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 Trading Down 1.6 %

Meritage Homes stock traded down $2.97 during trading on Wednesday, hitting $177.57. The company’s stock had a trading volume of 690,532 shares, compared to its average volume of 408,467. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 8.28 and a beta of 1.80. The stock’s fifty day moving average is $196.48 and its 200 day moving average is $181.86. 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.

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

Meritage Homes Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Evercore ISI upped their price target on Meritage Homes from $219.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods upped their price target on Meritage Homes from $195.00 to $210.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group upped their target price on Meritage Homes from $173.00 to $197.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Raymond James upped their target price on Meritage Homes from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Wolfe Research raised Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 target price for the company in a research report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $213.83.

Meritage Homes Company Profile

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.