M/I Homes (NYSE:MHO) Posts Earnings Results, Misses Expectations By $0.55 EPS

M/I Homes (NYSE:MHO) issued its quarterly earnings data on Wednesday. The construction company reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.55), Zacks reports. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.11 billion. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%. During the same quarter in the prior year, the firm posted $3.92 earnings per share.

M/I Homes Stock Up 1.6%

M/I Homes stock opened at $123.91 on Wednesday. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 8.88 and a beta of 1.60. The company has a current ratio of 7.65, a quick ratio of 1.69 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $140.63 and its two-hundred day moving average price is $139.79. M/I Homes has a 52 week low of $116.78 and a 52 week high of $163.66.

Wall Street Analyst Weigh In

MHO has been the topic of several analyst reports. Freedom Capital upgraded M/I Homes to a “strong-buy” rating in a research report on Wednesday, June 24th. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Jefferies Financial Group set a $165.00 target price on M/I Homes in a research note on Thursday, October 8th. Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a research report on Thursday, October 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.40.

Insider Activity at M/I Homes

In other news, CFO Phillip Creek sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total value of $1,512,800.00. Following the completion of the sale, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at approximately $4,677,275.04. This represents a 24.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.60% of the company’s stock.

M/I Homes Company Profile

M/I Homes, Inc is a residential construction company that builds and sells single-family homes for a range of buyers, including first-time, move-up and luxury-home purchasers. Its operations include land acquisition and development, home design, construction, marketing and sales, with communities offered in suburban and metropolitan markets.

The company also provides services that support the homebuying process, including mortgage financing through M/I Financial and title-related services through its affiliated operations.