M/I Homes (NYSE:MHO) Releases Quarterly Earnings Results, Misses Expectations By $0.55 EPS

M/I Homes (NYSE:MHO) announced its quarterly earnings results on Wednesday. The construction company reported $2.70 earnings per share for the quarter, missing the consensus estimate of $3.25 by ($0.55), Zacks reports. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $3.92 earnings per share.

M/I Homes Price Performance

M/I Homes stock opened at $123.91 on Wednesday. M/I Homes has a 52 week low of $116.78 and a 52 week high of $163.66. The business has a 50-day simple moving average of $140.63 and a 200 day simple moving average of $139.79. The company has a quick ratio of 1.69, a current ratio of 7.65 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 10.43 and a beta of 1.60.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group set a $165.00 price objective on shares of M/I Homes in a research report on Thursday, October 8th. Citigroup reaffirmed a “market outperform” rating on shares of M/I Homes in a research note on Thursday, October 8th. Zelman & Associates lowered shares of M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. New Street Research set a $172.00 target price on shares of M/I Homes in a research note on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.40.

Insiders Place Their Bets

In other M/I Homes news, CFO Phillip Creek sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total value of $2,991,200.00. Following the sale, the chief financial officer owned 30,918 shares of the company’s stock, valued at $4,624,096.08. This trade represents a 39.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.60% of the stock is owned by corporate insiders.

M/I Homes Company Profile

M/I Homes, Inc is a residential construction company that builds and sells single-family homes for a range of buyers, including first-time, move-up and luxury-home purchasers. Its operations include land acquisition and development, home design, construction, marketing and sales, with communities offered in suburban and metropolitan markets.

The company also provides services that support the homebuying process, including mortgage financing through M/I Financial and title-related services through its affiliated operations.