Wall Street analysts forecast that M.D.C. Holdings, Inc. (NYSE:MDC) will post sales of $774.60 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for M.D.C.’s earnings, with the lowest sales estimate coming in at $757.00 million and the highest estimate coming in at $792.80 million. M.D.C. posted sales of $785.64 million during the same quarter last year, which suggests a negative year over year growth rate of 1.4%. The firm is scheduled to report its next earnings report on Thursday, November 7th.
On average, analysts expect that M.D.C. will report full-year sales of $3.16 billion for the current year, with estimates ranging from $3.09 billion to $3.21 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.40 billion, with estimates ranging from $3.01 billion to $3.62 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for M.D.C..
M.D.C. (NYSE:MDC) last released its quarterly earnings results on Wednesday, July 31st. The construction company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.08. M.D.C. had a return on equity of 13.24% and a net margin of 6.64%. The firm had revenue of $732.84 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period last year, the firm posted $1.03 EPS. The business’s revenue was down 2.2% on a year-over-year basis.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised M.D.C. from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. raised M.D.C. from an “underweight” rating to a “neutral” rating in a report on Monday, July 8th. ValuEngine cut M.D.C. from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Wedbush lifted their target price on M.D.C. from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. M.D.C. has an average rating of “Buy” and an average price target of $34.80.
In other news, CFO Robert Nathaniel Martin sold 7,000 shares of M.D.C. stock in a transaction on Friday, May 31st. The stock was sold at an average price of $31.79, for a total value of $222,530.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paris G. Reece III sold 25,030 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $36.55, for a total value of $914,846.50. Following the completion of the transaction, the director now owns 4,697 shares in the company, valued at $171,675.35. The disclosure for this sale can be found here. Insiders sold a total of 112,872 shares of company stock valued at $3,845,785 over the last three months. Insiders own 26.30% of the company’s stock.
Large investors have recently bought and sold shares of the company. Burney Co. boosted its position in shares of M.D.C. by 6.3% in the 1st quarter. Burney Co. now owns 266,375 shares of the construction company’s stock worth $7,741,000 after purchasing an additional 15,718 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of M.D.C. by 10.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,944 shares of the construction company’s stock worth $551,000 after purchasing an additional 1,720 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of M.D.C. by 7.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the construction company’s stock worth $532,000 after purchasing an additional 1,339 shares during the last quarter. WBI Investments Inc. bought a new position in shares of M.D.C. in the 2nd quarter worth $2,102,000. Finally, Baltimore Capital Management Inc. bought a new position in shares of M.D.C. in the 1st quarter worth $1,724,000. Institutional investors and hedge funds own 73.97% of the company’s stock.
MDC stock traded up $0.38 during midday trading on Friday, reaching $36.15. 210,200 shares of the company’s stock traded hands, compared to its average volume of 415,028. The company has a 50-day simple moving average of $35.93 and a two-hundred day simple moving average of $32.13. M.D.C. has a 1-year low of $25.14 and a 1-year high of $37.86. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.23 and a beta of 1.13. The company has a quick ratio of 2.19, a current ratio of 9.12 and a debt-to-equity ratio of 0.66.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $1.20 annualized dividend and a dividend yield of 3.32%. M.D.C.’s dividend payout ratio (DPR) is currently 32.70%.
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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