M/I Homes (NYSE:MHO) Reaches New 12-Month Low - What's Next?

M/I Homes, Inc. (NYSE:MHO - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $106.57 and last traded at $106.94, with a volume of 63678 shares traded. The stock had previously closed at $115.72.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of M/I Homes from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Raymond James restated a "strong-buy" rating and set a $168.00 price objective (down previously from $210.00) on shares of M/I Homes in a research note on Thursday, January 30th. Finally, Seaport Res Ptn upgraded M/I Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th.

M/I Homes Price Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 7.65. The business's fifty day simple moving average is $118.36 and its 200 day simple moving average is $140.81. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 5.27 and a beta of 1.99.

M/I Homes (NYSE:MHO - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $4.71 EPS for the quarter, missing analysts' consensus estimates of $4.96 by ($0.25). M/I Homes had a net margin of 12.51% and a return on equity of 20.20%. Research analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

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Hedge Funds Weigh In On M/I Homes

A number of hedge funds have recently added to or reduced their stakes in MHO. Donald Smith & CO. Inc. lifted its position in shares of M/I Homes by 6.0% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,164,189 shares of the construction company's stock worth $154,779,000 after buying an additional 65,771 shares during the last quarter. American Century Companies Inc. lifted its holdings in M/I Homes by 2.4% in the fourth quarter. American Century Companies Inc. now owns 850,417 shares of the construction company's stock worth $113,063,000 after acquiring an additional 20,055 shares during the last quarter. Geode Capital Management LLC boosted its stake in M/I Homes by 3.1% in the third quarter. Geode Capital Management LLC now owns 723,797 shares of the construction company's stock valued at $124,050,000 after acquiring an additional 21,575 shares during the period. Franklin Resources Inc. grew its holdings in shares of M/I Homes by 2.3% during the fourth quarter. Franklin Resources Inc. now owns 687,488 shares of the construction company's stock valued at $91,402,000 after purchasing an additional 15,685 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of M/I Homes by 8.4% during the 4th quarter. Northern Trust Corp now owns 347,000 shares of the construction company's stock worth $46,134,000 after purchasing an additional 26,820 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

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.