M/I Homes (NYSE:MHO) Shares Gap Up After Strong Earnings

M/I Homes, Inc. (NYSE:MHO)’s share price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $119.47, but opened at $126.90. M/I Homes shares last traded at $123.68, with a volume of 95,748 shares trading hands.

The construction company reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.82. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. M/I Homes had a net margin of 11.54% and a return on equity of 19.75%.

Wall Street Analyst Weigh In

MHO has been the subject of several recent analyst reports. StockNews.com raised shares of M/I Homes from a “hold” rating to a “buy” rating in a research report on Monday, February 19th. Wedbush reissued a “neutral” rating and issued a $130.00 price target (up from $116.00) on shares of M/I Homes in a research report on Wednesday.

Insider Activity at M/I Homes

In related news, insider Ann Marie Hunker sold 2,461 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $128.51, for a total value of $316,263.11. Following the completion of the sale, the insider now directly owns 2,342 shares of the company’s stock, valued at $300,970.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On M/I Homes

A number of institutional investors and hedge funds have recently bought and sold shares of MHO. Strs Ohio raised its holdings in shares of M/I Homes by 200.0% in the third quarter. Strs Ohio now owns 300 shares of the construction company’s stock valued at $25,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of M/I Homes in the fourth quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of M/I Homes in the fourth quarter valued at about $29,000. USA Financial Formulas raised its holdings in shares of M/I Homes by 578.1% in the fourth quarter. USA Financial Formulas now owns 217 shares of the construction company’s stock valued at $30,000 after buying an additional 185 shares during the last quarter. Finally, Clearstead Advisors LLC raised its holdings in shares of M/I Homes by 1,979.2% in the third quarter. Clearstead Advisors LLC now owns 499 shares of the construction company’s stock valued at $42,000 after buying an additional 475 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

M/I Homes Stock Down 1.7 %

The business’s fifty day moving average price is $123.20 and its 200 day moving average price is $115.80. The company has a quick ratio of 1.68, a current ratio of 6.84 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3.34 billion, a PE ratio of 7.41 and a beta of 2.13.

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.