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

M/I Homes (NYSE:MHO) announced its quarterly earnings data on Wednesday. The construction company reported $4.78 earnings per share (EPS) 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 Up 0.3 %

Shares of M/I Homes stock opened at $120.70 on Friday. 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 business’s 50 day simple moving average is $123.20 and its 200-day simple moving average is $115.80. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 6.92 and a beta of 2.13. M/I Homes has a twelve month low of $64.28 and a twelve month high of $140.73.

Analyst Ratings Changes

MHO has been the topic of several research reports. Wedbush restated a “neutral” rating and set a $130.00 price objective (up previously from $116.00) on shares of M/I Homes in a research note on Wednesday. StockNews.com upgraded M/I Homes from a “hold” rating to a “buy” rating in a research note on Monday, February 19th.

Insider Transactions at M/I Homes

In other news, insider Ann Marie Hunker sold 2,461 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $128.51, for a total transaction of $316,263.11. Following the sale, the insider now directly owns 2,342 shares in the company, valued at approximately $300,970.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.60% of the company’s stock.

Institutional Trading of M/I Homes

A number of institutional investors and hedge funds have recently made changes to their positions in MHO. Strs Ohio grew its holdings in M/I Homes by 200.0% in the 3rd quarter. Strs Ohio now owns 300 shares of the construction company’s stock worth $25,000 after buying an additional 200 shares in the last quarter. GAMMA Investing LLC bought a new position in M/I Homes in the 4th quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new position in M/I Homes in the 4th quarter worth approximately $29,000. USA Financial Formulas grew its holdings in M/I Homes by 578.1% in the 4th quarter. USA Financial Formulas now owns 217 shares of the construction company’s stock worth $30,000 after buying an additional 185 shares in the last quarter. Finally, Clearstead Advisors LLC grew its holdings in M/I Homes by 1,979.2% in the 3rd quarter. Clearstead Advisors LLC now owns 499 shares of the construction company’s stock worth $42,000 after buying an additional 475 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.