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

Shares of M/I Homes, Inc. (NYSE:MHO) have received a consensus rating of “Buy” from the seven research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $160.00.

A number of research analysts have weighed in on the stock. Citizens Jmp began coverage on shares of M/I Homes in a research note on Wednesday. They issued a “market outperform” rating and a $165.00 target price on the stock. Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. Citigroup initiated coverage on M/I Homes in a research report on Wednesday. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research report on Wednesday, October 8th. Finally, Raymond James Financial increased their price target on M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 24th.

Institutional Trading of M/I Homes

Several hedge funds and other institutional investors have recently modified their holdings of the business. Salomon & Ludwin LLC purchased a new stake in shares of M/I Homes during the 3rd quarter valued at approximately $28,000. Jones Financial Companies Lllp raised its holdings in M/I Homes by 73.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock valued at $30,000 after acquiring an additional 87 shares during the period. EverSource Wealth Advisors LLC raised its holdings in M/I Homes by 90.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after acquiring an additional 135 shares during the period. Private Trust Co. NA purchased a new stake in shares of M/I Homes during the third quarter worth $38,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of M/I Homes by 58.6% in the second quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock worth $52,000 after acquiring an additional 170 shares during the period. Institutional investors own 95.14% of the company’s stock.

M/I Homes Trading Up 4.1%

NYSE MHO opened at $131.86 on Friday. The business’s fifty day moving average is $130.43 and its 200-day moving average is $132.59. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.15 and a quick ratio of 1.59. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 7.74 and a beta of 1.75. M/I Homes has a one year low of $100.22 and a one year high of $158.92.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, October 22nd. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.37 by ($0.45). M/I Homes had a net margin of 10.56% and a return on equity of 15.72%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that M/I Homes will post 18.44 EPS for the current year.

M/I Homes announced that its board has approved a stock buyback plan on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

About M/I Homes

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.