Meritage Homes Corp (MTH) is Downgraded by Credit Suisse to Underperform

Meritage Homes Corp (MTH) was Downgraded by Credit Suisse to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Credit Suisse advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Meritage Homes Corp. Meritage Homes Corp was Downgraded by FBN Securities to ” Sector Perform” on Apr 18, 2016. Meritage Homes Corp was Downgraded by Sterne Agee CRT to ” Neutral” on Apr 13, 2016.

On the company’s financial health, Meritage Homes Corp reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.44. The company had revenue of $597.77 million for the quarter, compared to analysts expectations of $547.38 million. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Meritage Homes Corp opened for trading at $39.34 and hit $40.41 on the upside on Friday, eventually ending the session at $39.91, with a gain of 2.52% or 0.98 points. The heightened volatility saw the trading volume jump to 7,91,213 shares. Company has a market cap of $1,597 M.

In a different news, on Jun 15, 2016, Peter L Ax (director) sold 15,000 shares at $36.71 per share price. According to the SEC, on Jun 10, 2016, Gerald W Haddock (director) sold 7,500 shares at $38.10 per share price. On May 18, 2016, Robert Gary Sarver (director) sold 4,381 shares at $33.92 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.

Meritage Homes Corp

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