Wall Street brokerages expect M.D.C. Holdings, Inc. (NYSE:MDC) to announce $1.07 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for M.D.C.’s earnings. The lowest sales estimate is $1.02 billion and the highest is $1.11 billion. M.D.C. posted sales of $858.49 million in the same quarter last year, which suggests a positive year over year growth rate of 24.6%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, January 30th.
According to Zacks, analysts expect that M.D.C. will report full-year sales of $3.24 billion for the current fiscal year, with estimates ranging from $3.15 billion to $3.30 billion. For the next year, analysts forecast that the firm will report sales of $3.67 billion, with estimates ranging from $3.52 billion to $3.76 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for M.D.C..
M.D.C. (NYSE:MDC) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.08). The firm had revenue of $750.27 million during the quarter, compared to analyst estimates of $767.23 million. M.D.C. had a net margin of 6.58% and a return on equity of 12.73%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share.
Several equities research analysts recently issued reports on the company. ValuEngine cut M.D.C. from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Zacks Investment Research upgraded M.D.C. from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Saturday, January 4th. Zelman & Associates cut M.D.C. from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Cfra upgraded M.D.C. from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. M.D.C. presently has an average rating of “Hold” and an average target price of $44.00.
MDC opened at $41.06 on Wednesday. The stock has a fifty day moving average of $39.05 and a 200-day moving average of $39.12. The company has a market capitalization of $2.50 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.98 and a beta of 1.00. M.D.C. has a fifty-two week low of $27.13 and a fifty-two week high of $46.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.83 and a current ratio of 9.08.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in shares of M.D.C. by 6.5% in the 2nd quarter. BlackRock Inc. now owns 8,894,057 shares of the construction company’s stock valued at $291,547,000 after purchasing an additional 539,112 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in M.D.C. in the second quarter valued at approximately $9,242,000. Intrinsic Edge Capital Management LLC acquired a new stake in M.D.C. in the second quarter valued at approximately $5,069,000. Northern Trust Corp grew its stake in shares of M.D.C. by 15.5% during the second quarter. Northern Trust Corp now owns 1,072,747 shares of the construction company’s stock worth $35,165,000 after buying an additional 144,333 shares during the last quarter. Finally, FMR LLC grew its stake in shares of M.D.C. by 61.5% during the first quarter. FMR LLC now owns 225,699 shares of the construction company’s stock worth $6,559,000 after buying an additional 85,920 shares during the last quarter. Hedge funds and other institutional investors own 76.23% of the company’s stock.
M.D.C. Company Profile
M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.
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