This story originally appeared on Zacks
M / I Homes (MHO) closed at $ 62.18 on the last trading session, marking a movement of + 0.55% from the previous day. The stock topped the S&P 500’s 0.26% daily loss. Meanwhile, the Dow Jones lost 0.16% and the technology-heavy Nasdaq fell 0.04%.
Prior to today’s stock market, the homebuilder’s shares had gained 3.08% over the past month. This was less than the construction sector’s 6.68% gain and the S&P 500’s 4.82% gain during this period.
Investors are hoping for strength from M / I Homes as the next earnings release nears. The company is expected to post EPS of $ 3.48, up 17.97% from the previous year quarter. Our most recent consensus estimate projects quarterly revenue of $ 980.5 million, up 8.17% from the previous year.
For the full year, our Zacks consensus estimates project earnings of $ 12.94 per share and revenue of $ 3.67 billion, which would represent changes of + 52.77% and +20. , 63%, respectively, compared to the previous year.
Investors should also note any recent changes in analyst estimates for M / I Homes. These revisions generally reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions correlate directly with short-term stock price dynamics. Investors can take advantage of this by using the Zacks Ranking. This model takes into account these changes in estimate and provides a simple and workable scoring system.
Zacks’ ranking system, which ranges from # 1 (strong buy) to # 5 (strong sell), has an impressive record of externally audited outperformance, with # 1 stocks generating an average annual return of + 25% since 1988. Over the past 30 days, our consensus EPS forecast has remained stagnant. M / I Homes is currently a Zacks Rank # 3 (Hold).
In terms of valuation, M / I Homes is currently trading at a forward P / E ratio of 4.78. Its industry has an average forward P / E of 6.93, so one could conclude that M / I Homes is trading at a comparatively discount.
The Construction products – Home builders industry belongs to the Construction sector. This group has a Zacks Industry Rank of 80, which places it in the top 32% of the 250+ industries.
The Zacks Industry Rankings include is ranked from best to worst in terms of the average Zacks rankings of individual companies in each of these industries. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
To follow MHO in future trading sessions, be sure to use Zacks.com.
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MI Homes, Inc. (MHO): Free Inventory Analysis Report
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