Seaport Res Ptn Expects Reduced Earnings for M/I Homes

M/I Homes, Inc. (NYSE:MHO) – Equities research analysts at Seaport Res Ptn lowered their FY2024 EPS estimates for shares of M/I Homes in a research report issued to clients and investors on Monday, November 11th. Seaport Res Ptn analyst K. Zener now expects that the construction company will post earnings of $19.73 per share for the year, down from their prior estimate of $20.13. The consensus estimate for M/I Homes’ current full-year earnings is $19.83 per share. Seaport Res Ptn also issued estimates for M/I Homes’ Q4 2024 earnings at $4.74 EPS.

A number of other analysts have also issued reports on the company. StockNews.com lowered M/I Homes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Wedbush raised shares of M/I Homes from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $155.00 to $185.00 in a report on Monday, November 4th. Finally, Raymond James raised their price objective on shares of M/I Homes from $200.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd.

M/I Homes Trading Down 1.6 %

NYSE:MHO opened at $153.50 on Wednesday. M/I Homes has a 1 year low of $100.00 and a 1 year high of $176.18. The stock’s fifty day moving average price is $162.94 and its two-hundred day moving average price is $144.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 6.81 and a quick ratio of 1.60. The company has a market cap of $4.26 billion, a P/E ratio of 8.43 and a beta of 2.24.

Insider Buying and Selling

In other news, CFO Phillip G. Creek sold 20,000 shares of M/I Homes stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $160.00, for a total transaction of $3,200,000.00. Following the completion of the sale, the chief financial officer now owns 18,545 shares in the company, valued at approximately $2,967,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of M/I Homes

A number of hedge funds have recently made changes to their positions in the stock. Townsquare Capital LLC grew its position in M/I Homes by 35.2% during the third quarter. Townsquare Capital LLC now owns 2,433 shares of the construction company’s stock valued at $417,000 after acquiring an additional 634 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of M/I Homes by 4.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,430 shares of the construction company’s stock valued at $3,501,000 after purchasing an additional 887 shares during the last quarter. Quantbot Technologies LP raised its position in M/I Homes by 53.8% in the 3rd quarter. Quantbot Technologies LP now owns 7,179 shares of the construction company’s stock worth $1,230,000 after purchasing an additional 2,511 shares during the period. FMR LLC lifted its stake in M/I Homes by 41.4% in the third quarter. FMR LLC now owns 96,809 shares of the construction company’s stock worth $16,589,000 after purchasing an additional 28,355 shares during the last quarter. Finally, Private Trust Co. NA purchased a new stake in M/I Homes during the third quarter valued at about $88,000. 95.14% of the stock is owned by institutional investors.

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.