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$17.75 -1.76 (-9.02%)
10/6/2008 4:05 PM

M/I Homes, Inc. (MHO)

CAPS Rating:
*

The Company designs, sells and builds single-family homes on finished lots, which it develops or purchases ready for home construction.

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Avatar NeroSagetrade (52.11) Submitted: 12/12/07 11:09 PM : Underperform Start Price: $10.98 MHO Score: -91.09

M/I Homes has fallen 75% from its highs set earlier in the year and it looks probable that it could fall another 75% from these levels. I couldn't believe when i pulled up the balance sheet and saw nearly 500M in debt and just 3M in cash. The losses here are more than doubling every quarter and their cancellation rates seem to be going up faster than even the worst of the worst homebuilders. Their paltry dividend will be cancelled any day now in order to conserve cash. Technically this is a mess with $3 providing the only long-term support. Let the free fall continue!





Nero


Sagetrade

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