Meritage Homes Corp. (MTH) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Meritage Homes Corp. (NYSE:MTH) have been assigned an average rating of “Hold” from the fourteen research firms that are currently covering the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $38.64.
A number of research firms have commented on MTH. TheStreet upgraded Meritage Homes Corp. from a “hold” rating to a “buy” rating in a research note on Friday, June 17th. JMP Securities reiterated a “market perform” rating on shares of Meritage Homes Corp. in a research note on Friday, June 24th. Credit Suisse Group AG reiterated a “hold” rating on shares of Meritage Homes Corp. in a research note on Tuesday, June 28th. Zacks Investment Research upgraded Meritage Homes Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Wednesday, July 6th. Finally, Zelman & Associates cut Meritage Homes Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 11th.
Shares of Meritage Homes Corp. (NYSE:MTH) traded down 0.41% on Tuesday, hitting $34.24. The company had a trading volume of 64,233 shares. The stock’s 50-day moving average is $34.74 and its 200 day moving average is $36.21. Meritage Homes Corp. has a 52 week low of $25.48 and a 52 week high of $41.33. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 9.96 and a beta of 1.25.
Meritage Homes Corp. (NYSE:MTH) last issued its quarterly earnings data 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 last year, the company earned $0.70 earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. Equities analysts expect that Meritage Homes Corp. will post $3.56 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capstone Asset Management Co. boosted its position in shares of Meritage Homes Corp. by 13.3% in the second quarter. Capstone Asset Management Co. now owns 18,360 shares of the company’s stock valued at $689,000 after buying an additional 2,160 shares during the last quarter. Fisher Asset Management LLC raised its stake in Meritage Homes Corp. by 3.8% in the second quarter. Fisher Asset Management LLC now owns 1,781,541 shares of the company’s stock valued at $69,943,000 after buying an additional 65,862 shares during the period. BNP Paribas Arbitrage SA raised its stake in Meritage Homes Corp. by 106.9% in the second quarter. BNP Paribas Arbitrage SA now owns 12,378 shares of the company’s stock valued at $465,000 after buying an additional 6,394 shares during the period. A.R.T. Advisors LLC bought a new stake in Meritage Homes Corp. during the first quarter valued at approximately $1,043,000. Finally, Renaissance Technologies LLC bought a new stake in Meritage Homes Corp. during the first quarter valued at approximately $1,735,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.
About Meritage Homes Corp.
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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