M/I Homes, Inc. (NYSE:MHO) Given Consensus Recommendation of “Strong Buy” by Brokerages

Shares of M/I Homes, Inc. (NYSE:MHO) have received an average rating of “Strong Buy” from the three analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $162.50.

MHO has been the subject of several analyst reports. Wall Street Zen cut shares of M/I Homes from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Raymond James Financial decreased their price objective on shares of M/I Homes from $168.00 to $140.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 29th. Finally, Seaport Res Ptn upgraded shares of M/I Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th.

M/I Homes Stock Performance

M/I Homes stock opened at $106.15 on Friday. The firm has a 50 day simple moving average of $107.86 and a 200-day simple moving average of $119.73. M/I Homes has a 1-year low of $100.22 and a 1-year high of $176.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 7.43 and a quick ratio of 1.79. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 5.61 and a beta of 1.65.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $3.98 earnings per share for the quarter, missing the consensus estimate of $4.16 by ($0.18). M/I Homes had a net margin of 12.11% and a return on equity of 18.62%. The firm had revenue of $976.09 million during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company earned $4.78 EPS. The business’s quarterly revenue was down 7.4% on a year-over-year basis. On average, analysts expect that M/I Homes will post 18.44 EPS for the current year.

Hedge Funds Weigh In On M/I Homes

Several large investors have recently made changes to their positions in the stock. Donald Smith & CO. Inc. lifted its holdings in shares of M/I Homes by 10.2% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,282,967 shares of the construction company’s stock worth $146,489,000 after acquiring an additional 118,778 shares during the last quarter. American Century Companies Inc. lifted its holdings in M/I Homes by 2.4% during the 4th quarter. American Century Companies Inc. now owns 850,417 shares of the construction company’s stock worth $113,063,000 after buying an additional 20,055 shares in the last quarter. Franklin Resources Inc. lifted its holdings in M/I Homes by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 687,488 shares of the construction company’s stock worth $91,402,000 after buying an additional 15,685 shares in the last quarter. Millennium Management LLC lifted its holdings in M/I Homes by 109.4% during the 1st quarter. Millennium Management LLC now owns 500,207 shares of the construction company’s stock worth $57,114,000 after buying an additional 261,381 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in M/I Homes by 8.4% during the 4th quarter. Northern Trust Corp now owns 347,000 shares of the construction company’s stock worth $46,134,000 after buying an additional 26,820 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

About M/I Homes

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.