Meritage Homes CorporationNYSE
Meritage Homes Corp.: Buy While It Is Cheap
Tue, Nov. 1, 9:59 AM
- Discussions about homebuilding M&A have been picking up of late, says analyst Will Randow, and he expects the next deal will likely be one public company acquiring another, rather than a smaller private player.
- "Aside from the normal benefits of M&A, we believe larger public builders may be more inclined to acquire the young (i.e. smaller public) given the slower paced recovery environment that exhibits lower pricing power," says Randow, who picks D.R. Horton (NYSE:DHI) as best-positioned to be a buyer.
- Other possible acquirers include: KB Home (NYSE:KBH), Meritage (NYSE:MTH), PulteGroup (NYSE:PHM), Toll Brothers (NYSE:TOL), and TRI Pointe (NYSE:TPH).
- Potential targets: Century Communities (NYSE:CCS), Green Brick Partners (NASDAQ:GRBK), M.D.C. Homes (NYSE:MDC), Meritage (also on the buyer list), New Home (NYSE:NWHM), Taylor Morrison (NYSE:TMHC), UCP, William Lyon (NYSE:WLH).
- Randow's top accretive scenario ... TRI Pointe buying William Lyon.
Thu, Oct. 27, 7:36 AM
Wed, Oct. 26, 5:30 PM
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Thu, Jul. 28, 7:35 AM
Wed, Jul. 27, 5:30 PM
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Tue, May 17, 9:49 AM
- The company is now providing quarterly and annual guidance for a number of metrics.
- It's seeing full-year orders of 7.35K-7.55K vs. 7.1K in 2015; Q2 orders of 1.9K-2.1K vs. 1.986 in 2015.
- Full-year closings of 7.2K-7.6K vs. 6.522K in 2015.
- Closing revenue of $2.9B-$3.1B vs. $2.5B in 2015.
- Gross margin of 18-18.5% vs.19% in 2015.
- EPS of $3.55-$3.85 vs. $3.09 in 2015.
- MTH +3.5%
Thu, Apr. 28, 8:10 AM
- Meritage Homes (NYSE:MTH): Q1 EPS of $0.50 beats by $0.06.
- Revenue of $597.8M (+15.2% Y/Y) beats by $51.24M.
Wed, Apr. 27, 5:30 PM
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Thu, Apr. 7, 10:07 AM
- Hot-handed Meritage Homes (MTH +3.3%) continues its run higher after an upgrade to Overweight from Barclays. The $42 price target is boosted from $36, and is nearly 14% above last night's close.
- After a rough 2015, Meritage is higher by 12.2% YTD.
- Now read: Time To Invest In Home Builders? (Feb. 17)
Thu, Jan. 28, 8:32 AM
- Meritage Homes (NYSE:MTH): Q4 EPS of $1.26 beats by $0.13.
- Revenue of $781.6M (+11.8% Y/Y) misses by $9.12M.
Wed, Jan. 27, 5:30 PM
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Thu, Jan. 7, 5:56 PM
- Arizona-based Meritage Homes (MTH -6.1%) has named Hilla Sferruzza its chief financial officer, effective April 1.
- She has been the company's accounting chief. She'll replace Larry Seay, who's retiring after 20 years in that post.
- Her compensation isn't available; Seay received a 2014 package valued at $2.6M, including bonus and equity awards.
Dec. 15, 2015, 9:47 AM
- KB Home (KBH +1.8%) is having a tough year - lower by 24% - but Credit Suisse sees worse things ahead, downgrading to Underperform and cutting the price target to $12 from $17. Also downgraded to Underperform is NVR (NVR -0.7%), but that stock has been a sector leader this year, up 35%.
- Catching an upgrade after a tough run is Meritage Homes (MTH +2.9%), Down just 3% YTD, MTH is lower by 18% over the last three months. The team upgrades to Neutral with $35 price target.
Oct. 29, 2015, 8:05 AM
- Meritage Homes (NYSE:MTH): Q3 EPS of $0.73 misses by $0.04.
- Revenue of $670M (+20.3% Y/Y) beats by $38.03M.
Oct. 28, 2015, 5:30 PM
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Sep. 11, 2015, 8:04 AM
- As a group, the three are higher on the year, but are considerably lower since April 1, with Meritage Homes (NYSE:MTH) off 22%, Toll Brothers (NYSE:TOL) 6%, and PulteGroup (NYSE:PHM) 7.8%.
- All three are upgraded to Neutral from Underweight.
- Alongside these moves, JPMorgan also downgraded two other homebuilders.