Meritage Homes Corporation (NYSE:MTH), the fifth-largest homebuilder in the U.S., today announced that its Board of Directors has approved the initiation of a recurring quarterly cash dividend on its common stock
Homebuilder sentiment increased in January for the first time in a year after declining for 12 straight months, triggering a rally in homebuilder stocks.
What Happened: Recent data issued by the National Association of Homebuilders (NAHB) showed its national Housing Market Index (HMI) rose moderately from a December low of 31 to a more-encouraging 35.
Homebuilder stocks have gotten crushed so far in 2022, but one Wall Street analyst said Monday now is the time for investors to buy the dip.
The Analyst: KeyBanc analyst Kenneth Zener has issued the following homebuilder stock upgrades:
Meritage Homes (NYSE:MTH) reported quarterly sales of $1.41 billion which beat the analyst consensus estimate of $1.37 billion by 3.07 percent. This is a 10.49 percent increase over sales of $1.28 billion the same