World news – Meritage Homes (NYSE: MTH) publishes earnings results, beating estimates by $ 0.61 per share

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Meritage Homes (NYSE: MTH) released its results on Wednesday. The construction company reported earnings per share of $ 3.97 for the quarter, beating Thomson Reuters’ consensus estimate of $ 3.36 by $ 0.61, MarketWatch Earnings reported. The company had revenue of $ 1.41 billion for the quarter, compared to analyst estimates of $ 1.31 billion. Meritage Homes achieved a return on equity of 18.16% and a net margin of 8.88%. Meritage Homes’ quarterly revenue increased 27.7% year over year. For the same quarter last year, the company posted earnings of $ 2.65 per share. Meritage Homes has updated its fiscal year 2021
After close of business instructions to 10.50-11.50 EPS.

NYSE MTH traded at $ 0.69 on Wednesday to hit $ 93.31. The company’s stock had a trading volume of 742,272 shares versus an average volume of 585,856 shares. The company has a market cap of $ 3.51 billion, a P / E of 9.68, a P / E of 0.31, and a beta of 1.65. Meritage Homes has a 52-week low of $ 25.24 and a 52-week high of $ 117.06. The company’s 50-day simple moving average is $ 85.68 and the company’s 200-day simple moving average is $ 94.49. The company has a current rate of 1.65, a fast rate of 1.65, and a leverage ratio of 0.46.

A number of equity analysts recently rated the stock. JPMorgan Chase & Co. lowered Meritage Homes shares from an « overweight » rating to a « neutral » rating and raised its price target on the stock from $ 114.00 to $ 137.00 in a report dated Thursday, October 8th USD. BTIG Research raised its price target on shares in Meritage Homes from USD 117.00 to USD 135.00 and rated the company as a « Buy » in a research report on Friday, October 16. Zelman & Associates lowered Meritage Homes from a « buy » rating to a « hold » rating in a research note on Tuesday, October 13th. Janney Montgomery Scott reported on Meritage Homes in a research note on Thursday, January 21st. They gave the company a « neutral » rating. Finally, Credit Suisse Group raised its target price for Meritage Homes from USD 132.00 to USD 134.00 and rated the share as « Outperform » in a research report on Friday, October 23. Five investment analysts have rated the stock with a hold rating, five with a buy rating and one with a strong buy rating. The stock currently has a consensus rating of « Buy » and a consensus price target of $ 106.44 (adsbygoogle = window.adsbygoogle || []). Push ({});

In other news, COO Phillippe Lord sold 1,080 shares of the company in a transaction that happened on Thursday, November 19. The stock was sold at an average price of $ 91.37 for a total transaction of $ 98,679.60. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC website. 2.00% of the shares are currently owned by insiders.

The Meritage Homes Corporation designs and builds single family homes in the United States. The company operates in two segments: residential construction and financial services. It acquires and develops land; and builds, markets and sells homes for first-time and first-time buyers. The company also offers luxury real estate under the Monterey Homes brand name. and property insurance and close / settlement services for its homebuyers.

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