Wall Street brokerages forecast that M.D.C. Holdings, Inc. (NYSE:MDC) will report earnings of $1.20 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for M.D.C.’s earnings. The lowest EPS estimate is $1.14 and the highest is $1.27. M.D.C. posted earnings per share of $0.79 in the same quarter last year, which suggests a positive year-over-year growth rate of 51.9%. The company is expected to report its next quarterly earnings report before the market opens on Thursday, October 29th.
On average, analysts expect that M.D.C. will report full-year earnings of $4.80 per share for the current year, with EPS estimates ranging from $4.67 to $5.02. For the next year, analysts anticipate that the business will post earnings of $6.10 per share, with EPS estimates ranging from $5.45 to $7.12. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for M.D.C..
M.D.C. (NYSE:MDC) last released its quarterly earnings data on Tuesday, July 28th. The construction company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.48. M.D.C. had a net margin of 7.52% and a return on equity of 14.75%. The firm had revenue of $886.80 million during the quarter, compared to analysts’ expectations of $806.74 million. During the same period in the previous year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year.
A number of equities analysts recently issued reports on the company. Bank of America upgraded M.D.C. from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Tuesday, September 15th. ValuEngine upgraded M.D.C. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. upgraded M.D.C. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $50.00 to $67.00 in a research report on Thursday, October 8th. Evercore ISI raised M.D.C. from an “in-line” rating to an “outperform” rating and set a $61.00 target price on the stock in a research note on Wednesday, July 29th. Finally, Zacks Investment Research raised M.D.C. from a “sell” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a report on Tuesday, July 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $48.88.
M.D.C. stock opened at $50.90 on Tuesday. The company has a market capitalization of $3.23 billion, a P/E ratio of 12.48, a P/E/G ratio of 0.74 and a beta of 1.49. The business has a 50 day moving average of $46.30 and a 200-day moving average of $37.13. The company has a debt-to-equity ratio of 0.63, a current ratio of 7.53 and a quick ratio of 2.01. M.D.C. has a 1 year low of $15.75 and a 1 year high of $52.50.
In related news, CFO Robert Nathaniel Martin sold 21,432 shares of M.D.C. stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $44.98, for a total transaction of $964,011.36. Following the transaction, the chief financial officer now owns 127,611 shares in the company, valued at approximately $5,739,942.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Siegel sold 29,194 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $44.90, for a total transaction of $1,310,810.60. Following the completion of the transaction, the director now owns 11,621 shares in the company, valued at approximately $521,782.90. The disclosure for this sale can be found here. Insiders have sold 864,771 shares of company stock valued at $38,604,311 in the last quarter. Insiders own 25.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MDC. BNP Paribas Arbitrage SA lifted its stake in M.D.C. by 163.3% during the first quarter. BNP Paribas Arbitrage SA now owns 45,375 shares of the construction company’s stock valued at $1,053,000 after purchasing an additional 28,141 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of M.D.C. by 387.1% during the 1st quarter. Royal Bank of Canada now owns 98,725 shares of the construction company’s stock worth $2,291,000 after buying an additional 78,458 shares during the period. Geode Capital Management LLC boosted its holdings in shares of M.D.C. by 6.4% during the 1st quarter. Geode Capital Management LLC now owns 757,059 shares of the construction company’s stock worth $17,563,000 after buying an additional 45,337 shares during the period. Dupont Capital Management Corp bought a new stake in M.D.C. in the 2nd quarter valued at $232,000. Finally, Nuveen Asset Management LLC lifted its holdings in shares of M.D.C. by 3.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 241,969 shares of the construction company’s stock worth $8,639,000 after acquiring an additional 9,102 shares during the period. Hedge funds and other institutional investors own 74.04% of the company’s stock.
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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