Is Meritage Homes (MTH) Among the Best Real Estate Stocks to Buy?

Meritage Homes Corporation (NYSE:MTH) is one of the 8 Best Real Estate Stocks to Buy Beyond REITs. Based on 13 analyst ratings compiled by CNN, 62% rated the stock Hold, while 38% rated it Buy. The stock currently has an average price target of $80, a 17.44% upside from the current price of $68.12.

KB Home (KBH) Isn't A "Crybaby" But It Wants Lower Rates, Says Jim Cramer

On April 28, JPMorgan decreased its price target on Meritage Homes to $58 from $62 while maintaining a Neutral rating on the stock following the company’s first quarter earnings report. Similarly, Keefe Bruyette analyst Jade Rahmani also reduced the price target on Meritage Homes to $75 from $76 while maintaining a Market Perform rating on the stock.

On April 22, Meritage Homes reported a 55% decline in net earnings to $55 million in the first quarter of the year from $123 million in the same period last year, mainly due to lower home closing revenue and gross profit. The company also reported a 17% decline in home closing revenue to $1.1 billion, mainly due to a 13% reduction in closing volume to 2,967 homes, combined with a 5% decrease in average sales price (ASP) to $373,000.

Meritage Homes Corporation (NYSE:MTH) is an American homebuilder that offers energy-efficient and affordable entry-level and first move-up homes.

While we acknowledge the risk and potential of MTH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MTH and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 8 Best Digital Infrastructure REITS to Buy According to Anal ysts and 10 Best Cybersecurity Stocks to Buy According to Short Sellers.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1