Meritage Homes Corp(NYSE:MTH) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $797.90M. Analysts estimated a revenue of $751.30M. Earnings per share were $0.95. Analysts had estimated an EPS of $0.80.
In a different note, On Jul 11, 2016, Credit Suisse said it Downgrades its rating on Meritage Homes Corp. The shares have been rated ‘Underperform’ by the firm. On Jul 11, 2016, Zelman said it Downgrades its rating on Meritage Homes Corp. The shares have been rated ‘Hold’ by the firm.
Meritage Homes Corp (MTH) shares turned negative on Thursdays trading session with the shares closing down -0.35 points or -0.98% at a volume of 3,98,361. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $35.775. The peak price level was also seen at $35.775 while the days lowest was $34.92. Finally the shares closed at $35.49. The 52-week high of the shares is $46.2499 while the 52-week low is $25.48. According to the latest information available, the market cap of the company is $1,420 M.
Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Peter L Ax (director) sold 15,000 shares at $36.71 per share price.Also, On Jun 10, 2016, Gerald W Haddock (director) sold 7,500 shares at $38.10 per share price.On May 18, 2016, Robert Gary Sarver (director) sold 4,381 shares at $33.92 per share price, according to the Form-4 filing with the securities and exchange commission.
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It has homebuilding operations in three regions. The West region comprises Arizona California and Colorado; Central region include Texas and the East region comprises Florida Georgia North Carolina South Carolina and Tennessee. It has nine homebuilding operating segments. The homebuilding segments are engaged in the business of acquiring and developing land constructing homes marketing and selling those homes and providing warranty and customer services. Its homebuilding and marketing activities are conducted under the Meritage Homes brand other than in Tennessee where it operates under the Phillips Builders brand and in the Atlanta and Greenville markets where it operates under the Legendary Communities brand. It also operates as Monterey Homes in some markets.