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Meritage Homes Corporation Message Board

  • golfcop1 golfcop1 Feb 9, 2000 12:00 AM Flag

    Look at the back log

    They have a lot of homes on back log it should move if not I think it is a dead issue been in it for many years and every thing looks as good as it can be. What next,any ideas

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    • This is what happens after you have a Stock Buyback announcement.

      http://finance.yahoo.com/q?s=MDC&d=5d

      This company is very similar to ours with the same PE.

      Marc

    • usually bring out the worst in me.

      If I somehow misread your post, I apologize.

    • your getting downright belligerent.

    • One class I didn't miss (and apparently I
      should've dragged you with me) was Economics
      101.

      Don't tell me there's no stock to buy. For the right
      price, the whole float would become
      available.

      Why are you deducting institutional holdings? Did
      they tell you they wouldn't sell at any price?

    • Too bad our stock doesn't have as much action as
      this board has had the last few days. I naturally do
      not like fallow money, but I can't remember when all
      of my stocks moved up for quarters on end. So I'm
      willing to put up with no stock-price movement as long as
      the company continues to perform. Our day will come,
      soon enough for me but perhaps not for you.

      Ox

    • You state that management can't buy back stock
      because it will increase the lack of liquidity, however,
      management just stated in the last cc that they repurchased
      shares, and a fairly sizable amount at that. One would
      have thought this would have increased the price due
      to illiquity, but alas, the repurchases haven't
      caused any movement. I'ld be happy for MTH to repurchase
      all of the shares (assuming continued share price is
      under book value) and be left as the only
      non-institutional shareholder. At that point, MTH can then start
      paying me dividends or sell the company.

      I'm not
      one for repurchasing shares for the sake of
      repurchasing. If the price jumps to above book value, which I
      consider a fair value for this stock, then start paying me
      dividends. For now, buy on the cheap.

    • must have been punctuated with a number
      of
      missed elementary classes. Especially the class
      where
      they point out that you must have stock
      to buy when
      you initiate a buy-back program.
      As it is this
      stock is quite illiquid. Note
      the total o/s is 5.4mm
      shares,of which the float is 2.8mm. Deduct institutional
      holdings of apprx. 952k shares and you have 1,848,000
      shares available for a buy-back. No one is buying this
      stock, there is only selling. Mgmt. can't buy back stock
      because it will only increase the lack of liquidity. Next
      , note how the excellent earnings record has failed
      to generate an increase in buying interest. At
      3
      times earnings an increase in eps will only lower the
      p/e.
      Now, what would it cost to fund a $.30 per
      qtr dividend? 5.4mm times $.30 = $1,620,000. (An
      advertising expense to attract new investors.)
      BTW Oxy,
      are you really willing to have your hard-earned money
      lay fallow qtr after qtr?

    • I still can't agree with you about a dividend. I
      don't think this builder is going to be a div payer of
      any consequence for a long time. But I do think that
      we'll benefit by the growth of this relatively small
      builder to a much bigger one. Today's markets just don't
      favor this kind of stock, but I'm hoping that
      tomorrow's markets will be more favorable. I've got several
      big div paying stocks, but my real winners are those
      that pay no or small dividends. I think I'll just tuck
      this one away for awhile.

      Ox

    • Psusong is right.

      Boboly, he/she is
      providing the b-school version of how to replace a dividend
      while allowing shareholders who don't need income to
      avoid the penalties of double taxation.

      Buybacks
      will (must) raise the stock price. A $1 million
      buyback is identical to a $1 million dividend. If you
      seek income, you sell as many shares as you wish to
      duplicate the dividend you want to receive. I don't seek
      income, so I continue to hold...

    • You really are a "schnorrer."

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