M/I Homes Shares Up 5.1% Following Earnings Beat (MHO)
M/I Homes (NYSE:MHO) shares shot up 5.1% on Thursday following a better than expected earnings announcement, Stock Ratings Network.com reports. The stock traded as high as $23.18 and last traded at $22.77, with a volume of 218,462 shares changing hands. The stock had previously closed at $21.66.
The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.09. The company had revenue of $234.84 million for the quarter, compared to the consensus estimate of $239.48 million. During the same quarter last year, the company posted $0.11 earnings per share. M/I Homes’s revenue was up 23.1% compared to the same quarter last year.
A number of analysts have recently weighed in on MHO shares. Analysts at Zacks upgraded shares of M/I Homes from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 1st. They now have a $23.00 price target on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of M/I Homes in a research note on Tuesday, March 18th. They set a “neutral” rating on the stock. Finally, analysts at TheStreet downgraded shares of M/I Homes to a “hold” rating in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. M/I Homes has a consensus rating of “Hold” and a consensus target price of $28.00.
The stock has a 50-day moving average of $22.63 and a 200-day moving average of $22.59. The company has a market cap of $573.0 million and a price-to-earnings ratio of 4.13.
M/I Homes, Inc is a builder of single-family homes. The Company consists of two distinct operations and reporting segments: homebuilding and financial services.
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