M/I Homes, Inc. (NYSE:MHO) – Wedbush cut their Q3 2017 EPS estimates for M/I Homes in a research report issued on Thursday. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings of $0.77 per share for the quarter, down from their prior estimate of $0.79. Wedbush has a “Buy” rating and a $32.00 price target on the stock. Wedbush also issued estimates for M/I Homes’ Q4 2017 earnings at $1.00 EPS, FY2017 earnings at $3.07 EPS, Q1 2018 earnings at $0.59 EPS, Q2 2018 earnings at $0.77 EPS, Q3 2018 earnings at $0.86 EPS, Q4 2018 earnings at $1.14 EPS and FY2018 earnings at $3.35 EPS.
M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.05. The firm had revenue of $456.87 million during the quarter, compared to analysts’ expectations of $456.56 million. M/I Homes had a net margin of 3.57% and a return on equity of 11.87%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share.
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MHO has been the subject of several other research reports. Zacks Investment Research upgraded shares of M/I Homes from a “sell” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, April 6th. BidaskClub lowered shares of M/I Homes from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, ValuEngine lowered shares of M/I Homes from a “strong-buy” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. M/I Homes currently has a consensus rating of “Hold” and an average price target of $31.50.
M/I Homes (NYSE:MHO) opened at 25.95 on Friday. M/I Homes has a one year low of $20.40 and a one year high of $29.42. The firm has a market cap of $643.40 million, a PE ratio of 12.43 and a beta of 1.11. The company’s 50-day moving average is $27.68 and its 200-day moving average is $26.09.
In other news, VP J Thomas Mason sold 27,594 shares of M/I Homes stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $28.42, for a total value of $784,221.48. Following the completion of the sale, the vice president now owns 19,594 shares in the company, valued at approximately $556,861.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Phillip G. Creek sold 20,808 shares of M/I Homes stock in a transaction on Monday, May 1st. The shares were sold at an average price of $27.38, for a total transaction of $569,723.04. Following the completion of the sale, the insider now owns 60,971 shares of the company’s stock, valued at approximately $1,669,385.98. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Foundry Partners LLC raised its stake in M/I Homes by 193.1% in the first quarter. Foundry Partners LLC now owns 272,125 shares of the construction company’s stock valued at $6,667,000 after buying an additional 179,295 shares in the last quarter. AQR Capital Management LLC bought a new stake in M/I Homes during the fourth quarter valued at $648,000. Airain ltd bought a new stake in M/I Homes during the first quarter valued at $214,000. Brookfield Asset Management Inc. bought a new stake in M/I Homes during the first quarter valued at $3,979,000. Finally, State Street Corp raised its stake in M/I Homes by 8.4% in the fourth quarter. State Street Corp now owns 714,688 shares of the construction company’s stock valued at $18,000,000 after buying an additional 55,344 shares in the last quarter.
About M/I Homes
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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