Analysts Anticipate M.D.C. Holdings, Inc. (MDC) Will Announce Quarterly Sales of $593.09 Million
Equities research analysts expect M.D.C. Holdings, Inc. (NYSE:MDC) to post $593.09 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for M.D.C. Holdings’ earnings, with estimates ranging from $583.78 million to $600.20 million. M.D.C. Holdings reported sales of $595.42 million during the same quarter last year, which indicates a negative year over year growth rate of 0.4%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that M.D.C. Holdings will report full-year sales of $593.09 million for the current financial year, with estimates ranging from $2.55 billion to $2.63 billion. For the next year, analysts expect that the business will report sales of $2.79 billion per share, with estimates ranging from $2.67 billion to $2.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for M.D.C. Holdings.
M.D.C. Holdings (NYSE:MDC) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.61 by $0.03. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The firm had revenue of $648.97 million for the quarter, compared to analyst estimates of $623.95 million. During the same period in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of M.D.C. Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. KeyCorp restated a “hold” rating on shares of M.D.C. Holdings in a report on Tuesday, September 26th. Wells Fargo & Company upgraded shares of M.D.C. Holdings from an “underperform” rating to a “market perform” rating and set a $30.00 target price for the company in a report on Wednesday, August 30th. They noted that the move was a valuation call. BidaskClub downgraded shares of M.D.C. Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Finally, Deutsche Bank AG boosted their target price on shares of M.D.C. Holdings from $27.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $29.00.
In related news, Director David E. Blackford sold 26,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total value of $947,887.50. Following the completion of the sale, the director now directly owns 40,928 shares in the company, valued at $1,477,910.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 25.30% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDC. BlackRock Inc. grew its stake in M.D.C. Holdings by 61,394.6% during the first quarter. BlackRock Inc. now owns 5,836,452 shares of the construction company’s stock worth $175,386,000 after buying an additional 5,826,961 shares during the period. Vanguard Group Inc. grew its stake in M.D.C. Holdings by 14.8% during the second quarter. Vanguard Group Inc. now owns 4,347,875 shares of the construction company’s stock worth $153,611,000 after buying an additional 561,481 shares during the period. Koch Industries Inc. purchased a new stake in M.D.C. Holdings during the second quarter worth approximately $342,000. State Street Corp grew its stake in M.D.C. Holdings by 19.8% during the first quarter. State Street Corp now owns 1,494,833 shares of the construction company’s stock worth $44,919,000 after buying an additional 247,408 shares during the period. Finally, Federated Investors Inc. PA grew its stake in M.D.C. Holdings by 80,713.5% during the second quarter. Federated Investors Inc. PA now owns 244,865 shares of the construction company’s stock worth $8,651,000 after buying an additional 244,562 shares during the period. Institutional investors own 81.62% of the company’s stock.
M.D.C. Holdings (MDC) opened at 35.61 on Thursday. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.09 and a beta of 1.34. The stock has a 50 day moving average of $32.25 and a 200 day moving average of $33.10. M.D.C. Holdings has a one year low of $21.25 and a one year high of $36.92.
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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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