MTH - Meritage Homes stock falls after 2021 EPS guidance disappoints

Meritage Homes (MTH) slumps 5.4% in after-hours trading after its guidance for 2021 EPS of $10.50-$11.50 trails the average analyst estimate of $12.79.Projects full-year home closing revenue of $4.2B-$4.6B and home closing gross margin of 22.0%-23.0% vs. 22.0% reported for 2020.Also expects 11,500-12,500 home closing for 2021 vs. 11,834 reported for 2020.In Q4 2020, average sales price for closings was $376K, down 4% Y/Y.Q4 EPS of $3.97 beats the consensus estimate of $3.36 and increased from $2.65 a year ago.Total orders for Q4 of 3,744 rose 52% Y/Y; value of $1.41B increased from $1.10B.Conference call on Jan. 28 at 9:30 AM ET.Previously (Jan. 27): Meritage Homes EPS beats by $0.64, beats on revenue

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Meritage Homes stock falls after 2021 EPS guidance disappoints