Equities research analysts expect M.D.C. Holdings, Inc. (NYSE:MDC) to post sales of $837.35 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for M.D.C.’s earnings. The lowest sales estimate is $819.00 million and the highest is $857.80 million. M.D.C. reported sales of $724.11 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The firm is expected to issue its next quarterly earnings results on Thursday, February 7th.
On average, analysts expect that M.D.C. will report full year sales of $3.02 billion for the current financial year, with estimates ranging from $3.00 billion to $3.04 billion. For the next year, analysts expect that the company will post sales of $3.12 billion, with estimates ranging from $2.93 billion to $3.40 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover M.D.C..
M.D.C. (NYSE:MDC) last announced its earnings results on Thursday, November 1st. The construction company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.02). The business had revenue of $766.03 million for the quarter, compared to analyst estimates of $778.62 million. M.D.C. had a return on equity of 12.96% and a net margin of 6.21%. The company’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share.
Several research analysts recently commented on MDC shares. Bank of America raised M.D.C. from an “underperform” rating to a “buy” rating and increased their price objective for the company from $36.00 to $42.00 in a research note on Thursday, August 2nd. Zacks Investment Research raised M.D.C. from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Tuesday, August 7th. ValuEngine raised M.D.C. from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. JPMorgan Chase & Co. raised M.D.C. from an “underweight” rating to a “neutral” rating and set a $36.00 price objective for the company in a research note on Friday, July 13th. Finally, Wedbush reduced their price objective on M.D.C. from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $33.71.
NYSE MDC traded down $0.14 during mid-day trading on Wednesday, hitting $28.73. The stock had a trading volume of 492,909 shares, compared to its average volume of 586,247. M.D.C. has a twelve month low of $25.14 and a twelve month high of $36.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.45 and a current ratio of 9.55. The company has a market cap of $1.66 billion, a P/E ratio of 11.14, a P/E/G ratio of 0.43 and a beta of 1.40.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.18%. The ex-dividend date is Tuesday, November 6th. M.D.C.’s dividend payout ratio is currently 46.51%.
In other M.D.C. news, Director Michael A. Berman sold 20,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $32.67, for a total value of $653,400.00. Following the completion of the sale, the director now directly owns 131,867 shares in the company, valued at approximately $4,308,094.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Larry A. Mizel sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $33.15, for a total value of $331,500.00. Following the completion of the sale, the chairman now owns 121,867 shares of the company’s stock, valued at $4,039,891.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock valued at $1,637,300. 27.00% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in M.D.C. by 8.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 20,741 shares of the construction company’s stock valued at $639,000 after buying an additional 1,661 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of M.D.C. by 5.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 34,766 shares of the construction company’s stock worth $1,070,000 after purchasing an additional 1,800 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of M.D.C. by 4.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 42,127 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 1,800 shares during the period. American Century Companies Inc. grew its holdings in shares of M.D.C. by 1.3% during the 3rd quarter. American Century Companies Inc. now owns 143,638 shares of the construction company’s stock worth $4,249,000 after purchasing an additional 1,906 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of M.D.C. by 11.7% during the 1st quarter. Royal Bank of Canada now owns 19,791 shares of the construction company’s stock worth $553,000 after purchasing an additional 2,073 shares during the period. Institutional investors own 77.55% of the company’s stock.
M.D.C. Company Profile
M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.
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