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Meritage Homes (MTH) Gains But Lags Market: What You Should Know
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Meritage Homes (MTH - Free Report) closed the most recent trading day at $145.91, moving +0.04% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.39%.
Heading into today, shares of the homebuilder had gained 11.91% over the past month, outpacing the Construction sector's gain of 9.04% and the S&P 500's gain of 3.16% in that time.
Meritage Homes will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. The company is expected to report EPS of $3.49, down 48.45% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.31 billion, down 7.15% from the year-ago period.
MTH's full-year Zacks Consensus Estimates are calling for earnings of $15.35 per share and revenue of $5.57 billion. These results would represent year-over-year changes of -42.6% and -11.22%, respectively.
Investors should also note any recent changes to analyst estimates for Meritage Homes. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.54% higher. Meritage Homes currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Meritage Homes is currently trading at a Forward P/E ratio of 9.5. Its industry sports an average Forward P/E of 10.54, so we one might conclude that Meritage Homes is trading at a discount comparatively.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MTH in the coming trading sessions, be sure to utilize Zacks.com.
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Meritage Homes (MTH) Gains But Lags Market: What You Should Know
Meritage Homes (MTH - Free Report) closed the most recent trading day at $145.91, moving +0.04% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.39%.
Heading into today, shares of the homebuilder had gained 11.91% over the past month, outpacing the Construction sector's gain of 9.04% and the S&P 500's gain of 3.16% in that time.
Meritage Homes will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. The company is expected to report EPS of $3.49, down 48.45% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.31 billion, down 7.15% from the year-ago period.
MTH's full-year Zacks Consensus Estimates are calling for earnings of $15.35 per share and revenue of $5.57 billion. These results would represent year-over-year changes of -42.6% and -11.22%, respectively.
Investors should also note any recent changes to analyst estimates for Meritage Homes. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.54% higher. Meritage Homes currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Meritage Homes is currently trading at a Forward P/E ratio of 9.5. Its industry sports an average Forward P/E of 10.54, so we one might conclude that Meritage Homes is trading at a discount comparatively.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MTH in the coming trading sessions, be sure to utilize Zacks.com.