M/I Homes (NYSE:MHO) Hits New 1-Year Low – What’s Next?

M/I Homes, Inc. (NYSE:MHO)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $106.57 and last traded at $106.94, with a volume of 63678 shares trading hands. The stock had previously closed at $115.72.

Wall Street Analysts Forecast Growth

MHO has been the topic of several research analyst reports. StockNews.com upgraded shares of M/I Homes from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Raymond James reiterated a “strong-buy” rating and set a $168.00 price target (down from $210.00) on shares of M/I Homes in a research note on Thursday, January 30th. Finally, Seaport Res Ptn raised shares of M/I Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th.

M/I Homes Stock Performance

The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 5.78 and a beta of 2.31. The firm has a 50 day moving average price of $118.94 and a 200-day moving average price of $141.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 7.65 and a quick ratio of 1.93.

M/I Homes (NYSE:MHO) last announced its quarterly earnings data on Wednesday, January 29th. The construction company reported $4.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.96 by ($0.25). M/I Homes had a net margin of 12.51% and a return on equity of 20.20%. As a group, sell-side analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On M/I Homes

Large investors have recently modified their holdings of the company. Principal Securities Inc. acquired a new position in shares of M/I Homes during the fourth quarter worth $27,000. R Squared Ltd purchased a new position in shares of M/I Homes in the 4th quarter valued at about $33,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of M/I Homes during the 4th quarter worth about $50,000. Steward Partners Investment Advisory LLC purchased a new stake in M/I Homes during the fourth quarter worth approximately $70,000. Finally, Jones Financial Companies Lllp acquired a new position in M/I Homes in the fourth quarter valued at approximately $80,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.