M.D.C. Holdings, Inc. (NYSE:MDC) Expected to Post Quarterly Sales of $961.77 Million

Brokerages expect M.D.C. Holdings, Inc. (NYSE:MDC) to report $961.77 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for M.D.C.’s earnings, with estimates ranging from $940.40 million to $980.20 million. M.D.C. posted sales of $772.66 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 24.5%. The business is expected to announce its next earnings results on Wednesday, November 4th.

According to Zacks, analysts expect that M.D.C. will report full year sales of $3.86 billion for the current fiscal year, with estimates ranging from $3.75 billion to $3.99 billion. For the next year, analysts forecast that the firm will report sales of $4.70 billion, with estimates ranging from $4.23 billion to $5.10 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for M.D.C..

M.D.C. (NYSE:MDC) last released its earnings results on Tuesday, July 28th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $886.80 million during the quarter, compared to the consensus estimate of $806.74 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue was up 21.0% compared to the same quarter last year.

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of M.D.C. from $38.50 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Zacks Investment Research upgraded shares of M.D.C. from a “sell” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a report on Tuesday, July 14th. ValuEngine upgraded shares of M.D.C. from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 4th. BofA Securities upgraded shares of M.D.C. from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Tuesday, September 15th. Finally, Bank of America upgraded shares of M.D.C. from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Tuesday, September 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.75.

MDC stock traded down $0.65 during midday trading on Tuesday, reaching $46.39. The company had a trading volume of 369,847 shares, compared to its average volume of 604,951. M.D.C. has a 1 year low of $15.75 and a 1 year high of $48.99. The company has a current ratio of 7.53, a quick ratio of 2.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2.94 billion, a P/E ratio of 11.37, a PEG ratio of 1.20 and a beta of 1.57. The company has a 50 day moving average of $44.74 and a two-hundred day moving average of $34.94.

In other M.D.C. news, Director Paris G. Reece III sold 22,200 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $47.04, for a total value of $1,044,288.00. Following the sale, the director now directly owns 41,491 shares in the company, valued at approximately $1,951,736.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Siegel sold 23,729 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $47.61, for a total transaction of $1,129,737.69. Following the completion of the sale, the director now owns 56,091 shares in the company, valued at $2,670,492.51. The disclosure for this sale can be found here. Insiders sold a total of 864,771 shares of company stock worth $38,604,311 over the last quarter. 25.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of M.D.C. by 5.1% during the 1st quarter. State Street Corp now owns 1,898,583 shares of the construction company’s stock worth $44,047,000 after acquiring an additional 91,592 shares during the period. Hamlin Capital Management LLC lifted its holdings in shares of M.D.C. by 100.0% during the 2nd quarter. Hamlin Capital Management LLC now owns 1,593,691 shares of the construction company’s stock worth $56,895,000 after acquiring an additional 796,773 shares during the period. Balyasny Asset Management LLC bought a new position in shares of M.D.C. during the 2nd quarter worth about $37,057,000. Clark Capital Management Group Inc. lifted its holdings in shares of M.D.C. by 125.0% during the 2nd quarter. Clark Capital Management Group Inc. now owns 1,006,001 shares of the construction company’s stock worth $35,914,000 after acquiring an additional 558,981 shares during the period. Finally, FMR LLC lifted its holdings in shares of M.D.C. by 13.5% during the 2nd quarter. FMR LLC now owns 987,656 shares of the construction company’s stock worth $35,259,000 after acquiring an additional 117,170 shares during the period. Institutional investors own 74.04% of the company’s stock.

About M.D.C.

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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Earnings History and Estimates for M.D.C. (NYSE:MDC)

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