Key Points
- CEO Robert Schottenstein sold 20,000 shares on Feb. 10 at an average price of $144.47 for proceeds of $2.89M, trimming his stake by 5.99% to 313,874 shares (worth about $45.35M).
- The board has authorized a $250 million share repurchase program (up to ~7.4% of shares), signaling management believes the stock may be undervalued.
- M/I Homes slightly beat EPS estimates ($3.91 vs. $3.88) while revenue fell 4.9% YoY; analysts hold a consensus Moderate Buy with an average target of $161.67 and the stock trading around $145 (P/E ~9.9).
M/I Homes, Inc. (NYSE:MHO - Get Free Report) CEO Robert Schottenstein sold 20,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $144.47, for a total value of $2,889,400.00. Following the completion of the sale, the chief executive officer owned 313,874 shares of the company's stock, valued at $45,345,376.78. The trade was a 5.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
M/I Homes Price Performance
Shares of M/I Homes stock opened at $145.08 on Thursday. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 9.86 and a beta of 1.77. The company has a quick ratio of 1.72, a current ratio of 7.54 and a debt-to-equity ratio of 0.31. The stock's 50-day simple moving average is $133.80 and its 200-day simple moving average is $136.25. M/I Homes, Inc. has a 52 week low of $100.22 and a 52 week high of $158.92.
M/I Homes (NYSE:MHO - Get Free Report) last released its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.03. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the business posted $4.71 earnings per share. The firm's revenue was down 4.9% on a year-over-year basis. As a group, analysts expect that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.
M/I Homes announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 12th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on MHO shares. Zacks Research lowered shares of M/I Homes from a "hold" rating to a "strong sell" rating in a research report on Friday, January 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of M/I Homes in a research note on Thursday, January 22nd. Citigroup restated a "market outperform" rating on shares of M/I Homes in a research report on Friday, January 30th. Oppenheimer set a $165.00 target price on M/I Homes in a report on Friday, January 30th. Finally, Raymond James Financial increased their price target on M/I Homes from $150.00 to $155.00 and gave the company a "strong-buy" rating in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $161.67.
Read Our Latest Analysis on MHO
Institutional Trading of M/I Homes
A number of large investors have recently made changes to their positions in MHO. Salomon & Ludwin LLC bought a new position in shares of M/I Homes in the 3rd quarter valued at about $28,000. Hilton Head Capital Partners LLC bought a new stake in M/I Homes during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp raised its position in M/I Homes by 73.1% during the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company's stock valued at $30,000 after purchasing an additional 87 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company's stock valued at $32,000 after purchasing an additional 135 shares during the last quarter. Finally, Private Trust Co. NA purchased a new position in shares of M/I Homes in the 3rd quarter worth approximately $38,000. 95.14% of the stock is currently owned by institutional investors.
M/I Homes Company Profile
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Get Free Report)
M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.
In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.
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