Zacks: Brokerages Anticipate M.D.C. Holdings, Inc. (MDC) Will Post Quarterly Sales of $597.88 Million
Wall Street brokerages expect M.D.C. Holdings, Inc. (NYSE:MDC) to announce sales of $597.88 million for the current quarter, according to Zacks. Four analysts have made estimates for M.D.C. Holdings’ earnings. The highest sales estimate is $600.20 million and the lowest is $595.30 million. M.D.C. Holdings posted sales of $595.42 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.4%. The firm is expected to issue its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that M.D.C. Holdings will report full year sales of $597.88 million for the current financial year, with estimates ranging from $2.55 billion to $2.62 billion. For the next year, analysts expect that the business will report sales of $2.78 billion per share, with estimates ranging from $2.67 billion to $2.84 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover M.D.C. Holdings.
M.D.C. Holdings (NYSE:MDC) last posted its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The company had revenue of $648.97 million during the quarter, compared to analysts’ expectations of $623.95 million. M.D.C. Holdings had a return on equity of 9.25% and a net margin of 4.76%. M.D.C. Holdings’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 EPS.
Several research analysts recently weighed in on MDC shares. Zacks Investment Research lowered M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Bank of America Corporation restated an “underperform” rating and set a $27.00 price target (up from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. BidaskClub upgraded M.D.C. Holdings from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. Deutsche Bank AG raised their price target on M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, KeyCorp restated a “hold” rating on shares of M.D.C. Holdings in a research report on Friday, August 25th. Four equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. M.D.C. Holdings has an average rating of “Hold” and a consensus price target of $31.20.
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Shares of M.D.C. Holdings (NYSE MDC) opened at 32.12 on Friday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.61 and a beta of 1.35. M.D.C. Holdings has a 12 month low of $22.31 and a 12 month high of $36.92. The firm’s 50-day moving average price is $32.18 and its 200-day moving average price is $32.71.
In related news, Director David E. Blackford sold 26,250 shares of M.D.C. Holdings stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $36.11, for a total value of $947,887.50. Following the completion of the transaction, the director now directly owns 40,928 shares in the company, valued at $1,477,910.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 25.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in MDC. Great West Life Assurance Co. Can boosted its holdings in M.D.C. Holdings by 8.9% in the first quarter. Great West Life Assurance Co. Can now owns 58,350 shares of the construction company’s stock valued at $1,752,000 after purchasing an additional 4,781 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in M.D.C. Holdings by 18.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,039 shares of the construction company’s stock valued at $1,113,000 after purchasing an additional 5,783 shares during the period. Bank of New York Mellon Corp boosted its holdings in M.D.C. Holdings by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 1,018,777 shares of the construction company’s stock valued at $30,614,000 after purchasing an additional 48,769 shares during the period. Swiss National Bank boosted its holdings in M.D.C. Holdings by 3.0% in the first quarter. Swiss National Bank now owns 67,835 shares of the construction company’s stock valued at $2,038,000 after purchasing an additional 2,000 shares during the period. Finally, Karp Capital Management Corp purchased a new position in M.D.C. Holdings in the first quarter valued at $680,000. Hedge funds and other institutional investors own 81.62% of the company’s stock.
M.D.C. Holdings Company Profile
M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.
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