M/I Homes (NYSE:MHO) Announces Earnings Results

M/I Homes (NYSE:MHO) released its quarterly earnings results on Wednesday. The construction company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.76 by ($1.21), FiscalAI reports. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The firm had revenue of $920.71 million for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company earned $3.98 earnings per share. The firm’s revenue was down 5.8% on a year-over-year basis.

M/I Homes Price Performance

Shares of M/I Homes stock traded up $3.03 during midday trading on Wednesday, reaching $131.91. The company had a trading volume of 38,890 shares, compared to its average volume of 246,134. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 8.97 and a beta of 1.77. The stock has a fifty day simple moving average of $131.12 and a 200 day simple moving average of $132.13. M/I Homes has a 1-year low of $102.44 and a 1-year high of $158.92.

Insider Activity at M/I Homes

In related news, CFO Phillip G. Creek sold 8,616 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the completion of the sale, the chief financial officer owned 45,815 shares of the company’s stock, valued at $6,725,642. This trade represents a 15.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Susan E. Krohne sold 491 shares of M/I Homes stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $72,078.80. Following the sale, the insider directly owned 8,771 shares of the company’s stock, valued at $1,287,582.80. This represents a 5.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 49,213 shares of company stock valued at $7,115,268 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On M/I Homes

Several institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV lifted its position in M/I Homes by 29.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,920 shares of the construction company’s stock valued at $246,000 after acquiring an additional 441 shares in the last quarter. Summit Global Investments lifted its position in M/I Homes by 162.1% in the 4th quarter. Summit Global Investments now owns 7,959 shares of the construction company’s stock valued at $1,018,000 after acquiring an additional 4,922 shares in the last quarter. Caitlin John LLC bought a new stake in M/I Homes in the 4th quarter valued at $253,000. Vident Advisory LLC bought a new stake in M/I Homes in the 4th quarter valued at $993,000. Finally, State of Tennessee Department of Treasury lifted its position in M/I Homes by 37.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 11,759 shares of the construction company’s stock valued at $1,572,000 after acquiring an additional 3,180 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on MHO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a report on Thursday, January 22nd. Zacks Research upgraded M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Citigroup restated a “market outperform” rating on shares of M/I Homes in a research note on Friday, January 30th. Seaport Research Partners restated a “neutral” rating on shares of M/I Homes in a research note on Tuesday, April 7th. Finally, Oppenheimer set a $165.00 price target on shares of M/I Homes in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

About M/I Homes

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.