Brokerages expect M.D.C. Holdings, Inc. (NYSE:MDC) to announce $1.22 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for M.D.C.'s earnings. The lowest sales estimate is $1.22 billion and the highest is $1.23 billion. M.D.C. reported sales of $1.10 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 10.9%. The business is scheduled to issue its next earnings results before the market opens on Tuesday, February 2nd.
On average, analysts expect that M.D.C. will report full year sales of $3.90 billion for the current fiscal year. For the next fiscal year, analysts expect that the company will report sales of $4.95 billion, with estimates ranging from $4.81 billion to $5.10 billion. Zacks' sales averages 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 released its earnings results on Thursday, October 29th. The construction company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.27. M.D.C. had a net margin of 8.27% and a return on equity of 16.78%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $954.59 million. During the same period in the prior year, the company posted $0.79 EPS. The company's revenue was up 33.4% compared to the same quarter last year.
A number of analysts have recently commented on MDC shares. Zacks Investment Research cut M.D.C. from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 17th. Wells Fargo & Company raised M.D.C. from an "underweight" rating to an "equal weight" rating and set a $46.00 price target for the company in a research note on Friday, October 30th. Zelman & Associates cut M.D.C. from a "buy" rating to a "hold" rating in a research note on Monday, October 26th. Bank of America cut M.D.C. from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 5th. Finally, JPMorgan Chase & Co. raised M.D.C. from a "neutral" rating to an "overweight" rating and upped their price target for the company from $50.00 to $67.00 in a research note on Thursday, October 8th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. M.D.C. currently has an average rating of "Buy" and an average target price of $48.29.
M.D.C. stock opened at $47.50 on Friday. The company has a current ratio of 7.69, a quick ratio of 1.89 and a debt-to-equity ratio of 0.59. The company has a market cap of $3.08 billion, a PE ratio of 9.94, a PEG ratio of 0.47 and a beta of 1.53. The company's 50-day moving average is $48.66 and its two-hundred day moving average is $45.52. M.D.C. has a 1 year low of $15.75 and a 1 year high of $52.50.
In related news, CAO Staci M. Woolsey sold 1,290 shares of the stock in a transaction that occurred on Wednesday, December 16th. The stock was sold at an average price of $49.06, for a total transaction of $63,287.40. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares of the company's stock, valued at approximately $137,220.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 25.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors bought a new position in shares of M.D.C. during the 2nd quarter worth approximately $25,000. Private Advisor Group LLC bought a new position in shares of M.D.C. during the 2nd quarter worth approximately $33,000. Point72 Hong Kong Ltd bought a new position in shares of M.D.C. during the 2nd quarter worth approximately $45,000. Exane Derivatives bought a new position in shares of M.D.C. during the 3rd quarter worth approximately $85,000. Finally, Planned Solutions Inc. bought a new position in shares of M.D.C. during the 3rd quarter worth approximately $94,000. 73.61% of the stock is owned by institutional investors.
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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