Wall Street analysts forecast that M/I Homes (MHO) will report quarterly earnings of $4.16 per share in its upcoming release, pointing to a year-over-year decline of 13%. It is anticipated that revenues will amount to $1.12 billion, exhibiting an increase of 7.1% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific M/I Homes metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Revenue- Financial services revenue' to come in at $31.40 million. The estimate indicates a year-over-year change of +16.5%.
The average prediction of analysts places 'Revenue- Homebuilding revenue- Housing revenue' at $1.09 billion. The estimate indicates a year-over-year change of +7%.
Analysts forecast 'Average home closing price' to reach $489.71 thousand. Compared to the present estimate, the company reported $471 thousand in the same quarter last year.
The collective assessment of analysts points to an estimated 'Homes delivered - Total' of 2,221. Compared to the present estimate, the company reported 2,158 in the same quarter last year.
According to the collective judgment of analysts, 'New contracts - Total' should come in at 2,599. The estimate is in contrast to the year-ago figure of 2,547.
It is projected by analysts that the 'Average sales price of homes in backlog - Total Homebuilding Regions' will reach $547.03 thousand. Compared to the current estimate, the company reported $528 thousand in the same quarter of the previous year.
The consensus among analysts is that 'Number of active communities (Average community count)' will reach 224. The estimate is in contrast to the year-ago figure of 216.
The consensus estimate for 'Aggregate sales value of homes in backlog - Total Homebuilding Regions' stands at $1.59 billion. Compared to the present estimate, the company reported $1.79 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Homes in backlog' will likely reach 2,910. The estimate is in contrast to the year-ago figure of 3,391.
View all Key Company Metrics for M/I Homes here>>>
Over the past month, M/I Homes shares have recorded returns of -11.1% versus the Zacks S&P 500 composite's -6.3% change. Based on its Zacks Rank #3 (Hold), MHO will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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M/I Homes, Inc. (MHO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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