#2 - M/I Homes (NYSE:MHO)
If the housing market recovers, homebuilder stocks will benefit. Falling mortgage rates is one thing, but having homes available to buy will be the key to sparking a rally with staying power.
M/I Homes Inc. (NYSE: MHO) is one of the leading single-family home builders. It operates in nine states including several of the states that have seen a population surge from the great relocation (Florida, Texas, North Carolina, and Tennessee).
On July 30, 2024, M/I Homes delivered its second-quarter earnings report. The company beat revenue and earnings expectations and both numbers were higher YOY. A key reason for this is the company’s net profit margin of 12.7%, which is above the industry average of 10.9%.
Although MHO stock is up 48% in the last year, it’s up just 4.9% in 2024. That’s lagging other homebuilder stocks, which creates an opportunity for investors looking for value in this sector.
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.
Read More - Current Price
- $154.87
- Consensus Rating
- Strong Buy
- Ratings Breakdown
- 2 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $197.50 (27.5% Upside)
