratio of 7.70 and a beta of 1.77.

Meritage Homes (NYSE:MTH) last posted its earnings results on Wednesday, April 24th. The construction company reported $5.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $1.52. Meritage Homes had a return on equity of 17.92% and a net margin of 12.54%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.28 billion. On average, equities analysts forecast that Meritage Homes will post 17.77 earnings per share for the current year.

Meritage Homes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.77%. This is a boost from Meritage Homes’s previous quarterly dividend of $0.27. The ex-dividend date was Thursday, March 14th. Meritage Homes’s dividend payout ratio is presently 13.99%.

Insider Buying and Selling

In other Meritage Homes news, CEO Phillippe Lord sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $162.79, for a total transaction of $406,975.00. Following the completion of the transaction, the chief executive officer now owns 100,266 shares of the company’s stock, valued at approximately $16,322,302.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Meritage Homes news, CEO Phillippe Lord sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $162.79, for a total transaction of $406,975.00. Following the completion of the transaction, the chief executive officer now owns 100,266 shares of the company’s stock, valued at approximately $16,322,302.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Alison Sasser sold 231 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $152.99, for a total value of $35,340.69. Following the completion of the sale, the chief accounting officer now directly owns 1,859 shares of the company’s stock, valued at approximately $284,408.41. The disclosure for this sale can be found here. In the last three months, insiders sold 3,998 shares of company stock valued at $635,171. 2.00% of the stock is owned by corporate insiders.

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.