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Here's Why M/I Homes (MHO) Fell More Than Broader Market
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The latest trading session saw M/I Homes (MHO - Free Report) ending at $147.61, denoting a -1.94% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.78%. Meanwhile, the Dow experienced a drop of 1.29%, and the technology-dominated Nasdaq saw a decrease of 0.7%.
The homebuilder's stock has climbed by 24.83% in the past month, exceeding the Construction sector's gain of 4.32% and the S&P 500's gain of 2.14%.
Market participants will be closely following the financial results of M/I Homes in its upcoming release. The company plans to announce its earnings on July 30, 2024. The company is predicted to post an EPS of $4.79, indicating a 16.26% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.05 billion, indicating a 3.71% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $18.18 per share and a revenue of $4.25 billion, indicating changes of +12.15% and +5.39%, respectively, from the former year.
Any recent changes to analyst estimates for M/I Homes should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. M/I Homes is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, M/I Homes is presently being traded at a Forward P/E ratio of 8.28. For comparison, its industry has an average Forward P/E of 9.52, which means M/I Homes is trading at a discount to the group.
The Building Products - Home Builders industry is part of the Construction sector. With its current Zacks Industry Rank of 86, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MHO in the coming trading sessions, be sure to utilize Zacks.com.
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Here's Why M/I Homes (MHO) Fell More Than Broader Market
The latest trading session saw M/I Homes (MHO - Free Report) ending at $147.61, denoting a -1.94% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.78%. Meanwhile, the Dow experienced a drop of 1.29%, and the technology-dominated Nasdaq saw a decrease of 0.7%.
The homebuilder's stock has climbed by 24.83% in the past month, exceeding the Construction sector's gain of 4.32% and the S&P 500's gain of 2.14%.
Market participants will be closely following the financial results of M/I Homes in its upcoming release. The company plans to announce its earnings on July 30, 2024. The company is predicted to post an EPS of $4.79, indicating a 16.26% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.05 billion, indicating a 3.71% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $18.18 per share and a revenue of $4.25 billion, indicating changes of +12.15% and +5.39%, respectively, from the former year.
Any recent changes to analyst estimates for M/I Homes should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. M/I Homes is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, M/I Homes is presently being traded at a Forward P/E ratio of 8.28. For comparison, its industry has an average Forward P/E of 9.52, which means M/I Homes is trading at a discount to the group.
The Building Products - Home Builders industry is part of the Construction sector. With its current Zacks Industry Rank of 86, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MHO in the coming trading sessions, be sure to utilize Zacks.com.