Meritage Homes Corp. (MTH) Trading 2.9% Higher
Meritage Homes Corp. (NYSE:MTH)’s share price traded up 2.9% on Tuesday . The company traded as high as $36.29 and last traded at $35.88, with a volume of 167,338 shares traded. The stock had previously closed at $34.86.
A number of equities analysts recently weighed in on the stock. FBR & Co restated a “hold” rating and issued a $36.00 price objective on shares of Meritage Homes Corp. in a report on Friday, April 29th. JPMorgan Chase & Co. lowered shares of Meritage Homes Corp. from an “overweight” rating to a “neutral” rating and set a $37.50 price objective for the company. in a report on Tuesday, August 2nd. Zacks Investment Research lowered shares of Meritage Homes Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 2nd. TheStreet upgraded shares of Meritage Homes Corp. from a “hold” rating to a “buy” rating in a report on Friday, June 17th. Finally, Credit Suisse Group AG restated a “sell” rating and issued a $36.00 price objective on shares of Meritage Homes Corp. in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. Meritage Homes Corp. has an average rating of “Hold” and a consensus target price of $38.94.
The firm has a market capitalization of $1.43 billion and a PE ratio of 10.36. The stock’s 50 day moving average price is $37.45 and its 200 day moving average price is $35.77.
Meritage Homes Corp. (NYSE:MTH) last announced its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.15. The firm earned $797.90 million during the quarter, compared to analyst estimates of $747.14 million. During the same quarter last year, the business earned $0.70 earnings per share. Meritage Homes Corp.’s revenue was up 33.5% on a year-over-year basis. On average, analysts forecast that Meritage Homes Corp. will post $3.57 earnings per share for the current year.
In other news, Director Gerald W. Haddock sold 7,500 shares of Meritage Homes Corp. stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $38.11, for a total transaction of $285,825.00. Following the completion of the sale, the director now directly owns 43,000 shares in the company, valued at $1,638,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter L. Ax sold 15,000 shares of Meritage Homes Corp. stock in a transaction on Monday, June 13th. The stock was sold at an average price of $36.71, for a total transaction of $550,650.00. Following the sale, the director now owns 45,000 shares of the company’s stock, valued at $1,651,950. The disclosure for this sale can be found here.
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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