Meritage Homes Corp (MTH) was Downgraded by FBN Securities to ” Sector Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. FBN Securities advised their investors in a research report released on Apr 18, 2016.
Many Wall Street Analysts have commented on Meritage Homes Corp. Meritage Homes Corp was Downgraded by Sterne Agee CRT to ” Neutral” on Apr 13, 2016. Company shares were Upgraded by Barclays on Apr 7, 2016 to ” Overweight”, Firm has raised the Price Target to $ 42 from a previous price target of $36 .
On the company’s financial health, Meritage Homes Corp reported $1.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $1.13. The company had revenue of $781.60 million for the quarter, compared to analysts expectations of $790.31 million. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS.
Meritage Homes Corp closed down -0.13 points or -0.34% at $38.65 with 2,15,106 shares getting traded on Friday. Post opening the session at $38.76, the shares hit an intraday low of $38.19 and an intraday high of $38.96 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Feb 18, 2016, Phillippe Lord (Executive Vice President, COO) sold 1,138 shares at $30.78 per share price. According to the SEC, on Feb 18, 2016, C Timothy White (EVP – Gen. Counsel, Secretary) sold 6,812 shares at $30.84 per share price. On Feb 18, 2016, Hilla Sferruzza (Chief Accounting Officer) sold 291 shares at $30.84 per share price, according to the Form-4 filing with the securities and exchange commission.
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It has homebuilding operations in three regions. The West region comprises Arizona California and Colorado; Central region include Texas and the East region comprises Florida Georgia North Carolina South Carolina and Tennessee. It has nine homebuilding operating segments. The homebuilding segments are engaged in the business of acquiring and developing land constructing homes marketing and selling those homes and providing warranty and customer services. Its homebuilding and marketing activities are conducted under the Meritage Homes brand other than in Tennessee where it operates under the Phillips Builders brand and in the Atlanta and Greenville markets where it operates under the Legendary Communities brand. It also operates as Monterey Homes in some markets.