M/I Homes Falls 1.17% as Earnings Date Nears
The homebuilder’s shares lagged major indexes, while Zacks consensus estimates point to lower quarterly earnings and revenue year over year.
M/I Homes shares closed at $135.79 on Sept. 29, down 1.17% from the previous session. The decline exceeded losses in the S&P 500, Dow and Nasdaq.
Over the past month, M/I Homes shares fell 7.67%, according to the article. The Construction sector declined 4.05% and the S&P 500 slipped 0.24% over the same period.
The homebuilder is scheduled to report earnings on Oct. 21. Zacks consensus estimates project earnings per share of $3.05 and revenue of $1.09 billion for the quarter, down 26.33% and 3.31%, respectively, from a year earlier.
For the full fiscal year, Zacks estimates earnings of $12 per share and revenue of $4.18 billion. Those figures would represent declines of 18.59% and 5.37% from the previous year.
The consensus estimate for quarterly earnings per share fell 3.96% over the past month. Zacks listed M/I Homes’ forward price-to-earnings ratio at 11.45, compared with 13.18 for its industry.
This article was produced with the help of AI technology.
Source: Yahoo Finance
