MHO: M/I Homes Inc Stock Assessment &

Analysis
M/I Homes, Inc (MHO) along with subsidiaries operates as a creator of single family homes in
different parts of N. America such as Ohio, Indiana, Illinois, Maryland, Minnesota, Virginia,
North Carolina, Florida and Texas. The company designs as well as constructed and sells single
family homes and purchases undeveloped land as well. Real estate financing is another area of
expertise, according to Yahoo Finance. The company was earlier known as M/I Schottenstein
Homes Inc and changed its name to M/I Homes in January 2004. Incorporated in 1973, this
company is headquartered in Columbus, Ohio.
Key Statistics

Analysis of First Quarter Results

The company declared Q1 results in April 2016. The net income was around US $9.2million or
US$0.30 per diluted share. Pre tax income rose 34 percent to US $ 14 million leaving out impact
of land sales gross profit which was US $700,000 in 2016 as against US $5.2 million in 2015.
Contracts increased by 10percent and homes delivered rose to 22 percent with average closing
price rising 9 percent. New divisions were also opened in Sarasota, Florida. For the first quarter
of 2016, net income was healthy as against Q1 for 2015.
1314 new contracts were reported, increasing from 1108 recorded within the first quarter of
2015. Robert H. Schottenstein CEO and President indicated in the company press release that
they were "pleased with our first quarter results" indicating a "strong start to 2016." What are the
positive indications making the stock a strong buy?
Schottenstein says " We delivered a first quarter record 876 homes, 22% more than last
year. New contracts increased 19% and our backlog sales value increased 27% to $730 million,
with 356 more homes in backlog than a year ago. And, our pre-tax income, excluding land sales
gross profit, increased by 34% due to increased closings, increased average sales price, and a 40
basis point improvement in our overhead expense ratio. We ended the quarter with our strongest
first quarter backlog in ten years."

Conclusion
The company is also expanding to Sarasota Florida. Returns have been healthy indicating that
the company is a good source of healthy returns. Investors would do well to purchase stocks in
Lenner Corp. As a rapidly developing company with avenues for further growth, this is a good
investment, according to stock market analysts such as Zacks and The Street along with Google
Finance.

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