M/I Homes (MHO) closed the most recent trading day at $137.40, moving -2.4% from the previous trading session. This change lagged the S&P 500's 1.62% loss on the day. Elsewhere, the Dow lost 1.87%, while the tech-heavy Nasdaq lost 1.98%.
The stock of homebuilder has risen by 9.99% in the past month, leading the Construction sector's loss of 1.1% and the S&P 500's loss of 0.03%.
The investment community will be paying close attention to the earnings performance of M/I Homes in its upcoming release. The company is forecasted to report an EPS of $3.17, showcasing a 28.28% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.18 billion, up 1.84% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.6 per share and a revenue of $4.37 billion, representing changes of -14.52% and -0.98%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for M/I Homes. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. M/I Homes currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, M/I Homes is presently being traded at a Forward P/E ratio of 11.17. This denotes a discount relative to the industry average Forward P/E of 14.39.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 227, putting it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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M/I Homes, Inc. (MHO): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).