The latest trading session saw Meritage Homes (MTH - Free Report) ending at $161.25, denoting a +0.83% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, lost 0.54%.
Heading into today, shares of the homebuilder had gained 5.34% over the past month, lagging the Construction sector's gain of 6.64% and outpacing the S&P 500's gain of 3.18% in that time.
The investment community will be paying close attention to the earnings performance of Meritage Homes in its upcoming release. The company's earnings per share (EPS) are projected to be $3.55, reflecting a 0.28% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.28 billion, indicating a 0.2% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.72 per share and a revenue of $6.09 billion, representing changes of -11.09% and -0.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Meritage Homes. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. Currently, Meritage Homes is carrying a Zacks Rank of #4 (Sell).
From a valuation perspective, Meritage Homes is currently exchanging hands at a Forward P/E ratio of 9.03. This valuation marks a discount compared to its industry's average Forward P/E of 9.39.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The latest trading session saw Meritage Homes (MTH - Free Report) ending at $161.25, denoting a +0.83% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, lost 0.54%.
Heading into today, shares of the homebuilder had gained 5.34% over the past month, lagging the Construction sector's gain of 6.64% and outpacing the S&P 500's gain of 3.18% in that time.
The investment community will be paying close attention to the earnings performance of Meritage Homes in its upcoming release. The company's earnings per share (EPS) are projected to be $3.55, reflecting a 0.28% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.28 billion, indicating a 0.2% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.72 per share and a revenue of $6.09 billion, representing changes of -11.09% and -0.31%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Meritage Homes. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. Currently, Meritage Homes is carrying a Zacks Rank of #4 (Sell).
From a valuation perspective, Meritage Homes is currently exchanging hands at a Forward P/E ratio of 9.03. This valuation marks a discount compared to its industry's average Forward P/E of 9.39.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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