Meritage Homes rises on narrower Q2 loss
Homebuilder Meritage Homes Corporation (NYSE:MTH) is up 18% today after posting a narrower-than-expected loss after Monday’s close. For the quarter ended June 30, the Scottsdale, Ariz.-based company’s net loss was $23.4 million, or $0.79 per share, compared with a net loss of $56.6 million, or $2.16 per share, for the same quarter a year ago. Revenue dropped to $373.9 million from $567.7 million in the prior year.
Shares are at $17.84 at 2:51 p.m. ET, up $2.72 from Monday’s close. During the past year, the stock has ranged from $7.04 to $24.49. Trading volume today has soared to more than 1 million shares.
For detailed price information and recent news stories about Meritage Homes Corporation, click MTH.
