Brokerages Anticipate M.D.C. Holdings, Inc. (NYSE:MDC) to Post $0.87 Earnings Per Share

Equities research analysts expect that M.D.C. Holdings, Inc. (NYSE:MDC) will post earnings per share (EPS) of $0.87 for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for M.D.C.’s earnings, with estimates ranging from $0.82 to $0.95. M.D.C. reported earnings of $0.86 per share in the same quarter last year, which would suggest a positive year over year growth rate of 1.2%. The business is scheduled to announce its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that M.D.C. will report full year earnings of $3.67 per share for the current year, with EPS estimates ranging from $3.51 to $3.91. For the next financial year, analysts expect that the firm will report earnings of $4.20 per share, with EPS estimates ranging from $3.90 to $4.35. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for M.D.C..

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Wednesday, July 31st. The construction company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.08. M.D.C. had a net margin of 6.64% and a return on equity of 13.24%. The company had revenue of $732.84 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the prior year, the business earned $1.03 earnings per share. M.D.C.’s revenue for the quarter was down 2.2% compared to the same quarter last year.

A number of brokerages have commented on MDC. Zacks Investment Research upgraded shares of M.D.C. from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Wednesday, July 10th. Raymond James upgraded shares of M.D.C. from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $42.00 to $49.00 in a research report on Friday, September 13th. JPMorgan Chase & Co. upgraded shares of M.D.C. from an “underweight” rating to a “neutral” rating in a research report on Monday, July 8th. Wedbush increased their price target on shares of M.D.C. from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. Finally, ValuEngine cut shares of M.D.C. from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. M.D.C. presently has a consensus rating of “Buy” and a consensus price target of $38.17.

In other news, Director Paris G. Reece III sold 25,030 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $36.55, for a total transaction of $914,846.50. Following the completion of the sale, the director now owns 4,697 shares of the company’s stock, valued at $171,675.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Raymond T. Baker sold 41,250 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $42.69, for a total value of $1,760,962.50. Following the sale, the director now directly owns 45,462 shares of the company’s stock, valued at approximately $1,940,772.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,703 shares of company stock valued at $5,098,299. Insiders own 26.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of M.D.C. by 1.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 19,244 shares of the construction company’s stock valued at $631,000 after purchasing an additional 300 shares during the period. Meeder Asset Management Inc. lifted its position in M.D.C. by 5.6% during the second quarter. Meeder Asset Management Inc. now owns 10,144 shares of the construction company’s stock valued at $331,000 after buying an additional 541 shares during the period. Magnus Financial Group LLC lifted its position in M.D.C. by 8.0% during the first quarter. Magnus Financial Group LLC now owns 7,996 shares of the construction company’s stock valued at $232,000 after buying an additional 592 shares during the period. Captrust Financial Advisors lifted its position in M.D.C. by 86.0% during the second quarter. Captrust Financial Advisors now owns 1,306 shares of the construction company’s stock valued at $43,000 after buying an additional 604 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of M.D.C. by 0.9% during the second quarter. Arizona State Retirement System now owns 76,346 shares of the construction company’s stock valued at $2,503,000 after acquiring an additional 648 shares in the last quarter. 74.84% of the stock is owned by hedge funds and other institutional investors.

NYSE MDC traded up $0.10 on Friday, reaching $42.43. 579,236 shares of the company’s stock traded hands, compared to its average volume of 534,979. M.D.C. has a 12 month low of $25.14 and a 12 month high of $44.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 9.12 and a quick ratio of 2.19. The stock has a 50-day simple moving average of $38.02 and a 200 day simple moving average of $33.58. The stock has a market cap of $2.66 billion, a PE ratio of 11.56, a P/E/G ratio of 1.18 and a beta of 1.08.

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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