In the latest market close, M/I Homes (MHO) reached $162.81, with a +1.19% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.61% for the day. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 0.33%.

Shares of the homebuilder witnessed a gain of 1.07% over the previous month, trailing the performance of the Construction sector with its gain of 5.21% and the S&P 500's gain of 5.36%.

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. In that report, analysts expect M/I Homes to post earnings of $4.94 per share. This would mark year-over-year growth of 2.49%. Alongside, our most recent consensus estimate is anticipating revenue of $1.13 billion, indicating a 7.71% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $19.76 per share and a revenue of $4.42 billion, demonstrating changes of +21.9% and +9.59%, respectively, from the preceding year.

It is also important to note the recent changes to analyst estimates 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 company's business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, M/I Homes possesses a Zacks Rank of #3 (Hold).

With respect to valuation, M/I Homes is currently being traded at a Forward P/E ratio of 8.14. This represents a discount compared to its industry's average Forward P/E of 9.99.

The Building Products - Home Builders industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 40% 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.