Wedbush Has Positive Outlook of M/I Homes FY2024 Earnings

M/I Homes, Inc. (NYSE:MHO) – Analysts at Wedbush increased their FY2024 earnings per share (EPS) estimates for shares of M/I Homes in a research report issued on Monday, November 4th. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings per share of $20.15 for the year, up from their prior estimate of $19.90. Wedbush currently has a “Outperform” rating and a $185.00 target price on the stock. The consensus estimate for M/I Homes’ current full-year earnings is $19.84 per share. Wedbush also issued estimates for M/I Homes’ Q4 2024 earnings at $5.16 EPS, Q1 2025 earnings at $4.89 EPS, Q2 2025 earnings at $5.28 EPS, Q3 2025 earnings at $5.63 EPS, Q4 2025 earnings at $6.27 EPS, FY2025 earnings at $22.07 EPS, Q1 2026 earnings at $5.16 EPS, Q2 2026 earnings at $5.50 EPS, Q3 2026 earnings at $6.21 EPS and FY2026 earnings at $23.55 EPS.

A number of other brokerages have also weighed in on MHO. Raymond James lifted their target price 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. StockNews.com cut M/I Homes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st.

M/I Homes Stock Performance

NYSE:MHO opened at $160.77 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 6.81 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $162.52 and its 200 day simple moving average is $143.53. The stock has a market cap of $4.46 billion, a P/E ratio of 8.62 and a beta of 2.24. M/I Homes has a twelve month low of $93.25 and a twelve month high of $176.18.

Institutional Investors Weigh In On M/I Homes

Several hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its position in shares of M/I Homes by 260.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 199,877 shares of the construction company’s stock worth $34,251,000 after purchasing an additional 144,406 shares during the last quarter. Renaissance Technologies LLC raised its holdings in M/I Homes by 187.0% in the second quarter. Renaissance Technologies LLC now owns 79,200 shares of the construction company’s stock worth $9,673,000 after buying an additional 51,600 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of M/I Homes by 7.7% in the second quarter. American Century Companies Inc. now owns 703,983 shares of the construction company’s stock worth $85,984,000 after buying an additional 50,330 shares in the last quarter. Royce & Associates LP grew its holdings in shares of M/I Homes by 30.0% during the third quarter. Royce & Associates LP now owns 192,907 shares of the construction company’s stock valued at $33,057,000 after buying an additional 44,559 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of M/I Homes by 1.9% during the first quarter. Vanguard Group Inc. now owns 2,096,407 shares of the construction company’s stock valued at $285,719,000 after acquiring an additional 39,542 shares in the last quarter. 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.