Why Meritage (MTH) is Poised to Beat Earnings Estimates Again

Core Insights - Meritage Homes reported earnings of $5.06 per share for the most recent quarter, exceeding the expected $3.54 per share, resulting in a surprise of 42.94% [1] - The company has consistently surpassed earnings estimates, averaging a 23.40% beat over the last two quarters [8] Earnings Performance - The previous quarter's earnings were $5.38 per share against an estimate of $5.18, leading to a surprise of 3.86% [1] - Meritage has a positive Earnings ESP of +0.64%, indicating analysts' bullish sentiment regarding its near-term earnings potential [2][7] Future Outlook - The next earnings report for Meritage is anticipated on July 24, 2024, with expectations of another potential earnings beat [2] - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) have historically produced positive surprises nearly 70% of the time [4] Industry Context - Meritage operates within the Zacks Building Products - Home Builders industry, positioning it as a strong candidate for investors looking for stocks that consistently beat earnings estimates [3]