FY2018 Earnings Forecast for M.D.C. Holdings, Inc. Issued By KeyCorp (MDC)

M.D.C. Holdings, Inc. (NYSE:MDC) – Equities researchers at KeyCorp lifted their FY2018 EPS estimates for M.D.C. in a research report issued to clients and investors on Wednesday. KeyCorp analyst K. Zener now expects that the construction company will earn $2.89 per share for the year, up from their previous estimate of $2.40. KeyCorp also issued estimates for M.D.C.’s FY2019 earnings at $3.27 EPS.

M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Thursday, February 1st. The construction company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.25). The company had revenue of $704.26 million during the quarter, compared to analysts’ expectations of $722.48 million. M.D.C. had a return on equity of 11.00% and a net margin of 5.50%. M.D.C.’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share.

A number of other brokerages also recently weighed in on MDC. Bank of America boosted their price target on shares of M.D.C. from $31.00 to $34.00 and gave the stock an “underperform” rating in a report on Friday, February 2nd. ValuEngine downgraded shares of M.D.C. from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Citigroup cut their price target on shares of M.D.C. from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. UBS Group reissued a “sell” rating and issued a $32.00 price target (up from $30.00) on shares of M.D.C. in a report on Wednesday, January 17th. Finally, Zacks Investment Research raised shares of M.D.C. from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a report on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. M.D.C. presently has an average rating of “Hold” and a consensus price target of $33.50.

M.D.C. (NYSE MDC) opened at $29.48 on Monday. The company has a quick ratio of 3.34, a current ratio of 10.01 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1,654.51, a PE ratio of 11.10, a P/E/G ratio of 0.64 and a beta of 1.34. M.D.C. has a fifty-two week low of $24.99 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 issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, February 6th. This is an increase from M.D.C.’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 4.07%. M.D.C.’s dividend payout ratio is 48.10%.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank bought a new stake in shares of M.D.C. during the second quarter valued at about $202,000. Parsec Financial Management Inc. bought a new stake in shares of M.D.C. during the fourth quarter valued at about $203,000. Quantitative Systematic Strategies LLC bought a new stake in shares of M.D.C. during the fourth quarter valued at about $260,000. Sawgrass Asset Management LLC bought a new stake in shares of M.D.C. during the third quarter valued at about $262,000. Finally, Parametrica Management Ltd bought a new stake in shares of M.D.C. during the third quarter valued at about $285,000. Hedge funds and other institutional investors own 73.84% of the company’s stock.

WARNING: “FY2018 Earnings Forecast for M.D.C. Holdings, Inc. Issued By KeyCorp (MDC)” was originally published by American Banking News and is the property of of American Banking News. If you are reading this report on another website, it was stolen and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be accessed at https://www.americanbankingnews.com/2018/02/12/fy2018-earnings-forecast-for-m-d-c-holdings-inc-issued-by-keycorp-mdc.html.

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.

Receive News & Ratings for M.D.C. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M.D.C. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply