Meritage Homes Corporation Declares Quarterly Dividend of $0.48 (NYSE:MTH)

Meritage Homes Corporation (NYSE:MTH) announced a quarterly dividend on Thursday, May 21st. Stockholders of record on Tuesday, June 16th will be given a dividend of 0.48 per share by the construction company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, June 16th.

Meritage Homes has a dividend payout ratio of 21.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Meritage Homes to earn $6.35 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 30.2%.

Meritage Homes Price Performance

MTH stock opened at $63.89 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.96 and a current ratio of 1.96. Meritage Homes has a 1 year low of $58.03 and a 1 year high of $84.74. The firm has a market cap of $4.26 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 2.81 and a beta of 1.43. The stock has a 50-day simple moving average of $64.03 and a 200-day simple moving average of $68.79.

Meritage Homes (NYSE:MTH) last posted its earnings results on Wednesday, April 22nd. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.12). Meritage Homes had a net margin of 6.86% and a return on equity of 8.08%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the business posted $1.69 EPS. Meritage Homes’s quarterly revenue was down 17.5% compared to the same quarter last year. On average, equities analysts predict that Meritage Homes will post 5.01 earnings per share for the current fiscal year.

About Meritage Homes

Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single?family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high?performance features aimed at reducing long?term energy and water consumption for homebuyers.

The company’s core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.