Meritage Homes Corporation (NYSE:MTH) is scheduled to report Q3 earnings results after markets close for trading on October 21, 2020.
The company is expected to report earnings of $2.41/share on revenue of $1.1 billion. The consensus earnings per share (EPS) of $2.41/share is based on a poll of 8 analysts and represents a growth in eps of 34.7% over the same quarter last year, when the company reported earnings of $1.79/share.
The revenue forecast of $1.1 billion based on a poll of 5 analysts implies a year-over-year (YoY) growth in revenue of 16.9%. Last year the company reported $940.9 million in revenue for the quarter.
|Metric||Expected||Prior Year||YoY Change|
Earnings Call Trends
Historically, management has exceeded analyst expectations 7 out of the last 8 tracked quarters, and missed expectations 1 quarters.
What are your expectations from Meritage Homes Corporation for earnings this quarter? Let us know in the comments!
In the following table, we summarize the company’s stock price movements after earnings releases. The “Price Day Prior” column shows the closing stock price on the day before the earnings report, and the “Price Next Day” column shows the stock price at the end of the trading day after the earnings report. After the last earnings report for the period ending June 30, 2020, the stock price reacted by increasing 5.3%.
|Report Date||Price Day Prior||Price Next Day||Change %||Result|
|July 22, 2020||$84.97||$89.50||5.3%||Increase|
|April 28, 2020||$44.68||$53.56||19.9%||Increase|
|January 29, 2020||$70.91||$73.36||3.5%||Increase|
|October 22, 2019||$74.80||$74.38||−0.6%||Decline|
Fundamentals And Technical Analysis
Meritage Homes Corporation is currently trading at $112.57/share, up 0.9% for the day. The company is trading at approximately 96.4% of its 52-week high of $117.06/share. The company’s stock price is up 25.8% since the last earnings report and down −2.1% over the previous week. The company’s 14 Day Relative Price Index (RSI) of 60.00 suggests the company is trading in technically neutral territory. The RSI is considered overbought when above 70 and oversold when below 30.
The current share price implies a price-to-earnings (P/E) multiple of 12.58 and a forward P/E multiple of 11.82.
Meritage Homes Corporation’s current share price also implies a price-to-book (P/B) multiple of 2.02. The following table summarizes some other key fundamental ratios:
|Last Reported Fiscal Period Key||FY2020.Q2|
|Period End Date||June 30, 2020|
|Stock Price (Current)||$112.57|
|P/E Ratio (Fwd)||11.8x|
|Total Debt / Total Capital||19.6%|
|Levered Free Cash Flow||$448.3 million|
|EV / EBITDA||10.8x|
Meritage Homes Corporation is a mid-cap stock with a market capitalization of $4.197 billion and a total enterprise value of $4.761 billion. The company operates in the Consumer Discretionary sector and the Household Durables industry.
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. The company also offers luxury homes under the Monterey Homes brand name; and title insurance and closing/settlement services to its homebuyers. It builds and sells homes in Texas, Arizona, California, Colorado, Florida, North Carolina, South Carolina, Georgia, and Tennessee under the Meritage Homes brand name. Meritage Homes Corporation was founded in 1985 and is based in Scottsdale, Arizona.