M/I Homes, Inc. (NYSE:MHO) Receives Consensus Rating of “Buy” from Brokerages

M/I Homes, Inc. (NYSE:MHO) has been assigned a consensus recommendation of “Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $162.50.

MHO has been the subject of a number of recent research reports. Zelman & Associates upgraded M/I Homes from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 12th. Zacks Research upgraded M/I Homes to a “strong sell” rating in a research report on Tuesday, August 12th.

M/I Homes Trading Down 1.6%

Shares of MHO stock opened at $154.42 on Friday. M/I Homes has a fifty-two week low of $100.22 and a fifty-two week high of $176.18. The stock has a market cap of $4.14 billion, a P/E ratio of 8.48 and a beta of 1.66. The business has a fifty day simple moving average of $133.82 and a 200-day simple moving average of $118.90. The company has a quick ratio of 1.78, a current ratio of 7.21 and a debt-to-equity ratio of 0.32.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $4.42 earnings per share for the quarter, missing analysts’ consensus estimates of $4.43 by ($0.01). M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.12 billion. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts forecast that M/I Homes will post 18.44 earnings per share for the current fiscal year.

Institutional Trading of M/I Homes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. increased its position in M/I Homes by 9.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock worth $157,909,000 after purchasing an additional 125,423 shares in the last quarter. American Century Companies Inc. increased its position in M/I Homes by 10.7% during the 2nd quarter. American Century Companies Inc. now owns 844,865 shares of the construction company’s stock worth $94,726,000 after purchasing an additional 81,838 shares in the last quarter. Franklin Resources Inc. increased its position in M/I Homes by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 572,975 shares of the construction company’s stock worth $64,242,000 after purchasing an additional 2,021 shares in the last quarter. Millennium Management LLC increased its position 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 purchasing an additional 261,381 shares in the last quarter. Finally, Northern Trust Corp increased its position 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 purchasing an additional 26,820 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.