M/I Homes Inc (NYSE:MHO) – Wedbush decreased their Q4 2018 earnings per share estimates for shares of M/I Homes in a research note issued to investors on Thursday, October 25th. Wedbush analyst J. Mccanless now expects that the construction company will earn $1.26 per share for the quarter, down from their prior estimate of $1.29. Wedbush has a “Buy” rating and a $32.00 price target on the stock. Wedbush also issued estimates for M/I Homes’ Q1 2019 earnings at $0.77 EPS, Q2 2019 earnings at $0.99 EPS, FY2019 earnings at $4.23 EPS and FY2020 earnings at $4.43 EPS.
M/I Homes (NYSE:MHO) last issued its earnings results on Wednesday, October 24th. The construction company reported $1.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.03. M/I Homes had a return on equity of 13.46% and a net margin of 4.17%. The business had revenue of $567.80 million during the quarter, compared to analyst estimates of $552.54 million. During the same period in the previous year, the company posted $0.71 EPS. M/I Homes’s revenue was up 19.2% on a year-over-year basis.
Shares of NYSE:MHO opened at $23.01 on Monday. M/I Homes has a 12-month low of $21.30 and a 12-month high of $37.41. The firm has a market capitalization of $673.99 million, a PE ratio of 7.99 and a beta of 1.07. The company has a current ratio of 5.54, a quick ratio of 0.44 and a debt-to-equity ratio of 1.05.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in M/I Homes by 5.3% during the 2nd quarter. BlackRock Inc. now owns 4,303,019 shares of the construction company’s stock worth $113,943,000 after buying an additional 216,879 shares during the last quarter. Millennium Management LLC grew its stake in M/I Homes by 8.6% during the 2nd quarter. Millennium Management LLC now owns 1,504,794 shares of the construction company’s stock worth $39,847,000 after buying an additional 119,034 shares during the last quarter. Bank of New York Mellon Corp grew its stake in M/I Homes by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 538,575 shares of the construction company’s stock worth $14,262,000 after buying an additional 3,352 shares during the last quarter. Royce & Associates LP grew its stake in M/I Homes by 20.4% during the 2nd quarter. Royce & Associates LP now owns 430,596 shares of the construction company’s stock worth $11,402,000 after buying an additional 73,000 shares during the last quarter. Finally, Northern Trust Corp grew its stake in M/I Homes by 4.6% during the 2nd quarter. Northern Trust Corp now owns 351,744 shares of the construction company’s stock worth $9,314,000 after buying an additional 15,435 shares during the last quarter. Hedge funds and other institutional investors own 93.45% of the company’s stock.
In related news, CEO Robert H. Schottenstein sold 13,143 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $26.31, for a total transaction of $345,792.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Phillip G. Creek sold 18,880 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $26.50, for a total value of $500,320.00. Following the transaction, the insider now owns 6,513 shares in the company, valued at $172,594.50. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
M/I Homes declared that its Board of Directors has authorized a stock buyback program on Tuesday, August 14th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
About M/I Homes
M/I Homes, Inc, together with its subsidiaries, operates as a builder of single-family homes in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments.
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