M/I Homes (NYSE:MHO) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

M/I Homes (NYSE:MHO - Get Free Report) posted its quarterly earnings data on Wednesday. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.43 by ($0.01), Zacks reports. M/I Homes had a net margin of 11.40% and a return on equity of 17.23%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.12 billion. The business's quarterly revenue was up 4.8% on a year-over-year basis.

M/I Homes Stock Up 1.1%

Shares of MHO stock traded up $1.31 during mid-day trading on Friday, hitting $122.41. The stock had a trading volume of 274,101 shares, compared to its average volume of 316,900. M/I Homes has a 12-month low of $100.22 and a 12-month high of $176.18. The firm has a market capitalization of $3.28 billion, a P/E ratio of 6.72 and a beta of 1.64. The firm's 50-day moving average is $111.88 and its two-hundred day moving average is $115.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 6.95 and a quick ratio of 1.79.

Institutional Investors Weigh In On M/I Homes

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of M/I Homes by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,868 shares of the construction company's stock worth $1,812,000 after acquiring an additional 703 shares in the last quarter. Strs Ohio bought a new position in shares of M/I Homes in the 1st quarter worth $114,000. United Services Automobile Association bought a new position in shares of M/I Homes in the 1st quarter worth $205,000. Finally, Royal Bank of Canada raised its position in shares of M/I Homes by 46.3% in the 1st quarter. Royal Bank of Canada now owns 29,774 shares of the construction company's stock worth $3,400,000 after acquiring an additional 9,422 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MHO shares. Wall Street Zen cut M/I Homes from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Raymond James Financial dropped their price objective on M/I Homes from $168.00 to $140.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th.

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.