M.D.C. Holdings, Inc. (MDC) Expected to Announce Quarterly Sales of $718.94 Million

Equities research analysts expect M.D.C. Holdings, Inc. (NYSE:MDC) to post sales of $718.94 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for M.D.C.’s earnings, with the lowest sales estimate coming in at $706.00 million and the highest estimate coming in at $745.00 million. M.D.C. reported sales of $736.33 million in the same quarter last year, which indicates a negative year over year growth rate of 2.4%. The business is scheduled to report its next earnings report before the market opens on Thursday, February 1st.

According to Zacks, analysts expect that M.D.C. will report full-year sales of $718.94 million for the current financial year, with estimates ranging from $2.56 billion to $2.59 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.83 billion per share, with estimates ranging from $2.71 billion to $2.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover M.D.C..

M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Thursday, November 2nd. The construction company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.55. The business had revenue of $586.30 million during the quarter, compared to analyst estimates of $595.05 million. M.D.C. had a net margin of 6.09% and a return on equity of 11.66%. M.D.C.’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share.

A number of brokerages recently weighed in on MDC. UBS Group reissued a “sell” rating and issued a $32.00 price target (up previously from $30.00) on shares of M.D.C. in a report on Wednesday, January 17th. Citigroup lowered their price target on shares of M.D.C. from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. ValuEngine lowered shares of M.D.C. from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research raised shares of M.D.C. from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. M.D.C. has an average rating of “Hold” and an average price target of $30.33.

In other M.D.C. news, Director Herbert T. Buchwald sold 28,350 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $31.52, for a total value of $893,592.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Siegel sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $31.83, for a total transaction of $79,575.00. The disclosure for this sale can be found here. 25.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in MDC. Vanguard Group Inc. boosted its stake in M.D.C. by 14.8% in the second quarter. Vanguard Group Inc. now owns 4,347,875 shares of the construction company’s stock valued at $153,611,000 after acquiring an additional 561,481 shares during the last quarter. Koch Industries Inc. bought a new position in M.D.C. in the second quarter valued at approximately $342,000. JPMorgan Chase & Co. boosted its stake in M.D.C. by 120.9% in the third quarter. JPMorgan Chase & Co. now owns 547,871 shares of the construction company’s stock valued at $18,020,000 after acquiring an additional 299,904 shares during the last quarter. Prudential Financial Inc. boosted its stake in M.D.C. by 90.6% in the third quarter. Prudential Financial Inc. now owns 583,941 shares of the construction company’s stock valued at $19,393,000 after acquiring an additional 277,580 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in M.D.C. by 54.1% in the fourth quarter. Acadian Asset Management LLC now owns 443,507 shares of the construction company’s stock valued at $14,139,000 after acquiring an additional 155,618 shares during the last quarter. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of M.D.C. (NYSE:MDC) opened at $34.13 on Monday. The company has a quick ratio of 2.60, a current ratio of 9.45 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1,914.65, a P/E ratio of 12.25, a P/E/G ratio of 0.88 and a beta of 1.36. M.D.C. has a fifty-two week low of $23.95 and a fifty-two week high of $35.18.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, February 6th. This is a boost from M.D.C.’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 3.52%. M.D.C.’s dividend payout ratio (DPR) is presently 33.37%.

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About M.D.C.

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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