It would seem that for every seller
there was a buyer at the current price. I suspect that
the company is re-purchasing stock at these levels.
With a book value of $17.77 per share and a forecast
of 20% growth for this year, we are looking at a
likely book value of over $21.00 per share this fiscal
I don't see this as "selling" but more so as
accumulation. Today�s rate increase by the fed will show the
real strength of the stock and the future prospects of
the company to continue profitability in a difficult
Good luck to all the
Meritage said on Wednesday May 10 it set a goal
for 2000 to build and close approximately 1,800
homes, representing about $400 million in revenues for
2000, at a growth rate of 20 percent.
statement, the company, which builds homes in Texas,
Arizona, and northern California, said that continued
strong financial controls should enable it to continue
increasing its earnings per share by 15 to 20
Co-Chief Executive Officer John Landon said in a
statement, ``Meritage has generated 13 consecutive years of
sales growth and profitability, and a five-year
compound annual growth rate of 23 percent in earnings and
revenues...we have grown our book value nearly 200 percent in
just over three years since becoming a public company,
to $17.77 per share from $5.95 per
Meritage posted first quarter 2000 revenues last month of
$91.7 million, up 79 percent over the 1999 first
quarter, and its backlog of ordered homes under
construction was $256.7 million, up 30 percent over the
previous comparable quarter.
that's what we did - invest in a
company that doesn't pay any dividends with record
breaking sales - doesn't add up. Enjoy reading message
centers always looking for insights. Have held this thing
- remember when the stock was at $17 -
I have bought more than 800 shares
during the past months and would buy again if the stock
goes down. I have a profit and a company that is
growing earnings. That's called investing.
to hear that you have a loss but I am taking a
long-term approach to this company.
Secondly, I was
responding to a specific message in which SOMEONE ELSE
brought up the subject of an LBO.
will see a breakout above 12 which would make the
technical's look very good IMHO. Just hope the market
Interesting article on LBO
We are now up to a book value of almost $18 per
share. With a PE of 3 this company pays for itself in
LBO is a possibility as the company
remains an excellent investment, IMHO.