Zacks: Analysts Expect M.D.C. Holdings, Inc. (NYSE:MDC) Will Post Earnings of $2.43 Per Share

Brokerages expect that M.D.C. Holdings, Inc. (NYSE:MDCGet Rating) will post earnings of $2.43 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for M.D.C.’s earnings. The highest EPS estimate is $2.53 and the lowest is $2.32. M.D.C. posted earnings per share of $2.11 during the same quarter last year, which would suggest a positive year over year growth rate of 15.2%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that M.D.C. will report full year earnings of $10.65 per share for the current fiscal year, with EPS estimates ranging from $10.12 to $11.53. For the next year, analysts forecast that the company will post earnings of $10.79 per share, with EPS estimates ranging from $9.21 to $11.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for M.D.C..

M.D.C. (NYSE:MDCGet Rating) last released its quarterly earnings data on Thursday, April 28th. The construction company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.12. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. M.D.C. had a net margin of 11.24% and a return on equity of 24.22%. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.51 EPS.

MDC has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of M.D.C. from $49.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, April 13th. StockNews.com assumed coverage on shares of M.D.C. in a report on Thursday, March 31st. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, M.D.C. currently has a consensus rating of “Buy” and an average price target of $55.67.

M.D.C. stock opened at $37.74 on Tuesday. The firm’s 50 day moving average price is $37.25 and its two-hundred day moving average price is $44.35. M.D.C. has a twelve month low of $33.94 and a twelve month high of $57.06. The firm has a market cap of $2.69 billion, a PE ratio of 4.53 and a beta of 1.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 7.20.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Wednesday, May 11th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend was Tuesday, May 10th. M.D.C.’s payout ratio is 24.01%.

In related news, Director David E. Blackford sold 3,000 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $38.12, for a total transaction of $114,360.00. Following the completion of the sale, the director now owns 19,748 shares in the company, valued at approximately $752,793.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herbert T. Buchwald sold 9,950 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $37.64, for a total transaction of $374,518.00. Following the sale, the director now owns 10 shares of the company’s stock, valued at approximately $376.40. The disclosure for this sale can be found here. 24.20% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in MDC. Tompkins Financial Corp acquired a new stake in M.D.C. in the 1st quarter valued at about $25,000. Quadrant Capital Group LLC increased its position in M.D.C. by 65.2% in the 1st quarter. Quadrant Capital Group LLC now owns 884 shares of the construction company’s stock valued at $33,000 after acquiring an additional 349 shares in the last quarter. Exchange Traded Concepts LLC increased its position in M.D.C. by 155.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 995 shares of the construction company’s stock valued at $56,000 after acquiring an additional 605 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in M.D.C. in the 1st quarter valued at about $42,000. Finally, KBC Group NV acquired a new stake in M.D.C. in the 1st quarter valued at about $49,000. Institutional investors and hedge funds own 83.86% of the company’s stock.

About M.D.C. (Get Rating)

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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