M/I Homes, Inc. (MHO) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research cut shares of M/I Homes, Inc. (NYSE:MHO) from a buy rating to a hold rating in a research report sent to investors on Saturday.
According to Zacks, “M/I Homes, Inc. is one of the nation’s leading builders of single-family homes. Their homes are marketed and sold under the trade names M/I Homes and Showcase Homes. They have homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Tampa, Orlando and Palm Beach County, Florida; Charlotte and Raleigh, North Carolina; Virginia and Maryland. “
A number of other research firms have also weighed in on MHO. BidaskClub lowered shares of M/I Homes from a buy rating to a hold rating in a research note on Saturday, July 8th. ValuEngine upgraded shares of M/I Homes from a buy rating to a strong-buy rating in a research note on Friday, June 2nd. Finally, JMP Securities upgraded shares of M/I Homes from a market perform rating to an outperform rating and set a $32.00 price objective on the stock in a research note on Monday, July 31st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $30.33.
Shares of M/I Homes (MHO) opened at 25.30 on Friday. The company has a 50-day moving average of $25.10 and a 200 day moving average of $26.31. M/I Homes has a one year low of $20.40 and a one year high of $29.42. The stock has a market cap of $635.13 million, a PE ratio of 11.97 and a beta of 1.07.
M/I Homes (NYSE:MHO) last released its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.05. The firm had revenue of $456.87 million for the quarter, compared to analyst estimates of $456.56 million. M/I Homes had a net margin of 3.57% and a return on equity of 12.99%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. On average, analysts predict that M/I Homes will post $2.97 earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in MHO. Louisiana State Employees Retirement System increased its stake in shares of M/I Homes by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the construction company’s stock worth $247,000 after acquiring an additional 200 shares during the period. Russell Investments Group Ltd. increased its stake in shares of M/I Homes by 74.4% in the first quarter. Russell Investments Group Ltd. now owns 21,081 shares of the construction company’s stock worth $516,000 after acquiring an additional 8,990 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of M/I Homes by 4.6% in the first quarter. Great West Life Assurance Co. Can now owns 34,629 shares of the construction company’s stock worth $848,000 after acquiring an additional 1,520 shares during the period. Comerica Bank increased its stake in shares of M/I Homes by 4.1% in the first quarter. Comerica Bank now owns 27,265 shares of the construction company’s stock worth $753,000 after acquiring an additional 1,074 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in shares of M/I Homes in the first quarter worth $490,000.
M/I Homes Company Profile
M/I Homes, Inc is a builder of single-family homes. The Company consists of two operations: homebuilding and financial services. It operates through Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations segments. The Company and its subsidiaries are engaged primarily in the construction and sale of single-family residential homes in 15 markets: Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St.
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