M/I Homes Inc (MHO) Releases Earnings Results, Beats Expectations By $0.02 EPS

M/I Homes Inc (MHO) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.52 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.50. The company posted revenue of $401.20 million in the period, compared to analysts expectations of $400.11 million. The company’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

M/I Homes Inc opened for trading at $22.16 and hit $23.14 on the upside on Thursday, eventually ending the session at $23.01, with a gain of 3.42% or 0.76 points. The heightened volatility saw the trading volume jump to 3,88,158 shares. Company has a market cap of $568 M.

In a different news, on Sep 15, 2015, Norman L Traeger (director) sold 1,000 shares at $25.67 per share price. According to the SEC, on Jul 30, 2015, Robert H Schottenstein (Chairman, CEO and President) sold 14,079 shares at $24.38 per share price. On Apr 28, 2015, Thomas D Igoe (director) sold 9,207 shares at $23.38 per share price, according to the Form-4 filing with the securities and exchange commission.

M/I Homes Inc. is a builder of single-family homes. The Company operating segment includes homebuilding and financial services. The homebuilding operations segment include design market construct and sell single-family homes attached town homes and condominiums to first-time move-up empty-nester and luxury buyers. Its homebuilding operations have three divisions which includes the Midwest Mid-Atlantic and Southern regions. The financial services operations segment includes originating and selling mortgages and collecting fees for title insurance and closing services. Its financial services operations support its homebuilding operations by providing mortgage loans and title services to the customers of its homebuilding operations. It offers mortgage banking services to its homebuyers through its 100%-owned subsidiary M/I Financial. The Company has delivered approximately 90000 homes. It markets and sells its homes under the M/I Homes and Showcase Collection brands.

M/I Homes Inc

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