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

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

M/I Homes Stock Performance

NYSE:MHO opened at $120.70 on Friday. M/I Homes has a 1 year low of $64.28 and a 1 year high of $140.73. The firm has a 50 day moving average of $123.20 and a 200-day moving average of $115.80. The company has a current ratio of 6.51, a quick ratio of 1.68 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $3.35 billion, a P/E ratio of 6.92 and a beta of 2.13.

Insider Activity

In related news, insider Ann Marie Hunker sold 2,461 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $128.51, for a total value of $316,263.11. Following the completion of the transaction, the insider now owns 2,342 shares in the company, valued at approximately $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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in M/I Homes by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 2,056,865 shares of the construction company’s stock worth $283,313,000 after purchasing an additional 95,437 shares during the last quarter. Westfield Capital Management Co. LP raised its position in M/I Homes by 21.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,184,431 shares of the construction company’s stock worth $163,144,000 after purchasing an additional 206,509 shares during the last quarter. Pacer Advisors Inc. raised its position in M/I Homes by 49.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,070,909 shares of the construction company’s stock worth $147,507,000 after purchasing an additional 354,182 shares during the last quarter. American Century Companies Inc. raised its position in M/I Homes by 27.0% in the 3rd quarter. American Century Companies Inc. now owns 480,872 shares of the construction company’s stock worth $40,412,000 after purchasing an additional 102,358 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in M/I Homes by 15.4% during the 3rd quarter. Invesco Ltd. now owns 427,281 shares of the construction company’s stock worth $35,909,000 after acquiring an additional 57,162 shares during the period. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MHO shares. Wedbush reiterated a “neutral” rating and issued a $130.00 target price (up previously from $116.00) on shares of M/I Homes in a research note on Wednesday. StockNews.com upgraded shares of M/I Homes from a “hold” rating to a “buy” rating in a research note on Monday, February 19th.

M/I Homes Company Profile

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.