M/I Homes (NYSE:MHO) announced its earnings results on Thursday. The construction company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.06), Bloomberg Earnings reports. The business had revenue of $621.00 million for the quarter, compared to the consensus estimate of $589.11 million. M/I Homes had a net margin of 4.00% and a return on equity of 12.31%. The firm’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS.
Shares of M/I Homes (MHO) traded down $0.25 during mid-day trading on Thursday, hitting $32.09. The stock had a trading volume of 147,627 shares, compared to its average volume of 248,610. M/I Homes has a twelve month low of $22.55 and a twelve month high of $37.41. The company has a quick ratio of 0.87, a current ratio of 6.46 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $890.57, a P/E ratio of 12.16 and a beta of 1.31.
Hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. purchased a new position in M/I Homes in the third quarter valued at about $177,000. Magnetar Financial LLC purchased a new position in M/I Homes in the third quarter valued at about $205,000. Virtu KCG Holdings LLC purchased a new position in M/I Homes in the second quarter valued at about $214,000. Eqis Capital Management Inc. purchased a new position in M/I Homes in the third quarter valued at about $254,000. Finally, CAPROCK Group Inc. purchased a new position in M/I Homes in the fourth quarter valued at about $260,000. Institutional investors and hedge funds own 96.17% of the company’s stock.
Several brokerages have weighed in on MHO. ValuEngine raised M/I Homes from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 31st. Wedbush boosted their price objective on M/I Homes from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, December 29th. Zacks Investment Research downgraded M/I Homes from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. JMP Securities set a $38.00 price objective on M/I Homes and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, TheStreet downgraded M/I Homes from a “b-” rating to a “c+” rating in a research note on Thursday, December 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. M/I Homes presently has a consensus rating of “Buy” and an average target price of $40.00.
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About M/I Homes
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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