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

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

M/I Homes Stock Performance

Shares of MHO opened at $123.91 on Wednesday. M/I Homes has a 1 year low of $116.78 and a 1 year high of $163.66. The company 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 debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65. The firm has a fifty day moving average of $140.63 and a 200-day moving average of $139.79.

Insider Activity at M/I Homes

In other news, CFO Phillip Creek sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares in the company, valued at approximately $4,624,096.08. This represents a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MHO shares. Zacks Research cut shares of M/I Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th. Freedom Capital raised M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th. New Street Research set a $172.00 target price on M/I Homes in a report on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group set a $165.00 price target on M/I Homes in a research report on Thursday, October 8th. Two equities research 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.40.

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.