Meritage Corporation (NYSE:MTH) is reporting third quarter earnings results on Wednesday 21st October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 2.41 per share from $ 1108.13 million in revenue.
For the full year, analysts predict revenues of $ 4365.03 million, while looking forward to income of $ 9.62 per share.
The Company Outlook
Earnings for 3Q20 are anticipated in a range of $ 2.15 ~ $ 2.35 per share
Full Year 2020 bottomline are predicted in a range of $ 8.75 ~ $ 9.25 per share
Click Here For More Historical Outlooks Of Meritage Corporation
Previous Quarter Performance
Meritage Corporation unfold income for the second quarter of $ 2.38 per share, from the revenue of $ 1,033.00 million. The quarterly earnings elevated 81.68 percent compared with the same quarter last year. Street analysts expected Meritage Corporation to report income of $ 1.43 per share on revenue of $ 888.61 million for the second quarter. The bottom line results beat street analysts by $ 0.95 or 66.43 percent, at the same time, top line results outshined analysts by $ 144.39 million or 16.25 percent.
Stock Performance
Shares of Meritage Corporation traded low $ -1.63 or -1.48 percent on Tuesday, reaching $ 108.40 with volume of 323.90 thousand shares. Meritage Corporation has traded high as $ 111.48 and has cracked $ 108.11 on the downward trend
The closing price of $ 108.40, representing a 335.94 % increase from the 52 week low of $ 25.24 and a 6.01 % decrease over the 52 week high of $ 117.06.
The company has a market capital of $ 4.08 billion and is part of the Consumer Cyclical sector and Residential Construction industry.
Recent Analyst recommendations
- On 8th October 2020, downgraded by JPMorgan Chase & Co. to Neutral from Overweight rating.
- On 22nd September 2020, maintained by Bank of America at Buy rating, with $ 138.00 target price.
- On 21st September 2020, upgraded by Wells Fargo & Co to Overweight from Equal-Weight rating.
Conference Call
Meritage Corporation will be hosting a conference call at 8:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.meritagehomes.com
Meritage Homes Corporation designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for first-time and first move-up buyers.
