Meritage Homes (NYSE:MTH) Releases Q4 2024 Earnings Guidance

Meritage Homes (NYSE:MTH) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 4.100-4.600 for the period, compared to the consensus estimate of 4.970. The company issued revenue guidance of -. Meritage Homes also updated its Q4 guidance to $4.10 to $4.60 EPS.

Meritage Homes Price Performance

MTH stock traded down $4.03 on Tuesday, reaching $180.45. The company had a trading volume of 1,044,273 shares, compared to its average volume of 407,118. Meritage Homes has a 1 year low of $109.23 and a 1 year high of $213.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.93 and a current ratio of 1.93. The company’s fifty day moving average is $196.91 and its 200 day moving average is $181.74. The company has a market cap of $6.55 billion, a P/E ratio of 7.72 and a beta of 1.80.

Meritage Homes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.75 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.00 annualized dividend and a yield of 1.66%. Meritage Homes’s dividend payout ratio (DPR) is presently 13.99%.

Analyst Upgrades and Downgrades

MTH has been the subject of several analyst reports. Raymond James boosted their price target on Meritage Homes from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on Meritage Homes from $173.00 to $197.00 and gave the company a “neutral” rating in a report on Friday, July 26th. StockNews.com downgraded Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Wolfe Research upgraded Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price target for the company in a report on Wednesday, August 14th. Finally, Evercore ISI upped their price objective on Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Meritage Homes presently has a consensus rating of “Hold” and an average target price of $213.83.

Insider Transactions at Meritage Homes

In related news, CFO Hilla Sferruzza sold 2,500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $205.00, for a total value of $512,500.00. Following the completion of the sale, the chief financial officer now directly owns 44,570 shares in the company, valued at approximately $9,136,850. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

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.