MHO Big jump at the open was quickly erased and the entire sector is down due to that disappointing new home sales report from the census bureau. I've always questioned the reliability of that report. It is very volatile from month to month but even more, it partly relies on voluntary reporting from builders. It reports when contracts to buy are written, not when the sale is closed.
I'm more interested in hearing what the builders say when they report their earnings and say in their CCs. MHO's CC is after the close. TPH, DHI, and PHM all report in the next day or so.
CEO's comments in MHO's ER also sound positive to me. Doesn't matter right now though as twitchy investors fingers are hitting the sell button.:
Mr. Schottenstein continued, "We ended the quarter with record-high shareholders' equity of $816 million, an increase of 18% from 2017's second quarter, book value per share of $28.56, and a homebuilding debt to capital ratio of 47%. With the strength of our backlog and planned new community openings, we are positioned to have a very good 2018. We will continue to focus on increasing profitability, growing our market share, and investing in attractive land opportunities."