Why Meritage Homes (MTH) Could Be Positioned for a Surge?
Meritage Homes Corporation MTH is a designer and builder of single-family homes that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MTH’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Meritage Homes could be a solid choice for investors.
Current Quarter Estimates for MTH
In the past 30 days, two estimates have gone higher for Meritage Homes while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.30 a share 30 days ago, to $1.52 today, a move of 16.9%.
Current Year Estimates for MTH
Meanwhile, Meritage Homes’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $5.55 per share 30 days ago to $6.62 per share today, an increase of 19.3%.
Meritage Homes Corporation Price and Consensus
The stock has also started to move higher lately, adding 18.33% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.