Meritage Homes (NYSE:MTH) Releases Q4 Earnings Guidance

Meritage Homes (NYSE:MTH) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $4.10 to $4.60 for the period, compared to the consensus EPS estimate of $4.67. The company issued revenue guidance of $1.50 billion to $1.59 billion, compared to the consensus revenue estimate of $1.54 billion. Meritage Homes also updated its Q4 2024 guidance to 4.100-4.600 EPS.

Meritage Homes Stock Performance

MTH traded down $2.97 during trading on Wednesday, reaching $177.57. 690,532 shares of the company’s stock were exchanged, compared to its average volume of 408,467. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.93. Meritage Homes has a 1 year low of $109.23 and a 1 year high of $213.98. The company’s fifty day simple moving average is $196.82 and its 200-day simple moving average is $181.89. The stock has a market capitalization of $6.45 billion, a P/E ratio of 8.35 and a beta of 1.80.

Meritage Homes (NYSE:MTH) last issued its earnings results on Tuesday, October 29th. The construction company reported $5.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.29. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Meritage Homes had a net margin of 12.98% and a return on equity of 17.99%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $5.98 earnings per share. As a group, research analysts predict that Meritage Homes will post 21.09 earnings per share for the current fiscal year.

Meritage Homes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, September 16th. Meritage Homes’s dividend payout ratio (DPR) is 13.99%.

Analyst Ratings Changes

A number of brokerages have issued reports on MTH. Evercore ISI boosted their price target on Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Wedbush raised shares of Meritage Homes from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $160.00 to $195.00 in a report on Tuesday, October 15th. StockNews.com cut shares of Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Raymond James upped their price objective on shares of Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods raised their target price on Meritage Homes from $195.00 to $210.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $213.83.

About Meritage Homes

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.