M/I Homes FY2024 EPS Forecast Lowered by Seaport Res Ptn

M/I Homes, Inc. (NYSE:MHO) – Analysts at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for shares of M/I Homes in a research note issued to investors on Monday, November 11th. Seaport Res Ptn analyst K. Zener now expects that the construction company will post earnings per share of $19.73 for the year, down from their prior forecast of $20.13. The consensus estimate for M/I Homes’ current full-year earnings is $19.83 per share. Seaport Res Ptn also issued estimates for M/I Homes’ Q4 2024 earnings at $4.74 EPS.

Several other brokerages also recently weighed in on MHO. Wedbush raised shares of M/I Homes from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $155.00 to $185.00 in a research note on Monday, November 4th. Raymond James upped their price objective on M/I Homes from $200.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com cut M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st.

M/I Homes Stock Up 0.8 %

Shares of MHO opened at $154.87 on Wednesday. The company’s 50-day simple moving average is $162.90 and its 200-day simple moving average is $145.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 6.81. M/I Homes has a 1 year low of $101.45 and a 1 year high of $176.18. The stock has a market capitalization of $4.30 billion, a PE ratio of 8.37 and a beta of 2.24.

Institutional Trading of M/I Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC boosted its position in shares of M/I Homes by 42.8% during the 2nd quarter. Signaturefd LLC now owns 237 shares of the construction company’s stock worth $29,000 after acquiring an additional 71 shares in the last quarter. Bay Rivers Group lifted its stake in M/I Homes by 1.7% during the second quarter. Bay Rivers Group now owns 4,458 shares of the construction company’s stock worth $544,000 after purchasing an additional 75 shares during the last quarter. Xponance Inc. boosted its holdings in M/I Homes by 4.9% in the second quarter. Xponance Inc. now owns 1,718 shares of the construction company’s stock valued at $210,000 after purchasing an additional 80 shares in the last quarter. Truist Financial Corp increased its stake in M/I Homes by 1.4% in the second quarter. Truist Financial Corp now owns 6,219 shares of the construction company’s stock valued at $760,000 after purchasing an additional 87 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its holdings in M/I Homes by 4.9% during the third quarter. Arkadios Wealth Advisors now owns 2,136 shares of the construction company’s stock worth $366,000 after purchasing an additional 99 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $160.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 18,545 shares of the company’s stock, valued at approximately $2,967,200. The trade was a 51.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

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.