Meritage Homes Co. (NYSE:MTH) Announces Quarterly Dividend of $0.75

by · The Markets Daily

Meritage Homes Co. (NYSE:MTH – Get Free Report) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders of record on Tuesday, December 17th will be given a dividend of 0.75 per share by the construction company on Tuesday, December 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Tuesday, December 17th.

Meritage Homes has a dividend payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Meritage Homes to earn $21.47 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 14.0%.

Meritage Homes Trading Up 3.8 %

NYSE MTH traded up $6.76 on Friday, reaching $184.44. The company had a trading volume of 388,063 shares, compared to its average volume of 411,087. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Meritage Homes has a 52 week low of $137.70 and a 52 week high of $213.98. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 8.04 and a beta of 1.82. The stock’s 50 day moving average is $192.66 and its 200-day moving average is $184.19.

Meritage Homes (NYSE:MTH – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $5.34 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.29. Meritage Homes had a net margin of 12.63% and a return on equity of 16.89%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm earned $5.98 EPS. Meritage Homes’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts predict that Meritage Homes will post 21.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Meritage Homes from $210.00 to $198.00 and set a “market perform” rating for the company in a research report on Tuesday, November 5th. Raymond James lowered Meritage Homes from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. StockNews.com lowered Meritage Homes from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Wedbush upgraded shares of Meritage Homes from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $160.00 to $195.00 in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and lifted their price target for the company from $205.00 to $235.00 in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $218.17.

Check Out Our Latest Analysis on Meritage Homes

About Meritage Homes

(Get Free Report)

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.

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