M/I Homes Inc (NYSE:MHO) – Equities research analysts at Wedbush cut their Q4 2018 earnings per share (EPS) estimates for shares of M/I Homes in a report released on Thursday, October 25th, according to Zacks Investment Research. Wedbush analyst J. Mccanless now expects that the construction company will post earnings of $1.26 per share for the quarter, down from their previous forecast of $1.29. Wedbush currently has a “Buy” rating and a $32.00 target price on the stock. Wedbush also issued estimates for M/I Homes’ Q1 2019 earnings at $0.77 EPS, Q2 2019 earnings at $0.99 EPS, FY2019 earnings at $4.23 EPS and FY2020 earnings at $4.43 EPS.
MHO has been the subject of several other reports. ValuEngine lowered M/I Homes from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. Zacks Investment Research lowered M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 28th. Finally, JMP Securities set a $30.00 price target on M/I Homes and gave the stock a “buy” rating in a research report on Monday, October 15th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $34.33.
Shares of MHO traded up $0.78 during trading hours on Monday, hitting $23.76. The company had a trading volume of 184,371 shares, compared to its average volume of 334,767. The firm has a market cap of $641.69 million, a price-to-earnings ratio of 8.25 and a beta of 0.97. The company has a current ratio of 6.23, a quick ratio of 0.50 and a debt-to-equity ratio of 1.05. M/I Homes has a one year low of $21.30 and a one year high of $37.41.
M/I Homes (NYSE:MHO) last released its quarterly earnings results on Wednesday, October 24th. The construction company reported $1.03 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.03. The firm had revenue of $567.80 million during the quarter, compared to analyst estimates of $552.54 million. M/I Homes had a return on equity of 13.46% and a net margin of 4.17%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 EPS.
M/I Homes declared that its Board of Directors has initiated a stock buyback plan on Tuesday, August 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MHO. Legal & General Group Plc increased its position in M/I Homes by 8.7% during the 3rd quarter. Legal & General Group Plc now owns 61,239 shares of the construction company’s stock valued at $1,470,000 after buying an additional 4,925 shares in the last quarter. IndexIQ Advisors LLC increased its position in M/I Homes by 3.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 71,373 shares of the construction company’s stock valued at $1,708,000 after buying an additional 2,697 shares in the last quarter. Mutual Advisors LLC acquired a new position in M/I Homes during the 3rd quarter valued at about $747,000. MetLife Investment Advisors LLC increased its position in M/I Homes by 50.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 19,330 shares of the construction company’s stock valued at $463,000 after buying an additional 6,462 shares in the last quarter. Finally, Citadel Advisors LLC increased its position in M/I Homes by 414.2% during the 3rd quarter. Citadel Advisors LLC now owns 541,195 shares of the construction company’s stock valued at $12,951,000 after buying an additional 435,953 shares in the last quarter.
M/I Homes Company Profile
M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.
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