MHO having a rough day after reporting a miss in earnings and revs. The company earned $3.03 in Q3 which is often reported as a 44c miss. However, that number includes a 24c expense on an early retirement of debt. A 7% drop in SP today sure seems like a big over-reaction, especially considering they are now at a PE of only 5 with a good outlook.
TMHC, another builder, reported a 14c beat and is up about 9% today.
Moral of this story: Forget fundamentals and outlook. If a company misses analyst estimates, then dump it. If a company reports a beat to analyst estimates, buy, buy, buy.
