Meritage Corporation (NYSE:MTH) is set to announce second quarter earning results on Wednesday 22nd July 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, MTH to report 2Q20 income of $ 1.43 per share from revenue of $ 888.61 million.
For the full year, analysts anticipate top line of $ 3519.72 million, while looking forward to income of $ 6.14 per share bottom line.
Previous Quarter Performance
Meritage Corporation communicated income for the first quarter of $ 1.83 per share, from the revenue of $ 901.01 million. The quarterly earnings escalated 181.54 percent while revenues surged 27.23 percent compared with the same quarter last year.
The consensus estimates are income of $ 1.21 per share from $ 743.84 million in revenue. The bottom line results beat street analysts by $ 0.62 or 51.24 percent, at the same time, top line results outshined analysts by $ 157.17 million or 21.13 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of MTH was $ 84.97, representing a 236.65 % increase from the 52 week low of $ 25.24 and a 1.85 % decrease over the 52 week high of $ 86.57.
The company has a market capital of $ 3.19 billion and is part of the Consumer Cyclical sector and Residential Construction industry.
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Recent Analyst recommendations
On 11th June 2020, upgraded by JPMorgan Chase & Co. to Overweight from Neutral rating.
On 5th June 2020, downgraded by Evercore ISI to In-Line from Outperform rating.
On 28th May 2020, initiated by Credit Suisse Group at Outperform rating.
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.
