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Meritage Homes (MTH) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Meritage Homes (MTH - Free Report) closed at $123.85, marking a +1.93% move from the previous day. This change outpaced the S&P 500's 0.59% gain on the day. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Prior to today's trading, shares of the homebuilder had lost 12.33% over the past month. This has lagged the Construction sector's loss of 4.44% and the S&P 500's loss of 2.84% in that time.
Wall Street will be looking for positivity from Meritage Homes as it approaches its next earnings report date. This is expected to be October 31, 2023. In that report, analysts expect Meritage Homes to post earnings of $5.11 per share. This would mark a year-over-year decline of 28.03%. Meanwhile, our latest consensus estimate is calling for revenue of $1.55 billion, down 1.64% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.45 per share and revenue of $6.07 billion, which would represent changes of -27.26% and -3.17%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Meritage Homes. These revisions help to show the ever-changing nature of 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Meritage Homes is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Meritage Homes currently has a Forward P/E ratio of 6.25. Its industry sports an average Forward P/E of 8.07, 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 16, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow MTH in the coming trading sessions, be sure to utilize Zacks.com.
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Meritage Homes (MTH) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Meritage Homes (MTH - Free Report) closed at $123.85, marking a +1.93% move from the previous day. This change outpaced the S&P 500's 0.59% gain on the day. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Prior to today's trading, shares of the homebuilder had lost 12.33% over the past month. This has lagged the Construction sector's loss of 4.44% and the S&P 500's loss of 2.84% in that time.
Wall Street will be looking for positivity from Meritage Homes as it approaches its next earnings report date. This is expected to be October 31, 2023. In that report, analysts expect Meritage Homes to post earnings of $5.11 per share. This would mark a year-over-year decline of 28.03%. Meanwhile, our latest consensus estimate is calling for revenue of $1.55 billion, down 1.64% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.45 per share and revenue of $6.07 billion, which would represent changes of -27.26% and -3.17%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Meritage Homes. These revisions help to show the ever-changing nature of 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Meritage Homes is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Meritage Homes currently has a Forward P/E ratio of 6.25. Its industry sports an average Forward P/E of 8.07, 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 16, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow MTH in the coming trading sessions, be sure to utilize Zacks.com.