Wall Street analysts expect Meritage Homes Corp (NYSE:MTH) to report earnings of $0.74 per share for the current quarter, Zacks reports. Eleven analysts have issued estimates for Meritage Homes’ earnings. The highest EPS estimate is $0.86 and the lowest is $0.66. Meritage Homes posted earnings of $0.56 per share in the same quarter last year, which would suggest a positive year over year growth rate of 32.1%. The firm is expected to announce its next quarterly earnings report on Thursday, April 26th.

On average, analysts expect that Meritage Homes will report full-year earnings of $5.06 per share for the current year, with EPS estimates ranging from $4.93 to $5.20. For the next fiscal year, analysts forecast that the company will report earnings of $5.73 per share, with EPS estimates ranging from $5.17 to $6.24. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Meritage Homes.

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Meritage Homes (NYSE:MTH) last released its quarterly earnings results on Thursday, February 1st. The construction company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.09. The business had revenue of $946.40 million during the quarter, compared to analysts’ expectations of $932.94 million. Meritage Homes had a return on equity of 10.76% and a net margin of 4.44%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS.

Several equities analysts have weighed in on the company. ValuEngine upgraded Meritage Homes from a “buy” rating to a “strong-buy” rating in a report on Tuesday. JPMorgan Chase & Co. upgraded Meritage Homes from a “neutral” rating to an “overweight” rating and raised their price target for the company from $44.75 to $58.00 in a report on Wednesday, March 7th. JMP Securities raised their price target on Meritage Homes from $55.00 to $57.00 and gave the company a “market outperform” rating in a report on Friday, February 2nd. Bank of America raised their price target on Meritage Homes from $51.00 to $55.00 and gave the company an “underperform” rating in a report on Friday, February 2nd. Finally, Credit Suisse Group upgraded Meritage Homes from a “neutral” rating to an “outperform” rating and raised their price target for the company from $52.00 to $60.00 in a report on Monday, January 22nd. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $50.90.

In other news, CFO Hilla Sferruzza sold 589 shares of Meritage Homes stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $45.20, for a total value of $26,622.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter L. Ax sold 12,500 shares of Meritage Homes stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $44.02, for a total value of $550,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,959 shares of company stock valued at $932,597. Company insiders own 5.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in MTH. Arizona State Retirement System boosted its holdings in Meritage Homes by 224.6% during the 4th quarter. Arizona State Retirement System now owns 63,710 shares of the construction company’s stock valued at $3,262,000 after acquiring an additional 44,082 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Meritage Homes by 8.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 269,968 shares of the construction company’s stock valued at $11,987,000 after acquiring an additional 20,308 shares during the period. Earnest Partners LLC boosted its holdings in Meritage Homes by 2.2% during the 3rd quarter. Earnest Partners LLC now owns 1,752,837 shares of the construction company’s stock valued at $77,826,000 after acquiring an additional 37,201 shares during the period. Fox Run Management L.L.C. purchased a new position in Meritage Homes during the 4th quarter valued at $460,000. Finally, HAP Trading LLC boosted its holdings in Meritage Homes by 140.5% during the 4th quarter. HAP Trading LLC now owns 45,508 shares of the construction company’s stock valued at $2,330,000 after acquiring an additional 26,586 shares during the period. Hedge funds and other institutional investors own 95.24% of the company’s stock.

Meritage Homes (NYSE MTH) traded down $1.10 during midday trading on Wednesday, reaching $45.20. The company’s stock had a trading volume of 266,019 shares, compared to its average volume of 470,804. The stock has a market cap of $1,840.00, a PE ratio of 11.59, a PEG ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.87 and a quick ratio of 0.87. Meritage Homes has a fifty-two week low of $35.75 and a fifty-two week high of $55.50.

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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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