M/I Homes (MHO) closed the most recent trading day at $158.26, moving +0.11% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.92% for the day. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.

The homebuilder's shares have seen a decrease of 6.35% over the last month, not keeping up with the Construction sector's loss of 1.67% and the S&P 500's gain of 2.68%.

The investment community will be paying close attention to the earnings performance of M/I Homes in its upcoming release. The company is slated to reveal its earnings on October 30, 2024. The company's earnings per share (EPS) are projected to be $4.94, reflecting a 2.49% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.13 billion, up 7.71% from the prior-year quarter.

MHO's full-year Zacks Consensus Estimates are calling for earnings of $19.76 per share and revenue of $4.42 billion. These results would represent year-over-year changes of +21.9% and +9.59%, respectively.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for M/I Homes. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. M/I Homes currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that M/I Homes has a Forward P/E ratio of 8 right now. This indicates a discount in contrast to its industry's Forward P/E of 9.75.

The Building Products - Home Builders industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.