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

M/I Homes, Inc. (NYSE:MHO) – Analysts at Wedbush boosted their Q2 2024 earnings per share (EPS) estimates for shares of M/I Homes in a research report issued on Wednesday, April 24th. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings of $4.79 per share for the quarter, up from their previous estimate 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 M/I Homes from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 26th.

M/I Homes Stock Down 4.1 %

Shares of MHO opened at $116.22 on Monday. M/I Homes has a 52 week low of $65.42 and a 52 week high of $140.73. The company has a quick ratio of 1.86, a current ratio of 6.51 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 6.69 and a beta of 2.13. The stock’s 50-day moving average price is $123.22 and its 200-day moving average price is $117.09.

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 analysts’ consensus estimates of $3.96 by $0.82. M/I Homes had a return on equity of 20.26% and a net margin of 12.27%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion.

Hedge Funds Weigh In On M/I Homes

A number of hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of M/I Homes by 7.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,245 shares of the construction company’s stock valued at $171,000 after acquiring an additional 84 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of M/I Homes by 1.1% during the fourth quarter. SummerHaven Investment Management LLC now owns 8,198 shares of the construction company’s stock valued at $1,129,000 after acquiring an additional 88 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of M/I Homes by 28.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 500 shares of the construction company’s stock valued at $69,000 after acquiring an additional 110 shares during the last quarter. USA Financial Formulas raised its holdings in shares of M/I Homes by 578.1% during the fourth quarter. USA Financial Formulas now owns 217 shares of the construction company’s stock valued at $30,000 after acquiring an additional 185 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of M/I Homes by 200.0% during the third quarter. Strs Ohio now owns 300 shares of the construction company’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Buying and Selling

In related news, CEO Robert H. Schottenstein sold 19,200 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $122.00, for a total value 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 approximately $15,000,022. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Susan E. Krohne sold 9,000 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $122.00, for a total value of $1,098,000.00. Following the completion of the transaction, the insider now 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 accessible through the SEC website. Also, CEO Robert H. Schottenstein sold 19,200 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $122.00, for a total value of $2,342,400.00. Following the completion of the transaction, the chief executive officer now directly owns 122,951 shares of the company’s stock, valued at approximately $15,000,022. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,661 shares of company stock valued at $3,756,663. 3.70% of the stock is owned by company insiders.

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.