M/I Homes FY2024 EPS Estimate Lowered by Seaport Res Ptn

M/I Homes, Inc. (NYSE:MHO - Free Report) - Seaport Res Ptn cut their FY2024 earnings per share estimates for M/I Homes in a report issued on Monday, November 11th. Seaport Res Ptn analyst K. Zener now forecasts that the construction company will post earnings of $19.73 per share for the year, down from their prior forecast 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 research firms also recently commented on MHO. Wedbush upgraded M/I Homes from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $155.00 to $185.00 in a report on Monday, November 4th. StockNews.com lowered M/I Homes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 31st. Finally, Raymond James raised their price target on shares of M/I Homes from $200.00 to $210.00 and gave the company a "strong-buy" rating in a research note on Friday, August 2nd.

M/I Homes Price Performance

M/I Homes stock traded down $2.50 during mid-day trading on Wednesday, hitting $153.50. 247,075 shares of the company were exchanged, compared to its average volume of 277,666. M/I Homes has a 12-month low of $100.00 and a 12-month high of $176.18. The company has a market capitalization of $4.26 billion, a P/E ratio of 8.43 and a beta of 2.24. The business's 50 day simple moving average is $162.94 and its two-hundred day simple moving average 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.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in shares of M/I Homes by 48.3% in the first quarter. SG Americas Securities LLC now owns 3,803 shares of the construction company's stock valued at $518,000 after buying an additional 1,238 shares during the period. Swiss National Bank increased its stake in shares of M/I Homes by 0.4% during the 1st quarter. Swiss National Bank now owns 55,000 shares of the construction company's stock worth $7,496,000 after purchasing an additional 200 shares during the last quarter. ProShare Advisors LLC raised its stake in M/I Homes by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 5,453 shares of the construction company's stock valued at $743,000 after acquiring an additional 373 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of M/I Homes by 3.0% during the first quarter. Westfield Capital Management Co. LP now owns 1,219,989 shares of the construction company's stock worth $166,272,000 after acquiring an additional 35,558 shares in the last quarter. Finally, Spirepoint Private Client LLC bought a new position in shares of M/I Homes in the first quarter valued at approximately $205,000. 95.14% of the stock is currently owned by institutional investors.

Insider Activity at M/I Homes

In other M/I Homes news, CFO Phillip G. Creek sold 20,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $160.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by insiders.

M/I Homes Company Profile

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.