Ultime notizie per M/I Homes (NYSE:MHO) Azioni

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 the most significant portion of the revenue. The company builds homes and communities that target entry-level, move-up, and luxury homebuyers.

M/I Homes Inc

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

WIIM

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.

News

Upgrades

Price Target

Analyst Ratings

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

Macro Economic Events

Macro Notification

Econ #s

Economics

General

MDCE

TMHC

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

Earnings

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.

Earnings Beats

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

BLDR

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

M/I Homes (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mho#NYSE">MHO</a>) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
A company&#39;s changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for M/I Homes is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
<h2>Most Powerful Force Impacting Stock Prices</h2>
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That&#39;s partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for M/I Homes imply an improvement in the company&#39;s underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
<h2>Harnessing the Power of Earnings Estimate Revisions</h2>
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
<h2>Earnings Estimate Revisions for M/I Homes</h2>
For the fiscal year ending December 2024, this homebuilder is expected to earn $19.76 per share, which is a change of 21.9% from the year-ago reported number.
Analysts have been steadily raising their estimates for M/I Homes. Over the past three months, the Zacks Consensus Estimate for the company has increased 8.7%.
<h2>Bottom Line</h2>
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of M/I Homes to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2333009/all-you-need-to-know-about-m-i-homes-mho-rating-upgrade-to-strong-buy?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2333009">To read this article on Zacks.com click here.</a>

Mid Cap

All You Need to Know About M/I Homes Rating Upgrade to Strong Buy

Seaport Global analyst Kenneth Zener initiates coverage on M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) with a Neutral rating.

Initiation

Seaport Global Initiates Coverage On M/I Homes with Neutral Rating

CVCO

Shares of household durable companies are trading higher following strong New Home Sales economic data for July. Also, the sector may be moving in sympathy with the market after Fed Chair Powell offered an optimistic U.S. economic outlook and indicated future rate cuts.

Altair Engineering Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/altr#NASDAQ">ALTR</a>) has entered into a joint development agreement with Oasys, the software house of Arup, to offer an integrated solution for safety simulation modeling.
This collaborative approach will provide access to a combined service platform, comprising Altair HyperWorks and Oasys PRIMER, to the automotive market for offering customers an advanced solution for safety modeling. This amalgamated platform is accessible through the Altair HyperWorks environment, through which engineers will be able to prepare data for crash simulations.
Altair HyperWorks is powered by AI-augmented 3D modeling and visualization tools, along with next-gen design and optimization workflows. This aids the users in effortlessly managing large and complex models, unveiling critical insights, optimizing designs and fostering innovation. On the other hand, the Oasys PRIMER is a top-tier product, used for the preparation and modification of crash safety analysis models.
<h2>Altair HyperWorks Revolutionizing Growth</h2>
Altair officially announced the launch of Altair HyperWorks 2024 on Jul 10, 2024, highlighting it to be the sole platform offering a unified, modern user experience across any geometry, physics and complexity and at every stage of the product development life cycle from design to in-service. The launch of this design and simulation platform solidified the company&#39;s platform status as a leading AI-powered simulation-driven innovator.
Altair is also engaging in various investment opportunities to enhance the HyperWorks platform and foster its growth prospects in the process. In April 2024, the company acquired Research in Flight, which offers computational fluid dynamics software with a large footprint in the aerospace and defense sector and a growing presence in marine, energy, turbomachinery and automotive applications. The technology is being integrated into the Altair HyperWorks design and simulation platform.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/5a/75090.jpg?v=143642413" />
Image Source: Zacks Investment Research
The company is outpacing the industry, which primarily revolves around AI-embedded workflows, thanks to its continuous approach toward innovation and enhancements of its already available service platforms. Owing to the improving trends, shares of this American multinational information technology company gained 40.6% in the past year, outperforming the Zacks Engineering - R and D Services industry&#39;s 38.5% growth.
<h2>Zacks Rank &amp; Key Picks</h2>
Altair currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Construction sector.
Comfort Systems USA, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fix#NYSE">FIX</a>) currently sports a Zacks Rank #1 (Strong Buy).
FIX delivered a trailing four-quarter earnings surprise of 20.6%, on average. The stock has risen 88.8% in the past year. The Zacks Consensus Estimate for FIX&#39;s 2024 sales and earnings per share&nbsp;indicates growth of 29.4% and 50.9%, respectively, from the prior-year levels.
M/I Homes, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mho#NYSE">MHO</a>) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 4.8%, on average. Shares of MHO have gained 65.7% in the past year.
The consensus estimate for MHO&#39;s 2024 sales and EPS implies increases of 9.4% and 20.8%, respectively, from the prior-year levels.
Howmet Aerospace Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hwm#NYSE">HWM</a>) presently sports a Zacks Rank of 1. HWM delivered a trailing four-quarter earnings surprise of 10.9%, on average. The stock has surged 96.3% in the past year.
The Zacks Consensus Estimate for HWM&#39;s 2024 sales and EPS indicates increases of 12.6% and 39.1%, respectively, from a year ago.
<a href="https://www.zacks.com/stock/news/2325848/altair-altr-oasys-to-offer-enhanced-safety-modeling-solutions?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2325848">To read this article on Zacks.com click here.</a>

Large Cap

Offerings

Tech

ALTR

Altair & Oasys to Offer Enhanced Safety Modeling Solutions

Shares of homebuilders are trading higher in sympathy with Toll Brothers, which reported better-than-expected Q3 financial results and issued guidance above estimates.

The primary focus of Otis Worldwide Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/otis#NYSE">OTIS</a>) has been seeking innovation opportunities and making strategic investments in them to foster its growth. Keeping up with this focal aspect, the Thailand subsidiary of Otis has recently disclosed its Gen3-connected elevator platform in Bangkok.
<h3>Appealing Aspects of the Gen3 Elevator</h3>
Built upon the breakthrough designs of the Gen2 family of elevators, this new addition houses the Otis ONE IoT digital platform, thus enabling it to proactively communicate by monitoring equipment health and performance round-the-clock in real time. The new innovative elevator model will also ensure the safety of the riders due to the visibility of equipment health through remote intervention from Otis professionals by identifying potential issues or other maintenance requirements.
The availability of machine room and machine room-less options makes it flexible enough to adjust to a wide range of building uses, including residential, commercial, hospitality, medical and industrial.
The combination of various solutions, including Cloud-based APIs, the Otis eView in-car display, compass 360 intelligent dispatching technology and the Otis eCall Plus app, will make advanced passenger experiences possible. Furthermore, the inclusion of the Otis ReGen drive, LED lighting and sleep mode will ensure the reduction of energy usage and the elevator&#39;s carbon footprint.
Additionally, the company&#39;s signature Ambiance cab design, Otis PURE elevator control panel and the Otis Cab Air Purifier will add a modern touch to the new elevator model, alongside enhancing the health and well-being of its passengers.
<h3>Innovation Driving Growth</h3>
Otis seems to be on a research and development (R&amp;D) investment spree. It invested $144 million in R&amp;D in 2023. Furthermore, during the first six months of 2024, it invested $75 million in R&amp;D, up 5.6% year over year. The year-over-year increase in R&amp;D investments showcases the company&#39;s intent focus on amalgamating recent technologies into its products to stay well-positioned in the market.
As of 2023-end, it had 11 R&amp;D centers and 17 factories across the world, primarily in China, India, Japan, France, Germany, Spain and the United States. These centers are strategically placed to enable the efficient development of engineering solutions. Also, the company&#39;s approximately 1,200 global engineers focus intently on digital initiatives, software, design user interfaces, and experience.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f8/74610.jpg?v=1875172869" />
Image Source: Zacks Investment Research
Shares of this leading manufacturer of elevators, escalators, and moving walkways have gained 1.2% in the past six months compared with the Zacks Building Products - Miscellaneous industry&#39;s 4.2% growth. Although the company&#39;s shares have underperformed the industry, it intends to continue innovating and expanding the digital ecosystem and suite of digital solutions to foster its prospects in the upcoming period.
<h3>Zacks Rank &amp; Key Picks</h3>
Otis currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Construction sector.
Comfort Systems USA, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fix#NYSE">FIX</a>) currently sports a Zacks Rank #1 (Strong Buy).
FIX delivered a trailing four-quarter earnings surprise of 20.6%, on average. The stock has risen 33.9% in the past six months. The Zacks Consensus Estimate for FIX&#39;s 2024 sales and earnings per share indicates growth of 29.4% and 50.9%, respectively, from the prior-year reported levels.
M/I Homes, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mho#NYSE">MHO</a>) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 4.8%, on average. Shares of MHO have gained 22.7% in the past six months.
The consensus estimate for MHO&#39;s 2024 sales and EPS implies increases of 9.4% and 20.8%, respectively, from the prior-year reported levels.
Sterling Infrastructure, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/strl#NASDAQ">STRL</a>) presently sports a Zacks Rank of 1. STRL delivered a trailing four-quarter earnings surprise of 17.4%, on average. The stock has risen 36.3% in the past six months.
The Zacks Consensus Estimate for STRL&#39;s 2024 sales and EPS indicates increases of 9.7% and 26.6%, respectively, from a year ago.
<a href="https://www.zacks.com/stock/news/2323841/otis-expands-product-offering-with-new-gen3-elevator-platform?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2323841">To read this article on Zacks.com click here.</a>

OTIS

STRL

OTIS Expands Product Offering With New Gen3 Elevator Platform

The housing market is in flux, with home prices at record highs amid a demand and supply imbalance. Elevated mortgage rates – seen as a function of <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40365730/july-inflation-rate-falls-more-than-expected-supports-hopes-for-large-fed-rate-cu">interest rates at a 22-year high</a> and inflation, which is eating away into disposable income – are constraining purchases. In the wake of all this, NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) CEO John Ketchum recently lauded Florida as a thriving market for housing as well as commercial and industrial construction.
The Florida Housing Market: The Sunshine State has the distinction of being the biggest housing market in the country. Despite California having the twice as many residents, Florida has nearly double the number of home listings, <a href="https://www.realtor.com/news/trends/florida-housing-market-condos-home-prices-coast-inland/">said</a> Realtor.com in a recent report. It is a bellwether state &#8220;consistently attracting people from around the globe due to its significant tax advantages, perfect weather, and booming economy,&#8221;  Jenny Lenz, the managing director of Dolly Lenz Real Estate, told the website.
The report characterized the housing market in the state as split, with condominium prices on the coasts falling due to high insurance costs and assessment fees, while single-family home cost remained steady inland.
Recent data from Redfin showed that the median sale price of a home in Florida rose 2.3% year-over-year to $419,200, lower than the nationwide median price of $426,900. Although marking a decline from the April 2024 peak, home prices are still near the record levels, the real-estate company said. That said, the number of homes sold fell 14.1%, while inventory rose 16%.
While all roads led to Florida following the pandemic due to the state&#8217;s pulling points, things are changing now, a U.S. News report <a href="https://realestate.usnews.com/real-estate/articles/is-floridas-housing-market-in-trouble">said</a>. The deterrents are the expensive homeowner&#8217;s insurance due to hurricane threat in the state, higher home prices and the increase in property taxes.
See Also: <a href="https://www.benzinga.com/money/best-real-estate-stocks-right-now">Best Real Estate Stocks Right Now</a>
Commercial Real Estate &#8211; Risks &amp; Opportunities: After a tough year in 2023, the commercial real estate market nationwide is expected to bounce back this year as the Fed is widely expected to cut rates this year.
A report from the National Association of Realtors <a href="http://www.nar.realtor/sites/default/files/documents/2024-03-commercial-real-estate-market-insights-03-26-2024.pdf">noted</a> a troubled office sector, with falling lending activity and rising office availability and delinquencies. The office vacancy rate nationwide rose to a new record of 13.8% in February, it said. Leasing activity, a proxy for demand and interest, has dropped about 50 percentage points below pre-pandemic levels. Among other commercial real estate segments, multi-family was recovering from lows, retail spaces continued to slowdown and the industrial segment is showing signs of a slowdown.
NAR&#8217;s report flagged a sharp increase in rent for industrial spaces in Florida cities such as Orlando, Jacksonville and Tampa, with the spike attributed to strong demand for warehouse properties. The increases are in the magnitude of 10% from last year, it said.
That said, there is a looming risk. The low financing costs buyers are availing now could soon become a thing of the past, <a href="https://www.godfreylegal.com/what-2024-will-bring-for-commercial-real-estate-in-florida/#:~:text=2024%20will%20not%20be%20all,soon%20come%20to%20an%20end.">said</a> Godfrey Legal. It reasoned that many loans on commercial properties will mature later this year and in the upcoming year, with about $1.5 trillion in commercial real estate debt maturing. The terms of fresh loans or refinancing will likely be tougher, 
Corporates Make Beeline To Florida: Companies, especially big techs, which typically are based out of either the Silicon Valley or New York, are looking toward Florida, with many already having made the move. Ken Griffin's Citadel and Citadel Securities have permanently moved their headquarters to Miami. Amazon founder Jeff Bezos has shifted base out of Seattle to Florida, citing the need to be near his space venture Blue Origin.
Defense contractor Lockheed Martin has relocated its Space division headquarters to Titusville, Florida. JPMorgan has doubled down its presence in the state. <a href="https://www.benzinga.com/markets/equities/24/06/39457393/what-going-on-with-jp-morgan-shares-today">The big bank said in June that its downtown Miami office will double in size</a> from 80,000 square feet to 160,000 square feet in part to accommodate 400 additional employees. &#8220;Miami and South Florida are home to an increasing number of our clients, customers, community partners and employees, and a strategic location for our operations in Latin America as well,&#8221; said Jonathan Bello, head of Chase for Business Miami.
Florida is the fourth biggest state in terms of GDP, according to Bureau of Economic Analysis. The state also boasts of the highest population growth and it attracts remote workers due to the low cost of living, especially in northeast Florida, <a href="https://www.forbes.com/councils/forbesbusinesscouncil/2022/06/22/three-reasons-why-my-company-is-moving-to-florida/">said </a>Forbes contributor Gilda D&#8217;Incerti.
Potential Beneficiaries: With industry players and watchers betting on Florida&#8217;s housing and commercial real estate markets, real estate and utility companies operating in the state stand to gain big. Commercial real estate services and investment&nbsp;company, CBRE Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>), Jones Lang LaSalle Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JLL#NYSE">JLL</a>) and Cushman &amp; Wakefield plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWK#NYSE">CWK</a>), homebuilder Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) and M/I Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>), LGI Homes, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>) and Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>) have big presence in the state.
Among utility companies operating in Florida are NextEra and Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>).
Read Next: 
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<li><a href="https://www.benzinga.com/real-estate/24/08/40431571/florida-and-texas-could-reap-huge-benefits-if-harris-wins-according-to-grant-cardone-they-protect-th">Florida And Texas Could Reap Huge Benefits If Harris Wins, According To Grant Cardone. &#8216;They Protect The Property Owner&#8217;</a></li>
</ul>

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NextEra CEO Talks Up Florida Property Market: A Sunshine State Ray Of Hope?

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Shares of household durable companies are trading lower amid overall market weakness on US economic concerns.

Raymond James analyst Buck Horne maintains M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) with a Strong Buy and raises the price target from $200 to $210.

Raymond James Maintains Strong Buy on M/I Homes, Raises Price Target to $210

M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) reported quarterly earnings of $5.12 per share which beat the analyst consensus estimate of $4.59 by 11.55 percent. The company reported quarterly sales of $1.100 billion which beat the analyst consensus estimate of $1.057 billion by 4.04 percent. This is a 8.48 percent increase over sales of $1.014 billion the same period last year.

M/I Homes Q2 2024 GAAP EPS $5.12 Beats $4.59 Estimate, Sales $1.1B Beat $1.057B Estimate

M/I Homes GAAP EPS of $5.10 beats by $0.24, revenue of $1.14B beats by $10M

Reports Q3 revenue $1.1B, consensus $1.12B. Robert H. Schottenstein, CEO and President, commented, "We had a very strong Q3, highlighted by record ...

M/I Homes reports Q3 EPS $5.10, consensus $4.94

M/I Homes, Inc. (MHO) Q3 2024 Earnings Call Transcript

M/I Homes Inc ( ($MHO) ) has realeased its Q3 earnings. Here is a breakdown of the information M/I Homes Inc presented to its investors. M/I Homes,...

M/I Homes Achieves Record Third Quarter Results

NVR's (NVR) third-quarter results exhibited solid revenue growth and increasing orders. The company's long-term prospects appear bright with a rapidly growing population and steady financial performance. So, let's analyze whether this is the homebuilder's stock to buy now. Read more to find out... NVR, Inc. (<a href="https://stocknews.com/stock/NVR/">NVR</a>) is one of the largest homebuilding and mortgage banking companies in the U.S. The company operates through its Homebuilding and Mortgage Banking segments and engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under names like Ryan Homes, NVHomes, and Heartland Homes.
The company recently reported its third-quarter financial results. The company's revenues from the Homebuilding segment marked strong growth of 6.6% year-over-year to $2.68 billion. Its consolidated revenues for the nine months that ended September 30, 2024, were $7.68 billion, up 8% from the same period of 2023.
During the third quarter, NVR's new orders increased by 19% to 5,650 units, compared to 4,746 units in the third quarter of 2023, and the average sales price of new orders was $450,700. Further, settlements in the third quarter increased 5% to 5,908 units, from 5,606 units in the prior-year quarter, where the average settlement price was $453,200, up 1% year-over-year.
In September, the <a href="https://www.reuters.com/markets/us/us-single-family-homebuilding-rises-five-month-high-2024-10-18/">U.S. single-family homebuilding surged at 2.7%</a>, marking its five-month high, and building permits for single-family housing were also up. Also, the <a href="https://www.reuters.com/markets/us/us-home-builder-confidence-rises-second-straight-month-2024-10-17/">NAHB/Wells Fargo Housing Market Index</a> surged to 43 in the current month from 41 in September, indicating increasing confidence in the U.S. home builders.
Also, rapid global population growth, economic growth, and increasing disposable income of consumers are surging activities like acquisition and development of land, and construction and sale of residential homes. The residential building construction market is expected to reach around <a href="https://www.thebusinessresearchcompany.com/report/residential-building-construction-global-market-report">$5.80 trillion by 2028</a>, growing at a CAGR of 5.8%.
Moreover, the recently announced fed rate cuts will benefit the homebuilding sector and operations of NVR since prospective buyers who have been holding out for lower mortgage rates will now become active. This will also strengthen the company's market position and competitiveness.
Shares of NVR have gained 20.9% over the past six months and 71.4% over the past year to close its last trading session at $9438.35.
Let's look at factors that could influence NVR's performance in the upcoming months.
Recent Developments
On April 25, NVR signed an agreement with La Cité Development, a leading real estate development corporation, to address much-needed housing solutions by adding 180 units of single-family homes to a large-scale redevelopment of 32.94 acres in Poppleton, West Baltimore, for approximately $800 million.
This mixed-income development, representing an investment of $60 million, will consist of 48 condo units and 132 townhomes on seven acres.
Robust Financials
For the third quarter that ended September 30, 2024, NVR's Homebuilding revenues increased 6.6% year-over-year to $2.68 billion and its Mortgage banking fees were $55.31 million. Also, the company's homebuilding operating income grew marginally from the year-ago value to $510.52 million.
Furthermore, the company's net income and EPS came in at $429.32 million and $130.50 for the quarter, respectively.
As of September 30, 2024, NVR's cash and cash equivalents and total assets stood at $2.47 billion and $6.49 billion, respectively.
Solid Historical Growth
NVR's revenue grew at a CAGR of 4.2% over the past three years, while its EBITDA improved at a CAGR of 8.5%. Its <a href="https://www.investopedia.com/terms/e/ebit.asp">EBIT</a> increased at a CAGR of 8.7% over the same period, while the company's net income and EPS grew at respective CAGRs of 10.6% and 16.6% over the same time frame.
Furthermore, the company's tangible book value and levered free cash flow have grown at CAGRs of 12.5% and 24.3% over the past three years, respectively.
Favorable Analyst Estimates
Analysts expect NVR's revenue for the fourth quarter (ending December 2024) to come in at $2.83 billion, indicating an increase of 18.4% year-over-year, and its consensus EPS is expected to improve 8.4% year-over-year to $131.73 for the same period.
For the fiscal year (ending December 2024), the company's revenue is anticipated to grow 11.6% year-over-year to $10.40 billion, while its EPS is expected to grow 7.2% year-over-year to $496.77. Further, street expects NVR's revenue and EPS to grow 4.5% and 5.8% year-over-year to $10.86 billion and $525.64 for the fiscal year 2025, respectively.
Favorable Profitability
NVR's trailing-12-month EBIT margin of 19.98% is 149.3% higher than the 8.01% industry average. The stock's trailing-12-month net income margin of 15.90% is significantly higher than the industry average of 4.50%. And the stock's trailing-12-month levered FCF margin of 12.54% is 153.2% higher than the industry average of 4.95%.
Furthermore, the stock's ROCE, ROTC, and ROTA of 38.72%, 24.47%, and 25.19% favorably compares to the 11.37%, 6.18%, and 4.03% industry average, respectively.
POWR Ratings Appear Optimistic
NVR's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, translating to a Buy in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. NVR has an A grade for Momentum. The stock is trading above its 50-day and 200-day moving averages of $9,340.39 and $8,102.13, respectively.
The stock also has a B grade for Quality, consistent with its higher-than-industry profitability.
NVR is ranked #4 among the 22 stocks in the <a href="https://stocknews.com/category/homebuilders/">Homebuilders</a> industry.
Beyond what I have stated above, we have also given NVR grades for Stability, Growth, Sentiment, and Value. Get access to all the NVR ratings <a href="https://stocknews.com/stock/NVR/">here</a>.
Bottom Line
NVR reported better-than-expected earnings in the third quarter of fiscal 2024. Further, the company's long-term prospects appear promising, driven by its expanding product offerings, economic growth, and favorable government initiatives.
Given NVR's solid revenue growth, promising analysts' expectations, and favorable profitability, supported by the surrounding environment and widening avenues, it could be ideal to invest in this stock.
How Does NVR Inc. (NVR) Stack Up Against Its Peers?
While NVR has an overall POWR Rating of B, investors could also check out these other stocks within the <a href="https://stocknews.com/category/homebuilders/">Homebuilders</a> industry with A (Strong Buy) or B (Buy) ratings: M/I Homes, Inc. (<a href="https://stocknews.com/stock/MHO/">MHO</a>), Sekisui House Ltd. ADR (<a href="https://stocknews.com/stock/SKHSY/">SKHSY</a>), and TRI Pointe Group, Inc. (<a href="https://stocknews.com/stock/TPH/">TPH</a>).
For exploring more A and B-rated homebuilders stocks, <a href="https://stocknews.com/category/homebuilders/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
NVR shares were unchanged in after-hours trading Wednesday. Year-to-date, NVR has gained 34.44%, versus a 22.75% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/nvr-mho-skhsy-tph-is-now-the-time-to-buy-shares-of-nvr-as/>Is Now the Time to Buy Shares of NVR as Homebuilding Stocks Recover?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Now the Time to Buy Shares of NVR as Homebuilding Stocks Recover?

M/I Homes: Riding The Housing Rebound With Strong Earnings And Growth Outlook

As previously reported, Wedbush upgraded M/I Homes (MHO) to Outperform from Neutral with a price target of $185, up from $155, following quarterly ...

Wedbush upgrades M/I Homes to Outperform, raises price target to $185

Wedbush upgraded M/I Homes (MHO) to Outperform from Neutral with an $185 price target Published first on TheFly – the ultimate source for real-time...

M/I Homes upgraded to Outperform from Neutral at Wedbush

M/I Homes upgraded at Wedbush on better-than-expected business activity

SKHSY

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

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

Arkhouse Nominates Nine Highly Qualified, Independent Candidates for Election to Macy's Board of Directors

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

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