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

Meritage Homes (NYSE:MTH) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 4.100-4.600 for the period, compared to the consensus EPS 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

Shares of MTH stock traded down $4.03 during mid-day trading on Tuesday, reaching $180.45. The company’s stock had a trading volume of 1,044,273 shares, compared to its average volume of 407,118. The firm’s 50-day moving average is $196.82 and its two-hundred day moving average is $181.89. The company has a market cap of $6.55 billion, a P/E ratio of 8.42 and a beta of 1.80. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MTH. The Goldman Sachs Group upped their price objective on shares of Meritage Homes from $173.00 to $197.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Evercore ISI lifted their price objective on Meritage Homes from $219.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. StockNews.com cut Meritage Homes from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Wedbush raised Meritage Homes from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $160.00 to $195.00 in a report on Tuesday, October 15th. Finally, Wolfe Research upgraded shares of Meritage Homes from a “peer perform” rating to an “outperform” rating and set a $230.00 price target on the stock in a research report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Meritage Homes presently has a consensus rating of “Hold” and an average price target of $213.83.

Insider Activity at Meritage Homes

In related news, CFO Hilla Sferruzza sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were 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 owns 44,570 shares in the company, valued at $9,136,850. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.