Brokers Issue Forecasts for M/I Homes, Inc.’s Q2 2024 Earnings (NYSE:MHO)

M/I Homes, Inc. (NYSE:MHO) – Stock analysts at Wedbush increased their Q2 2024 earnings per share estimates for M/I Homes in a research report issued on Wednesday, April 24th. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings per share of $4.79 for the quarter, up from their previous forecast of $4.00. Wedbush has a “Neutral” rating and a $130.00 price target on the stock. The consensus estimate for M/I Homes’ current full-year earnings is $18.18 per share. Wedbush also issued estimates for M/I Homes’ Q3 2024 earnings at $4.26 EPS, Q4 2024 earnings at $4.36 EPS, FY2024 earnings at $18.18 EPS, Q3 2025 earnings at $4.61 EPS, Q4 2025 earnings at $4.83 EPS and FY2025 earnings at $18.22 EPS.

M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, April 24th. The construction company reported $4.78 EPS for the quarter, topping the consensus estimate of $3.96 by $0.82. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%.

Separately, StockNews.com upgraded M/I Homes from a “buy” rating to a “strong-buy” rating in a research note on Friday.

M/I Homes Stock Down 0.2 %

Shares of MHO stock opened at $120.07 on Monday. The stock has a market cap of $3.33 billion, a P/E ratio of 6.91 and a beta of 2.13. M/I Homes has a one year low of $64.28 and a one year high of $140.73. The stock has a fifty day moving average price of $123.21 and a 200 day moving average price of $116.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.51 and a quick ratio of 1.68.

Insiders Place Their Bets

In other M/I Homes news, insider Ann Marie Hunker sold 2,461 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 2,342 shares in the company, valued at $300,970.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of M/I Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in MHO. Voss Capital LLC acquired a new stake in M/I Homes in the fourth quarter worth about $3,444,000. Seven Eight Capital LP acquired a new stake in M/I Homes in the third quarter worth about $247,000. Vanguard Group Inc. increased its position in M/I Homes by 2.3% in the third quarter. Vanguard Group Inc. now owns 1,961,428 shares of the construction company’s stock worth $164,838,000 after purchasing an additional 43,417 shares during the period. Stratos Wealth Partners LTD. increased its position in M/I Homes by 143.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 26,284 shares of the construction company’s stock worth $3,620,000 after purchasing an additional 15,481 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in M/I Homes in the fourth quarter worth about $9,262,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.