Brokers Issue Forecasts for M/I Homes, Inc.’s Q2 2024 Earnings (NYSE:MHO)

M/I Homes, Inc. (NYSE:MHO) – Wedbush boosted their Q2 2024 earnings per share estimates for M/I Homes in a research note issued on Wednesday, April 24th. Wedbush analyst J. Mccanless now expects that the construction company will post earnings of $4.79 per share for the quarter, up from their prior forecast of $4.00. Wedbush currently has a “Neutral” rating and a $130.00 price target on the stock. The consensus estimate for M/I Homes’ current full-year earnings is $18.18 per share. Wedbush also issued estimates for M/I Homes’ Q3 2024 earnings at $4.26 EPS, Q4 2024 earnings at $4.36 EPS, FY2024 earnings at $18.18 EPS, Q3 2025 earnings at $4.61 EPS, Q4 2025 earnings at $4.83 EPS and FY2025 earnings at $18.22 EPS.

Separately, StockNews.com upgraded M/I Homes from a “buy” rating to a “strong-buy” rating in a research report on Friday.

M/I Homes Stock Down 0.2 %

Shares of MHO opened at $120.07 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.68 and a current ratio of 6.51. M/I Homes has a one year low of $64.28 and a one year high of $140.73. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 6.91 and a beta of 2.13. The stock has a 50 day moving average price of $123.21 and a 200 day moving average price of $116.54.

M/I Homes (NYSE:MHO) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $4.78 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 20.26% and a net margin of 12.27%.

Institutional Investors Weigh In On M/I Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. acquired a new position in M/I Homes during the third quarter worth approximately $908,000. GW Henssler & Associates Ltd. purchased a new stake in shares of M/I Homes in the third quarter valued at approximately $216,000. Summit Financial Strategies Inc. purchased a new stake in shares of M/I Homes in the third quarter valued at approximately $304,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in M/I Homes by 25.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,577 shares of the construction company’s stock worth $637,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Strs Ohio boosted its position in M/I Homes by 200.0% during the third quarter. Strs Ohio now owns 300 shares of the construction company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity

In related news, insider Ann Marie Hunker sold 2,461 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $128.51, for a total transaction of $316,263.11. Following the completion of the transaction, the insider now directly owns 2,342 shares in the company, valued at approximately $300,970.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.60% 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.