M.D.C. Holdings, Inc. (MDC) Expected to Announce Quarterly Sales of $591.92 Million

Analysts expect that M.D.C. Holdings, Inc. (NYSE:MDC) will post sales of $591.92 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for M.D.C.’s earnings, with estimates ranging from $579.18 million to $603.59 million. M.D.C. reported sales of $581.71 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.8%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, May 8th.

On average, analysts expect that M.D.C. will report full-year sales of $591.92 million for the current year, with estimates ranging from $2.87 billion to $3.11 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.32 billion per share, with estimates ranging from $3.11 billion to $3.67 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow M.D.C..

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

MDC has been the subject of a number of research analyst reports. UBS Group initiated coverage on M.D.C. in a research note on Wednesday, October 25th. They issued a “sell” rating and a $34.00 target price for the company. Zacks Investment Research cut M.D.C. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine cut M.D.C. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Citigroup lowered their target price on M.D.C. from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Finally, Bank of America raised their target price on M.D.C. from $31.00 to $34.00 and gave the company an “underperform” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $33.71.

M.D.C. (MDC) opened at $30.27 on Thursday. The company has a market capitalization of $1,674.72, a P/E ratio of 11.24, a PEG ratio of 0.65 and a beta of 1.36. The company has a debt-to-equity ratio of 0.78, a current ratio of 10.01 and a quick ratio of 3.34. M.D.C. has a one year low of $25.89 and a one year high of $35.18.

The business 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 dividend of $0.30 per share. This is a boost from M.D.C.’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, February 6th. This represents a $1.20 dividend on an annualized basis and a yield of 3.96%. M.D.C.’s payout ratio is presently 48.10%.

In other M.D.C. news, Director Herbert T. Buchwald sold 28,350 shares of M.D.C. stock in a transaction on Friday, December 15th. The stock was sold at an average price of $31.52, for a total transaction of $893,592.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Siegel sold 2,500 shares of M.D.C. stock in a transaction on 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 currently owned by insiders.

Large investors have recently made changes to their positions in the business. Parsec Financial Management Inc. purchased a new position in M.D.C. during the fourth quarter valued at $203,000. Amalgamated Bank purchased a new position in M.D.C. during the fourth quarter valued at $207,000. Quantitative Systematic Strategies LLC purchased a new position in M.D.C. during the fourth quarter valued at $260,000. Sawgrass Asset Management LLC purchased a new position in M.D.C. during the third quarter valued at $262,000. Finally, Meadow Creek Investment Management LLC raised its stake in M.D.C. by 46.8% during the fourth quarter. Meadow Creek Investment Management LLC now owns 8,344 shares of the construction company’s stock valued at $266,000 after buying an additional 2,660 shares during the last quarter. Institutional investors and hedge funds own 73.84% of the company’s stock.

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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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