Williams Financial Group Reiterates a 'Buy' on Meritage Homes (MTH); Remarkably Well Positioned
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Price: $73.08 -0.73%
Rating Summary:
11 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Williams Financial Group reiterates a 'Buy' on Meritage Homes (NYSE: MTH) price target of $41.00 (from $34.00).
Analyst, David N. Williams, said, "MTH delivered solid upside to Street estimates,
turning in $282.1 million in revenue and $0.24 EPS vs. the consensus of $280.4 in revenue and $0.07 EPS."
"We continue to view MTH's industry leading energy platform and its remarkably well positioned land locations as key revenue growth drivers. The company has shown its ability to adapt to market conditions and deliver a quality product with significant value to the homebuyer. We are however somewhat concerned with the subdued growth Texas and believe this may constrain growth as other markets outside the company's current offerings begin the recovery cycle. The recent entry into the Carolinas helps abate some of these concerns in addition to the company's long land position in AZ, although we believe the company will need to continue expanding its footprint to deliver long-term growth opportunities." (FY12 EPS estimate lifted from $0.61 to $0.91 and FY13 from $1.56 to $1.90)
For an analyst ratings summary and ratings history on Meritage Homes click here. For more ratings news on Meritage Homes click here.
Shares of Meritage Homes closed at $37.78 yesterday.
Analyst, David N. Williams, said, "MTH delivered solid upside to Street estimates,
turning in $282.1 million in revenue and $0.24 EPS vs. the consensus of $280.4 in revenue and $0.07 EPS."
"We continue to view MTH's industry leading energy platform and its remarkably well positioned land locations as key revenue growth drivers. The company has shown its ability to adapt to market conditions and deliver a quality product with significant value to the homebuyer. We are however somewhat concerned with the subdued growth Texas and believe this may constrain growth as other markets outside the company's current offerings begin the recovery cycle. The recent entry into the Carolinas helps abate some of these concerns in addition to the company's long land position in AZ, although we believe the company will need to continue expanding its footprint to deliver long-term growth opportunities." (FY12 EPS estimate lifted from $0.61 to $0.91 and FY13 from $1.56 to $1.90)
For an analyst ratings summary and ratings history on Meritage Homes click here. For more ratings news on Meritage Homes click here.
Shares of Meritage Homes closed at $37.78 yesterday.
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