Meritage Homes (NYSE:MTH) Issues FY 2024 Earnings Guidance

Meritage Homes (NYSE:MTH) issued an update on its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 19.800-21.000 for the period, compared to the consensus earnings per share estimate of 20.210. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of Meritage Homes from $219.00 to $221.00 and gave the company an outperform rating in a research report on Monday, July 15th. Wedbush reissued an underperform rating and set a $148.00 target price on shares of Meritage Homes in a research report on Tuesday, May 21st. Raymond James assumed coverage on Meritage Homes in a research note on Wednesday. They set an outperform rating and a $220.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on Meritage Homes from $180.00 to $195.00 and gave the stock a market perform rating in a research note on Wednesday, May 8th. Finally, StockNews.com raised Meritage Homes from a hold rating to a buy rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Meritage Homes currently has a consensus rating of Hold and an average price target of $192.33.

Meritage Homes Stock Performance

Shares of NYSE:MTH traded down $6.22 during midday trading on Wednesday, reaching $191.43. The company had a trading volume of 531,457 shares, compared to its average volume of 425,042. Meritage Homes has a 52-week low of $109.23 and a 52-week high of $205.20. The company’s 50 day moving average price is $171.53 and its 200 day moving average price is $166.12. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.21. The stock has a market cap of $6.95 billion, a P/E ratio of 8.93 and a beta of 1.80.

Meritage Homes (NYSE:MTH) last released its earnings results on Wednesday, April 24th. The construction company reported $5.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $1.52. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.28 billion. Meritage Homes had a net margin of 12.54% and a return on equity of 17.63%. As a group, sell-side analysts anticipate that Meritage Homes will post 20.27 EPS for the current fiscal year.

Meritage Homes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, June 14th. Meritage Homes’s dividend payout ratio (DPR) is 13.99%.

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.