Quick Win By The Algorithm

On October 16th, 2017, I Know First issued a bullish 14 day forecast for M/I Homes, Inc. (NYSE: MHO). The forecast showed a signal of 14.46 and a predictability of 0.15. In accordance with the forecast, MHO’s stock returned 16.78% over this period, solidifying another quick win by the I Know First algorithm.The principal catalyst for the stock’s run-up was their third quarter earnings announcement.  Needless to say, the results were positive.  Earnings increased 82% year-over-year.  Also, the company’s major operating metrics were favorable, with new order growth outpacing completion growth, higher average selling prices, and a strong backlog.

M/I Homes, Inc., together with its subsidiaries, operates as a builder of single-family homes. The company operates through Midwest Homebuilding, Southern Homebuilding, Mid-Atlantic Homebuilding, and Financial Services segments. It designs, constructs, markets, and sells single-family homes and attached townhomes to first-time, move-up, empty-nester, and luxury buyers.  The company also purchases undeveloped land to develop into developed lots of single-family homes, as well as for sale to others. In addition, it originates and sells mortgages; and serves as a title insurance agent by providing title insurance policies, examination, and closing services to purchasers of its homes. M/I Homes, Inc. operates in Ohio, Indiana, Illinois, Minnesota, Maryland, Virginia, North Carolina, Florida, and Texas, the United States. The company was formerly known as M/I Schottenstein Homes, Inc. and changed its name to M/I Homes, Inc. in January 2004. M/I Homes, Inc. was incorporated in 1973 and is based in Columbus, Ohio.

Current I Know First subscribers received this bullish MHO forecast on October 16th, 2017. 

Disclaimer

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.