M/I Homes (NYSE:MHO) Stock

M/I Homes

M/I Homes Inc is an American construction company that focuses on residential construction. It consists of two distinct operations: homebuilding and financial services. The homebuilding operations are spread into the Midwest, Mid-Atlantic, and Southern regions, and the financial services operations support homebuilding operations by providing mortgage loans and title services to the customers of homebuilding operations. Homebuilding operations comprise a predominant portion of the revenue. The company builds homes and communities that target entry-level, move-up, and luxury homebuyers.

M/I Homes Inc

News

Buybacks

M/I Homes Approves A New Share Repurchase Authorization Of Up To $250M

WIIM

BLDR

Shares of homebuilders, construction and household durables stocks are trading lower. The sector has been under pressure amid tariff uncertainty.

TMHC

Shares of homebuilders and construction companies are trading lower as investors assess U.S. tariff concerns which may harm the industry.

Raymond James analyst Buck Horne reiterates M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) with a Strong Buy and lowers the price target from $210 to $168.

Price Target

Reiteration

Analyst Ratings

Raymond James Reiterates Strong Buy on M/I Homes, Lowers Price Target to $168

The earnings results for M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) for Q4 were made public on Wednesday, January 29, 2025 at 07:30 AM.
Here's a comprehensive overview of the announcement.
<h3>Earnings</h3>
M/I Homes missed estimated earnings by -2.0%, reporting an EPS of $4.71 versus an estimate of $4.83.
Revenue was up $232.41 million from the same period last year.
<h3>Analysis of Past Earnings</h3>
The company beat on EPS by $0.16 in the last quarter, resulting in a 1.0% drop share price change the following day.
Here's a look at M/I Homes's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>4.94</td>
<td>4.59</td>
<td>3.96</td>
<td>4.94</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>5.10</td>
<td>5.12</td>
<td>4.78</td>
<td>3.66</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>1.12B</td>
<td>1.06B</td>
<td>1.01B</td>
<td>1.19B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>1.14B</td>
<td>1.11B</td>
<td>1.05B</td>
<td>972.59M</td>
</tr>
</tbody>
</table>

To track all earnings releases for M/I Homes <a href="https://www.benzinga.com/quote/MHO/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

M/I Homes Earnings Report: Q4 Overview

M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) reported quarterly earnings of $4.71 per share which missed the analyst consensus estimate of $4.88 by 3.48 percent. This is a 28.69 percent increase over earnings of $3.66 per share from the same period last year. The company reported quarterly sales of $1.205 billion which beat the analyst consensus estimate of $1.168 billion by 3.17 percent. This is a 23.92 percent increase over sales of $972.588 million the same period last year.

Earnings Beats

Earnings Misses

M/I Homes Q4 2024 GAAP EPS $4.71 Misses $4.88 Estimate, Sales $1.205B Beat $1.168B Estimate

<h3>Companies Reporting Before The Bell</h3>
• Stifel Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SF#NYSE">SF</a>) is likely to report quarterly earnings at $1.97 per share on revenue of $1.28 billion. 
• Virtu Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>) is projected to report quarterly earnings at $0.82 per share on revenue of $385.34 million. 
• Otis Worldwide (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OTIS#NYSE">OTIS</a>) is likely to report quarterly earnings at $0.96 per share on revenue of $3.63 billion. 
• Teva Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) is projected to report quarterly earnings at $0.70 per share on revenue of $4.12 billion. 
• Wabash National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) is expected to report quarterly earnings at $0.03 per share on revenue of $412.92 million. 
• Flex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) is likely to report quarterly earnings at $0.63 per share on revenue of $6.20 billion. 
• Southside Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBSI#NYSE">SBSI</a>) is projected to report quarterly earnings at $0.71 per share on revenue of $68.12 million. 
• MSCI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) is estimated to report quarterly earnings at $3.96 per share on revenue of $747.63 million. 
• Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) is estimated to report quarterly earnings at $0.75 per share on revenue of $388.90 million. 
• Monro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNRO#NASDAQ">MNRO</a>) is likely to report quarterly earnings at $0.30 per share on revenue of $311.88 million. 
• Central Pacific Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPF#NYSE">CPF</a>) is estimated to report quarterly earnings at $0.62 per share on revenue of $67.00 million. 
• Eagle Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXP#NYSE">EXP</a>) is likely to report quarterly earnings at $4.00 per share on revenue of $575.21 million. 
• Blue Foundry (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLFY#NASDAQ">BLFY</a>) is likely to report quarterly loss at $0.17 per share on revenue of $10.02 million. 
• Avnet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVT#NASDAQ">AVT</a>) is estimated to report quarterly earnings at $0.88 per share on revenue of $5.56 billion. 
• Coda Octopus Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CODA#NASDAQ">CODA</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $5.27 million. 
• Norfolk Southern (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) is likely to report quarterly earnings at $2.97 per share on revenue of $3.03 billion. 
• Extreme Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXTR#NASDAQ">EXTR</a>) is likely to report quarterly earnings at $0.18 per share on revenue of $278.05 million. 
• Group 1 Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) is estimated to report quarterly earnings at $9.09 per share on revenue of $5.21 billion. 
• Brinker International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>) is estimated to report quarterly earnings at $1.11 per share on revenue of $1.12 billion. 
• Silgan Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLGN#NYSE">SLGN</a>) is likely to report quarterly earnings at $0.83 per share on revenue of $1.40 billion. 
• VF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) is likely to report quarterly earnings at $0.33 per share on revenue of $2.75 billion. 
• Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) is expected to report quarterly earnings at $1.50 per share on revenue of $3.05 billion. 
• Navient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAVI#NASDAQ">NAVI</a>) is projected to report quarterly earnings at $0.26 per share on revenue of $136.80 million. 
• Nasdaq (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) is expected to report quarterly earnings at $0.75 per share on revenue of $1.22 billion. 
• CGI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIB#NYSE">GIB</a>) is likely to report quarterly earnings at $1.40 per share on revenue of $2.64 billion. 
• Prosperity Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PB#NYSE">PB</a>) is expected to report quarterly earnings at $1.33 per share on revenue of $303.21 million. 
• Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) is expected to report quarterly earnings at $3.56 per share on revenue of $18.76 billion. 
• General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) is expected to report quarterly earnings at $4.23 per share on revenue of $13.21 billion. 
• Applied Industrial Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIT#NYSE">AIT</a>) is expected to report quarterly earnings at $2.21 per share on revenue of $1.08 billion. 
• T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) is projected to report quarterly earnings at $2.30 per share on revenue of $21.37 billion. 
• Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) is projected to report quarterly earnings at $0.56 per share on revenue of $3.76 billion. 
• Lennox Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>) is expected to report quarterly earnings at $4.14 per share on revenue of $1.23 billion. 
• M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) is likely to report quarterly earnings at $4.83 per share on revenue of $1.17 billion. 
• Danaher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) is projected to report quarterly earnings at $2.15 per share on revenue of $6.39 billion. 
• Scotts Miracle Gro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) is likely to report quarterly loss at $1.23 per share on revenue of $392.29 million. 
• Automatic Data Processing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) is expected to report quarterly earnings at $2.30 per share on revenue of $4.97 billion. 
• ASML Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) is expected to report quarterly earnings at $6.71 per share on revenue of $9.02 billion. 
<h3>Companies Reporting After The Bell</h3>
• Whirlpool (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) is likely to report quarterly earnings at $4.31 per share on revenue of $4.23 billion. 
• Las Vegas Sands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) is estimated to report quarterly earnings at $0.58 per share on revenue of $2.91 billion. 
• John B Sanfilippo &amp; Son (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBSS#NASDAQ">JBSS</a>) is likely to report earnings for its second quarter. 
• Wolfspeed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) is projected to report quarterly loss at $1.00 per share on revenue of $179.89 million. 
• Robert Half (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHI#NYSE">RHI</a>) is likely to report quarterly earnings at $0.56 per share on revenue of $1.39 billion. 
• Bassett Furniture Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSET#NASDAQ">BSET</a>) is projected to report quarterly loss at $0.01 per share on revenue of $82.97 million. 
• Two Harbors Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWO#NYSE">TWO</a>) is estimated to report quarterly earnings at $0.37 per share on revenue of $-21 million. 
• Tetra Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTEK#NASDAQ">TTEK</a>) is projected to report quarterly earnings at $0.33 per share on revenue of $1.10 billion. 
• Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is projected to report quarterly earnings at $0.76 per share on revenue of $27.12 billion. 
• Teradyne (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) is estimated to report quarterly earnings at $0.91 per share on revenue of $740.91 million. 
• Washington Trust Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WASH#NASDAQ">WASH</a>) is estimated to report quarterly earnings at $0.58 per share on revenue of $48.36 million. 
• Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) is estimated to report quarterly earnings at $1.79 per share on revenue of $5.90 billion. 
• Meritage Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>) is likely to report quarterly earnings at $1.10 per share on revenue of $1.57 billion. 
• Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) is projected to report quarterly earnings at $1.84 per share on revenue of $4.26 billion. 
• First Interstate BancSys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIBK#NASDAQ">FIBK</a>) is projected to report quarterly earnings at $0.46 per share on revenue of $251.46 million. 
• Benchmark Electronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHE#NYSE">BHE</a>) is projected to report quarterly earnings at $0.56 per share on revenue of $660.00 million. 
• United Rentals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) is likely to report quarterly earnings at $11.71 per share on revenue of $3.94 billion. 
• Landstar System (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSTR#NASDAQ">LSTR</a>) is estimated to report quarterly earnings at $1.34 per share on revenue of $1.20 billion. 
• Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) is estimated to report quarterly earnings at $0.88 per share on revenue of $4.32 billion. 
• High Tide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HITI#NASDAQ">HITI</a>) is estimated to report quarterly loss at $0.02 per share on revenue of $99.08 million. 
• Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is expected to report quarterly earnings at $3.12 per share on revenue of $68.86 billion. 
• Liberty Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>) is expected to report quarterly earnings at $0.15 per share on revenue of $994.31 million. 
• Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) is expected to report quarterly earnings at $1.07 per share on revenue of $994.61 million. 
• Annaly Capital Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NLY#NYSE">NLY</a>) is projected to report quarterly earnings at $0.66 per share on revenue of $1.26 billion. 
• Hawkins (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWKN#NASDAQ">HWKN</a>) is expected to report quarterly earnings at $0.92 per share on revenue of $219.22 million. 
• Levi Strauss (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) is estimated to report quarterly earnings at $0.48 per share on revenue of $1.73 billion. 
• Ameriprise Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>) is likely to report quarterly earnings at $9.19 per share on revenue of $4.47 billion. 
• Ethan Allen Interiors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETD#NYSE">ETD</a>) is likely to report quarterly earnings at $0.61 per share on revenue of $160.60 million. 
• Selective Insurance Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGI#NASDAQ">SIGI</a>) is estimated to report quarterly earnings at $2.01 per share on revenue of $1.27 billion. 
• ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) is projected to report quarterly earnings at $3.65 per share on revenue of $2.96 billion. 
• SEI Inv (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEIC#NASDAQ">SEIC</a>) is likely to report quarterly earnings at $1.20 per share on revenue of $555.43 million. 
• Dolby Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLB#NYSE">DLB</a>) is expected to report quarterly earnings at $1.05 per share on revenue of $346.15 million. 
• Celestica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLS#NYSE">CLS</a>) is likely to report quarterly earnings at $1.04 per share on revenue of $2.51 billion. 
• Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is projected to report quarterly earnings at $6.73 per share on revenue of $46.98 billion. 
• Raymond James Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>) is expected to report quarterly earnings at $2.66 per share on revenue of $3.47 billion. 
• National Fuel Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NFG#NYSE">NFG</a>) is estimated to report quarterly earnings at $1.53 per share on revenue of $615.17 million. 
• MaxLinear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MXL#NASDAQ">MXL</a>) is estimated to report quarterly loss at $0.13 per share on revenue of $90.00 million. 
• Brookline Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKL#NASDAQ">BRKL</a>) is likely to report quarterly earnings at $0.24 per share on revenue of $90.68 million. 
• Canadian Pacific Kansas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) is estimated to report quarterly earnings at $1.27 per share on revenue of $3.96 billion. 
• IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) is likely to report quarterly earnings at $3.79 per share on revenue of $17.60 billion. 
• Bridgewater Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWB#NASDAQ">BWB</a>) is expected to report quarterly earnings at $0.24 per share on revenue of $27.65 million. 
• Axis Capital Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXS#NYSE">AXS</a>) is estimated to report quarterly earnings at $2.53 per share on revenue of $1.33 billion. 
• C.H. Robinson Worldwide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) is estimated to report quarterly earnings at $1.11 per share on revenue of $4.43 billion. 
• Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) is projected to report quarterly earnings at $0.21 per share on revenue of $133.59 million. 
• Calix (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) is expected to report quarterly earnings at $0.07 per share on revenue of $203.91 million. 
• Cimpress (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPR#NASDAQ">CMPR</a>) is projected to report quarterly earnings at $2.38 per share on revenue of $968.96 million. 
• Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) is projected to report quarterly earnings at $3.18 per share on revenue of $1.28 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For January 29, 2025

IESC

Shares of homebuilders, construction and household durables stocks are trading lower amid overall market weakness following the Fed's rate decision to cut rates by 25 basis points.

Shares of homebuilders and housing-linked stocks are trading higher amid a drop in yields.

Every quarter, I track the 13F filings at the SEC. These are the reports filed by money managers of all stripes that show what the funds owned during the most recent quarter. When you compare the current list to the prior quarter, you come away with a clear picture of what institutions are buying for their customers and themselves.
When I started in the business, it took several days past the deadline to get a copy of the filings. I would go through the current and previous filings with a ruler and a yellow highlighter to track the changes. It was laborious but profitable. Today, the filings are made available instantly, and the portfolios and changes are posted to the internet instantly.
The Thundering Herd of Wall Street and the Instant Experts of the Internet will flock to read the filings of the best-known money managers and investors. Obviously, Warren Buffett gets a lot of attention. So do Carl Icahn and Cathie Wood. Bill Ackman also garners some attention. The number of people who dig deeper to find managers that are doing business away from the spotlights and consistently delivering high returns is small.
The famous investors are famous because they did well over time. However, they now manage billions of dollars, and their opportunity set is limited to large-cap stocks. You can do okay with their stocks, but if you want better than okay, you have to dig deeper.
If you joined the circus of Buffettology and just owned the top 20 holdings of Berkshire Hathaway for the last 10 years, you have earned about half the return of the S&amp;P 500. You did much worse as an Icahn clone investor. A very small portion of Klarman&#8217;s fund is invested in stocks these days as he finds bargains in other asset classes like debt and real estate. The stocks Baupost Fund has purchased have not been big winners for the most part.
If you could make the same derivatives bets Bill Ackman made when he made them, you would have done pretty well. If you just bought the stocks he did, you would have lagged the indexes. If you bought the top 20 stocks held by Donald Smith and Company, you would have crushed the market over the last decade. You would have crushed the market for over 20 years cloning this unknown investment firm.
You would have never owned the most exciting stocks. About half the time, you would have trailed the index in a given calendar year. In the years you outperformed, you outperformed by a massive margin.
This approach is incredibly boring.
Donald Smith and Company focuses on the bottom 10% of the stock market as measured by price-to-book value. They narrow the universe down to the cheapest ones and buy the ones they think have the highest potential for recovery. They have done that for over 40 years with exceptional results. Elections, crashes, melt-ups, and meltdowns have come and gone, and this firm just keeps its head down and buys cheap stocks.
As it turns out, boring is profitable.
Founder Donald Smith passed away in 2019, but his associates have kept the firm going with the same mission. The top 20 holdings contain no tech stocks. They do not even own a single tech stock or uranium miner. Donald Smith and Company owns some insurance companies, energy firms, homebuilders, REITs, and even steel companies.
Using their 13F filings to manage your portfolio or find ideas would have delivered market-beating returns that grew your wealth at a much faster pace than owning an index fund. $10,000 invested in the index with dividends reinvested would have piled up to a total of about $67,300. Shamelessly cloning the Donald Smith and Company portfolio would have given you over $151,000.
Today is the deadline for 13F filings covering holdings on September 30, 2024. The Instant Experts and talking heads will be out discussing what the famous investors have been doing. The key is to focus on what the investors who are still crushing the market are doing. We will talk more about this idea over the next week. For now, here are the top 20 stocks owned by Donald Smith and Company as of the end of the third quarter:

<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Aercap holdings</td>
<td>(Ticker: AER)</td>
</tr>
<tr>
<td>Eldorado Gold</td>
<td>(Ticker: EGO)</td>
</tr>
<tr>
<td>M/i &nbsp;Homes</td>
<td>(Ticker: MHO)</td>
</tr>
<tr>
<td>Jackson Financial</td>
<td>(Ticker: JXN)</td>
</tr>
<tr>
<td>Unum</td>
<td>(Ticker: UNM)</td>
</tr>
<tr>
<td>Genworth</td>
<td>(Ticker: GNW)</td>
</tr>
<tr>
<td>US Steel</td>
<td>(Ticker: X)</td>
</tr>
<tr>
<td>Iamgold</td>
<td>(Ticker: IAG)</td>
</tr>
<tr>
<td>Civitas</td>
<td>(Ticker: CIVI)</td>
</tr>
<tr>
<td>Taylor Morrison Homes</td>
<td>(Ticker: TMHC)</td>
</tr>
<tr>
<td>Howard Hughes Corporation</td>
<td>(Ticker: HHH)</td>
</tr>
<tr>
<td>Corebridge</td>
<td>(Ticker: CRBG)</td>
</tr>
<tr>
<td>Golar LNG</td>
<td>(Ticker: GLNG)</td>
</tr>
<tr>
<td>Park Hotles and Resorts</td>
<td>(Ticker: PK)</td>
</tr>
<tr>
<td>Equinox Gold</td>
<td>(Ticker: EQX)</td>
</tr>
<tr>
<td>Beazer Homes</td>
<td>(Ticker: BZH)</td>
</tr>
<tr>
<td>Siriuspoint ltd</td>
<td>(Ticker: SPNT)</td>
</tr>
<tr>
<td>Radian Group</td>
<td>(Ticker: RDN)</td>
</tr>
<tr>
<td>Ternium</td>
<td>(Ticker: TX)</td>
</tr>
<tr>
<td>Ally Financial</td>
<td>(Ticker: ALLY)</td>
</tr>
</tbody>
</table>
</figure>

Opinion

ALLY

CIVI

GLNG

SPNT

C-Suite Buys of the Week: November 14, 2024

M/I Homes's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) short percent of float has risen 15.37% since its last report. The company recently reported that it has 1.06 million shares sold short, which is 4.88% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.37 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>M/I Homes Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730748612_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for M/I Homes has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing M/I Homes's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, M/I Homes's peer group average for short interest as a percentage of float is 5.72%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Peering Into M/I Homes's Recent Short Interest

M/I Homes shares are trading higher after Wedbush upgraded the stock from Neutral to Outperform and announced a $185 price target.

Wedbush analyst Jay McCanless upgrades M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) from Neutral to Outperform and announces $185 price target.

Upgrades

Wedbush Upgrades M/I Homes to Outperform, Announces $185 Price Target

Macro Economic Events

Macro Notification

Econ #s

Economics

General

MDCE

USA Pending Home Sales (MoM) For September 7.4% Vs 1.9% Est.; 0.6% Prior

M/I Homes Q4 New Contracts Remained Flat Y/Y At 2,023, Homes Delivered Increased 8% to 2,271

M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) reported quarterly earnings of $5.10 per share which beat the analyst consensus estimate of $4.86 by 4.94 percent. The company reported quarterly sales of $1.143 billion which beat the analyst consensus estimate of $1.122 billion by 1.90 percent. This is a 9.27 percent increase over sales of $1.046 billion the same period last year.

M/I Homes Q3 2024 GAAP EPS $5.10 Beats $4.86 Estimate, Sales $1.143B Beat $1.122B Estimate

Shares of homebuilders and housing-related stocks are trading lower in possible sympathy with D.R. Horton, which reported worse-than-expected Q4 EPS and sales.

Lennar Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/len#NYSE">LEN</a>) reported third-quarter fiscal 2024 results, wherein its earnings and revenues surpassed the Zacks Consensus Estimate.
On a year-over-year basis, revenues increased, given the company&#39;s emphasis on maintaining a steady production rate to drive sales momentum. Lennar strategically utilized pricing, incentives, marketing expenditure and dynamic pricing insights to ensure steady sales volume despite fluctuations in interest rates.
However, earnings fell by a cent from the year-ago period. LEN&#39;s stock plunged 2.4% in the after-hours trading session on Sept. 19. Investors&#39; sentiments might have been hurt by lower earnings and gross margin in the fiscal third quarter, as well as tepid fiscal fourth-quarter guidance.
<h2>Quarterly Numbers</h2>
LEN reported adjusted earnings per share (excluding mark-to-market gains on technology investments and one-time items in its Multifamily segment) of $3.90, which topped the Zacks Consensus Estimate of $3.62 by 7.7%. The metric, however, slipped 0.3% year over year from $3.91 per share.
<div class="chart_embed">
<h3>Lennar Corporation Price, Consensus and EPS Surprise</h3>
<img alt="Lennar Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/fa/1726841318.png" style="height:265px; width:589px" title="" />
Lennar Corporation price-consensus-eps-surprise-chart | Lennar Corporation Quote
Revenues of $9.42 billion topped the Zacks Consensus Estimate of $9.29 billion by 1.4% and rose 7.9% year over year from $8.73 billion.
</div>
<h2>Segment Details</h2>
Homebuilding: Revenues of the segment totaled $9.05 billion, up 8.7% from the prior-year quarter. Under the Homebuilding umbrella, home sales contributed $9.02 billion to total revenues, up 8.8% from a year ago.
Land sales accounted for $19.5 million, down from $20.4 million in the prior-year quarter. The Other homebuilding unit contributed $8.6 million to homebuilding revenues, down from $12.3 million a year ago.
Home deliveries for the reported quarter improved 16% from the year-ago level to 21,516 units. The reported figure was better than our projection of 20,598 units for the quarter. The average sales price&nbsp;of homes delivered was $422,000, down 5.8% from the year-ago figure due to pricing to market through an increased use of incentives and product mix. Our model had predicted ASP to be $432,910 for the fiscal third quarter.
New orders rose 5% from the year-ago quarter to 20,587 homes. However, the potential value of net orders fell 0.9% year over year to $8.56 billion.
Backlog at the fiscal third-quarter end declined 20.5% from the year-ago quarter to 16,944 homes. Potential housing revenues from backlog decreased 21.4% year over year to $7.75 billion.
The gross margin on home sales was 22.5% for the quarter, down 190 basis points (bps). Notably, the reported figure came below our projection of 23% for the quarter. The decline was mainly due to decreased revenues per square foot and increased land costs year over year.
SG&amp;A expenses &mdash; as a percentage of home sales &mdash; decreased 30 bps to 6.7% due to a decrease in broker commissions and benefits of LEN&#39;s technology efforts.
Financial Services: The segment&#39;s revenues increased year over year to $273.3 million from $266.2 million for the reported quarter. Operating earnings for the quarter increased to $144.4 million from $149 million a year ago.
Lennar Multi-Family: Revenues of $93.4 million in the segment were down from $137.4 million in the prior-year quarter. The segment registered operating earnings of $78.9 million for the quarter against a loss of $8.7 million a year ago.
Lennar Other: The segment&#39;s revenues totaled $3.6 million, significantly down from $7.4 million a year ago. Its operating earnings were $20.1 million for the quarter against a loss of $26.2 million a year ago.
<h2>Financials</h2>
At the fiscal third-quarter end, Lennar had homebuilding cash and cash equivalents of $4.04 billion, down from $6.27 billion at the end of fiscal 2023. LEN has no outstanding borrowings under the $2.2 billion revolving credit facility, thereby providing $6.2 billion of liquidity.
The total homebuilding debt was $2.26 billion as of the fiscal third-quarter end, down from $2.82 billion at the fiscal 2023-end. Homebuilding debt to capital at the fiscal third-quarter end was 7.6%, down from 9.6% at the fiscal 2023-end.
LEN repurchased 3.4 million shares for $519 million in the fiscal third quarter.
<h2>Guidance</h2>
For fourth-quarter fiscal 2024, the company expects deliveries within 22,500-23,000 homes, depicting a fall from 23,795 homes delivered in the year-ago period. The company expects the ASP of the delivered units to be nearly $425,000, down from an ASP of $441,000 reported a year ago.
The gross margin on home sales is expected to be flat year over year. SG&amp;A expenses, as a percentage of home sales, are likely to be in the range of 6.7-6.8% for the quarter. In the prior year, gross margin was 24.2%, and SG&amp;A was 6.6%.
New orders are likely to be within 19,000-19,300 units, up from 17,366 homes reported a year ago.
Financial Services operating earnings are expected to be around $140 million, down from $168 million a year ago.
<h2>LEN&#39;s Zacks Rank &amp; Stocks to Consider</h2>
Lennar currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space are M/I Homes, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mho#NYSE">MHO</a>), Meritage Homes Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mth#NYSE">MTH</a>)&nbsp;and PulteGroup, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/phm#NYSE">PHM</a>). Each stock presently carries a Zacks Rank #2 (Buy).
M/I Homes is a Columbus, OH-based homebuilder that engages in the construction and sale of single-family residential homes.
MHO&#39;s EPS estimates for 2024 have increased to $19.76 from $19.58 over the past 30 days. The company&#39;s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed on one occasion, the average being 4.8%. MHO&#39;s earnings are expected to rise 21.9% year over year in 2024.
Meritage Homes is a Scottsdale, AZ-based company that designs and builds single-family attached and detached homes.
MTH&#39;s EPS estimates for 2024 have increased to $21.09 from $20.33 over the past 60 days. The company&#39;s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 21.5%. MTH&#39;s earnings are expected to rise 5.8% year over year in 2024.
PulteGroup is an Atlanta, GA-based homebuilder engaged in homebuilding and financial services businesses.
PHM&#39;s EPS estimates for 2024 have increased to $13.36 from $12.85 over the past 60 days. The company&#39;s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 10%. PHM&#39;s earnings are expected to rise 14% year over year in 2024.
<a href="https://www.zacks.com/stock/news/2339343/lennar-q3-earnings-revenues-beat-stock-down-on-tepid-q4-view?cid=CS-BENZ-FT-analyst_blog|earnings_article-2339343">To read this article on Zacks.com click here.</a>

Guidance

Markets

Lennar Q3 Earnings & Revenues Beat, Stock Down on Tepid Q4 View

GRBK

LGIH

LOVE

LSEA

ROCK

Shares of housing-related stocks are trading higher after the Fed policy decision to cut rates by 50 basis points, which could help curb housing unaffordability and increase demand.

Homebuilder stocks are <a href="https://www.benzinga.com/top-stories/24/08/40637013/homebuyers-turn-screws-on-builders-as-mortgage-rates-are-telegraphed-to-fall">on the rise </a>as the Federal Reserve is expected to cut rates later this week, mortgage rates are on the decline and Democratic presidential candidate, Vice President Kamala Harris, proposes a homeownership plan that involves building three million new homes.
The Fed is expected to lower its key interest rate by either <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40878710/investors-bet-on-50-basis-point-rate-cut-wall-street-analysts-urge-caution-this-is-">25 or 50 basis points </a>when it meets on Wednesday after holding back on doing so at its last meeting in July.
Mortgage rates have fallen to their lowest in <a href="https://www.benzinga.com/markets/24/09/40817001/mortgage-rates-fall-to-lowest-level-since-february-2023">more than 18 months</a>, according to the&nbsp;Mortgage Bankers Association&nbsp;(MBA). 
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.29 percent from 6.43 percent, marking several consecutive weeks of declining rates.
If elected president in November, Harris plans to launch a $25,000 credit for first-time homebuyers on buying a new home and an initiative to <a href="https://www.benzinga.com/trading-ideas/previews/24/08/40447261/toll-brothers-q3-earnings-preview-will-kamala-harris-3-million-homes-plan-boost-homebuilde">build three million new homes </a>in four years.
Truist Securities has raised its rating on Builders First Source, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>) from Hold to Buy and its price target from $165 to $220.
Read Also: <a href="https://www.benzinga.com/news/24/08/40507329/toll-brothers-to-rally-around-19-here-are-10-top-analyst-forecasts-for-thursday">Toll Brothers To Rally Around 19%? Here Are 10 Top Analyst Forecasts For Thursday</a>
Analyst Keith Hughes noted reduced mortgage rates and lower lumber prices in the short term and, in the long term, an upswing in multifamily housing construction and Builders&#8217; ability to offer value-added products and digital offerings due to its large size.
Also, many homeowners who locked in rates as low as 3% and 4% over the past two years are holding onto their homes instead of selling, increasing demand for new homes.
&#8220;Given the continued limited inventory, we believe this will continue for several more years with new homes taking an even greater share of the market,&#8221; he wrote in a note on Monday. &#8220;This is a notable catalyst for home builders and their suppliers such as BLDR.&#8221;
Price Action: Homebuilders have seen gains and losses into Monday&#8217;s early trading but have risen significantly over the past week.
<ul>
<li>Builders First Source was up 3.61% to $189.88 on Monday morning, posting a 12% gain since Tuesday.</li>
<li>Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) slipped 0.51% to $149.04 on Monday morning but has gained 6.1% since Tuesday.</li>
<li>M/I Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) declined 0.1% to $166.32 on Monday but has risen 5.6% since Tuesday.</li>
<li>Green Brick Partners, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRBK#NYSE">GRBK</a>) was up 0.70% to $79.35 on Monday, and has gone up 7% since Tuesday.</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40511410/toll-brothers-analysts-boost-their-forecasts-after-upbeat-earnings">Toll Brothers Analysts Boost Their Forecasts After Upbeat Earnings</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Government

Federal Reserve

Real Estate

Builders First Source, Other Homebuilder Stocks Rise With Catalysts Such As Mortgage Rates, The Fed, Kamala Harris Plan

Press Releases

M/I Homes, Inc. Announces First Quarter Earnings Webcast

M/I Homes Reports 2024 First Quarter Results

M/I Homes Announces $250 million Share Repurchase Authorization

M/I Homes, Inc. Announces Second Quarter Earnings Webcast

M/I Homes Reports 2024 Second Quarter Results

M/I Homes, Inc. Announces Third Quarter Earnings Webcast

M/I Homes Reports 2024 Third Quarter Results

M/I Homes, Inc. Announces Fourth Quarter and Year-End Earnings Webcast

M/I Homes Reports Fourth Quarter and Year-End Results

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Comments

M/I Homes

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