M/I Homes (NYSE:MHO) Shares Gap Up - What's Next?

M/I Homes, Inc. (NYSE:MHO - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $114.28, but opened at $119.17. M/I Homes shares last traded at $120.99, with a volume of 27,081 shares changing hands.

Analyst Upgrades and Downgrades

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

M/I Homes Trading Up 6.1%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.79 and a current ratio of 7.43. The stock has a market cap of $3.25 billion, a P/E ratio of 6.41 and a beta of 1.64. The stock's fifty day moving average is $111.00 and its 200 day moving average is $115.50.

M/I Homes (NYSE:MHO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $3.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by ($0.18). The firm had revenue of $976.09 million during the quarter, compared to the consensus estimate of $1.12 billion. M/I Homes had a return on equity of 18.62% and a net margin of 12.11%. The firm's revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.78 EPS. As a group, equities research analysts predict that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

Institutional Trading of M/I Homes

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of M/I Homes by 2.6% during the first quarter. Principal Financial Group Inc. now owns 144,678 shares of the construction company's stock valued at $16,519,000 after acquiring an additional 3,698 shares in the last quarter. GAMMA Investing LLC increased its holdings in M/I Homes by 57.6% during the first quarter. GAMMA Investing LLC now owns 919 shares of the construction company's stock valued at $105,000 after buying an additional 336 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in M/I Homes by 17.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,205 shares of the construction company's stock valued at $594,000 after buying an additional 763 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in M/I Homes by 44.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,707 shares of the construction company's stock valued at $880,000 after buying an additional 2,363 shares during the period. Finally, Fifth Third Bancorp increased its holdings in M/I Homes by 38.3% during the first quarter. Fifth Third Bancorp now owns 379 shares of the construction company's stock valued at $43,000 after buying an additional 105 shares during the period. Institutional investors 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.

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