Wedbush Analysts Raise Earnings Estimates for M/I Homes, Inc. (NYSE:MHO)

M/I Homes, Inc. (NYSE:MHO) – Investment analysts at Wedbush increased their Q2 2024 earnings per share (EPS) estimates for shares of M/I Homes in a report issued on Wednesday, April 24th. Wedbush analyst J. Mccanless now expects 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 objective 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.

Separately, StockNews.com upgraded shares of M/I Homes from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 26th.

M/I Homes Stock Down 4.1 %

Shares of NYSE MHO opened at $116.22 on Monday. The stock has a 50-day moving average price of $123.22 and a two-hundred day moving average price of $117.09. M/I Homes has a 12 month low of $65.42 and a 12 month high of $140.73. The company has a current ratio of 6.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.35. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 6.69 and a beta of 2.13.

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

Institutional Investors Weigh In On M/I Homes

A number of institutional investors have recently made changes to their positions in MHO. SkyOak Wealth LLC acquired a new position in shares of M/I Homes in the first quarter worth approximately $320,000. Principal Financial Group Inc. raised its holdings in M/I Homes by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 156,137 shares of the construction company’s stock worth $21,280,000 after purchasing an additional 3,908 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of M/I Homes by 563.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,735 shares of the construction company’s stock worth $2,553,000 after purchasing an additional 15,910 shares during the period. Arlington Capital Management Inc. boosted its stake in shares of M/I Homes by 55.5% in the 1st quarter. Arlington Capital Management Inc. now owns 10,827 shares of the construction company’s stock valued at $1,476,000 after purchasing an additional 3,863 shares during the last quarter. Finally, Petra Financial Advisors Inc. increased its position in shares of M/I Homes by 3.5% during the first quarter. Petra Financial Advisors Inc. now owns 6,276 shares of the construction company’s stock worth $855,000 after buying an additional 213 shares during the period. Institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In other news, insider Susan E. Krohne sold 9,000 shares of M/I Homes stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $122.00, for a total transaction of $1,098,000.00. Following the sale, the insider now directly owns 3,609 shares of the company’s stock, valued at $440,298. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other M/I Homes news, insider Susan E. Krohne sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $122.00, for a total transaction of $1,098,000.00. Following the sale, the insider now directly owns 3,609 shares of the company’s stock, valued at approximately $440,298. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert H. Schottenstein sold 19,200 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $122.00, for a total transaction of $2,342,400.00. Following the completion of the transaction, the chief executive officer now owns 122,951 shares of the company’s stock, valued at $15,000,022. The disclosure for this sale can be found here. Insiders sold a total of 30,661 shares of company stock valued at $3,756,663 in the last 90 days. Corporate 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.