Analysts expect that MDC Holdings (NYSE:MDC) will announce earnings of $0.53 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for MDC’s earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.58. MDC reported earnings of $0.40 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 32.5%. The company is expected to issue its next quarterly earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that MDC will report full year earnings of $2.98 per share for the current fiscal year, with EPS estimates ranging from $2.89 to $3.10. For the next fiscal year, analysts forecast that the business will report earnings of $3.41 per share, with EPS estimates ranging from $3.24 to $3.54. Zacks’ EPS averages are an average based on a survey of research firms that follow MDC.
MDC (NYSE:MDC) last posted its quarterly earnings data on Thursday, February 1st. The construction company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ 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. MDC had a net margin of 5.50% and a return on equity of 11.00%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS.
Several brokerages have recently issued reports on MDC. Zacks Investment Research upgraded shares of MDC from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a research note on Thursday, February 1st. UBS restated a “sell” rating and set a $32.00 price target (up previously from $30.00) on shares of MDC in a research note on Wednesday, January 17th. Bank of America raised their price target on shares of MDC from $31.00 to $34.00 and gave the stock an “underperform” rating in a research note on Friday, February 2nd. Raymond James Financial upgraded shares of MDC from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Tuesday, February 13th. They noted that the move was a valuation call. Finally, Wedbush began coverage on shares of MDC in a research note on Monday, March 19th. They set a “neutral” rating and a $30.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.50.
In other MDC news, Director David E. Blackford sold 2,500 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $28.18, for a total value of $70,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herbert T. Buchwald sold 4,644 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $29.84, for a total transaction of $138,576.96. The disclosure for this sale can be found here. 27.00% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Quantitative Investment Management LLC boosted its holdings in MDC by 33.6% in the 4th quarter. Quantitative Investment Management LLC now owns 85,900 shares of the construction company’s stock valued at $2,738,000 after purchasing an additional 21,600 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of MDC during the 4th quarter worth $1,022,000. James Investment Research Inc. lifted its holdings in shares of MDC by 12,746.5% during the 4th quarter. James Investment Research Inc. now owns 91,210 shares of the construction company’s stock worth $2,908,000 after acquiring an additional 90,500 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of MDC by 10.2% during the 4th quarter. Allianz Asset Management GmbH now owns 926,473 shares of the construction company’s stock worth $29,536,000 after acquiring an additional 85,513 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of MDC by 26.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 16,037 shares of the construction company’s stock worth $533,000 after acquiring an additional 3,321 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.
Shares of MDC stock traded up $0.42 during trading hours on Thursday, hitting $29.22. 217,114 shares of the company were exchanged, compared to its average volume of 741,030. The company has a quick ratio of 3.34, a current ratio of 10.01 and a debt-to-equity ratio of 0.78. MDC has a 52-week low of $26.45 and a 52-week high of $37.45. The firm has a market cap of $1,617.47, a P/E ratio of 11.16, a PEG ratio of 0.62 and a beta of 1.47.
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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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