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Meritage Homes Corporation (MTH)

  • Thu, Mar. 12, 7:41 AM
    • Citing exposure to slowing Texas home sales, Citigroup downgrades Meritage Homes (NYSE:MTH) to Neutral from Buy.
    • Shares -1.3% premarket
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  • Tue, Jan. 20, 9:43 AM
    • Hovnanian (HOV -5%), M/I Homes (MHO -3.1%), and Taylor Morrison (TMHC -4.3%) are all cut at JMP Securities, with MHO and TMHC now Market Performs, and HOV now Underperform.
    • Credit Suisse, meanwhile, also cuts Taylor Morrison. Alongside, the team downgrades Ryland Group (RYL -3.2%), Meritage Homes (MTH -3.4%), and PulteGroup (PHM -3.3%) to Underperform, noting margin declines (see KB Home and Lennar earnings) and a slowdown in Texas thanks to oil's plunge.
    • There's one upgrade, and that's NVR (NVR), which is boosted to Neutral from Underperform at Credit Suisse.
    • ETFs: ITB, XHB
    • Previously: KB Home: "Work to be done" to meet goals; -12.6% (Jan. 13)
    • Previously: Lennar leads homebuilders lower after earnings (Jan. 15)
    | 1 Comment
  • Oct. 6, 2014, 10:31 AM
    • An outlier to the upside among the homebuilders in early action is Meritage Homes (MTH +1.5%) after analyst Adam Rudiger - noting the compelling valuation after this year's 24% decline - upgrades to Outperform with price target range of $44-$46.
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  • Jun. 30, 2014, 10:34 AM
    • Citing the recent underperformance of the stock and improving new home sales in Phoenix, Citigroup upgrades Scottsdale-based Meritage homes (MTH +1.6%) to a Buy.
    • The stock is higher on the session, but maybe not because of the upgrade as the whole sector is ahead following a big jump in pending home sales.
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  • Jan. 10, 2014, 9:28 AM
    • Meritage Homes (MTH) is off 1.5% premarket to $46.60 after pricing a 2.2M secondary offering at $45.75 per share for net proceeds of about $95.9M. The underwriters retain a greenshoe option of 330K more shares.
    • Press release
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  • Jul. 22, 2013, 2:58 PM
    Homebuilders (ITB -1.4%) tumble across the board after existing June home sales slipped a seasonally adjusted 1.2%. Rising mortgage rates were supposed to boost short-term demand as potential buyers aimed to lock in mortgages before rates went even higher, but the June report showed no sign of it. KBH -2.6%, RYL -2.5%, MTH -2.5%, DHI -2.2%, MDC -2.2%, HOV -2%, LEN -2%, PHM -1.6%, TOL -1.4%.
  • Apr. 25, 2013, 3:24 PM
    The Homebuilder ETF (XHB +1.2%) gains after PulteGroup (PHM +5.5%) reported Q1 closings up 23%, with the average selling price up 10%. Meritage Homes (MTH +1.1%) yesterday reported a 17% increase in prices, while Ryland Group (RYL +6.7%) last night said its average price rose 8.2%. "Housing demand is greater than the supply of homes available for sale in many of the areas where we operate," says Meritage CEO Steven Hilton.
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  • Apr. 24, 2013, 12:19 PM
    Meritage Homes (MTH +5.2%) moves higher today on a solid Q1 earnings beat this morning. The number of closed homes for the quarter jumped 17% as closing surged 39% and orders jumped 35%. What's really driving the stock right now is its forecast for FY13. The homebuilder's EPS forecast, based on a 40% increase in closings revenue the rest of the year, puts the midpoint of its profit estimate more than 15% above consensus views - which were already double that from 2012. It now expects to earn between $2.20 - 2.45, versus Street estimates of $2.04.
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  • Apr. 22, 2013, 12:11 PM
    Homebuilders slip today on weaker than anticipated earnings out of NVR and a miss on Existing Home Sales numbers for March: [(XHB -0.6%, [HOV]] -1.6%, MTH -0.6%, RYL -1.3%, TOL -1.4%, TPH -0.4%, DHI -0.2%, KBH -0.2%, LEN -1.2%, SPF -1%. Home improvement superstore operators also feel the pinch: (HD -0.4% and (LOW -1.2%.
  • Oct. 17, 2012, 2:59 PM
    Everything to do with homebuilding moves up today on September's housing data surge: Hovanian (HOV +9.5%), KB Home (KBH +8.3%), Toll Bros. (TOL +2.5%), Ryland (RYL +4.4%), Standard Pacific (SPF +3.8%) and Meritage Homes (MTH +3.4%) all trade higher, as well as makers of fixtures like faucets and cabinets: Masco (MAS +1.4%), Fortune Brands Home & Security (FBHS +3%) and American Woodmark (AMWD +3%).
    | 1 Comment
  • Feb. 22, 2012, 3:41 PM
    Among homebuilder shares, Toll Brothers' (TOL -4.9%) unexpected FQ1 loss outweighs January's rise in U.S. existing home sales: BZH -5.5%, KBH -4.5%, MHO -5.9%, MTH -5.5%, RYL -4.4%. Shares slide despite optimistic remarks from TOL CEO Doug Yearley that "in general the market feels healthier than it did one year ago."
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  • Jan. 31, 2012, 1:36 PM
    Meritage Homes (MTH -11%) tanks on heavy volume after its Q4 misses across the board, despite posting stronger home closings and an increase in orders. Losses widened sharply on write-downs, related mostly to the winding down of its Las Vegas operations.
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  • Jan. 19, 2012, 11:09 AM
    What was that about a housing recovery? Homebuilder stocks fall as housing starts fell 4.1% last month, after yesterday's report that sentiment among builders had risen to its highest level since 2007. Ratings of several homebuilders - including DHI -1.7%, LEN -0.9% and TOL -2.1% - were cut to Neutral from Buy, while KBH -1.1% and MTH -3.3% were slashed to Sell by UBS.
    | 1 Comment
  • Nov. 30, 2011, 11:35 AM
    Homebuilders are rallying hard following the release of strong pending home sales data. DRH +6.1%. KBH +8.8%. MHO +14.4%. LEN +6.8%. TOL +5%. HOV +9.5%. MTH +7.2%. RYL +6%.
    | 1 Comment
  • Sep. 9, 2011, 2:46 PM
    Homebuilders are getting clobbered again today: PulteGroup (PHM -4.2%), D.R. Horton (DHI -3.4%), KB Home (KBH -6.6%), Lennar (LEN -4.2%), Meritage Homes (MTH -6%), Toll Brothers (TOL -3.1%), Ryland (RYL -6.3%).
    | 1 Comment
  • Jul. 14, 2011, 8:24 AM
    Meritage Homes (MTH -1.5%) cut to Neutral from Buy at Goldman, though price target is lowered only slightly to $24 from $25. Goldman believes the first-time market for homes is not well-positioned for recovery. (see also: TOL upgrade)
    | 1 Comment
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Company Description
Meritage Homes Corp is a designer and builder of single-family attached and detached homes in the historically high-growth regions of the southern and western United States.