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

M/I Homes (NYSE:MHO) released its quarterly earnings results on Wednesday. The construction company reported $4.78 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.82, reports. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion.

M/I Homes Stock Performance

Shares of MHO stock traded down $0.22 during mid-day trading on Friday, reaching $120.07. 334,257 shares of the company’s stock traded hands, compared to its average volume of 278,792. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.68 and a current ratio of 6.51. The firm has a market capitalization of $3.33 billion, a PE ratio of 6.91 and a beta of 2.13. M/I Homes has a 12 month low of $64.28 and a 12 month high of $140.73. The firm has a 50 day moving average price of $123.21 and a two-hundred day moving average price of $116.08.

Analysts Set New Price Targets

MHO has been the topic of a number of recent research reports. StockNews.com raised M/I Homes from a “buy” rating to a “strong-buy” rating in a report on Friday. Wedbush reiterated a “neutral” rating and issued a $130.00 price objective (up previously from $116.00) on shares of M/I Homes in a research note on Wednesday.

Insider Buying and Selling

In other M/I Homes news, insider Ann Marie Hunker sold 2,461 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $128.51, for a total transaction of $316,263.11. Following the completion of the sale, the insider now owns 2,342 shares of the company’s stock, valued at $300,970.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On M/I Homes

Hedge funds have recently modified their holdings of the company. Avior Wealth Management LLC lifted its stake in shares of M/I Homes by 10,597.4% during the 3rd quarter. Avior Wealth Management LLC now owns 4,065 shares of the construction company’s stock valued at $342,000 after buying an additional 4,027 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of M/I Homes by 112.9% in the third quarter. Exchange Traded Concepts LLC now owns 12,188 shares of the construction company’s stock valued at $1,024,000 after acquiring an additional 6,463 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of M/I Homes in the third quarter worth about $908,000. GW Henssler & Associates Ltd. purchased a new stake in shares of M/I Homes during the third quarter worth about $216,000. Finally, Summit Financial Strategies Inc. bought a new stake in M/I Homes during the 3rd quarter valued at approximately $304,000. 95.14% of the stock is currently owned by institutional investors.

About M/I Homes

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.