M.D.C. Holdings, Inc. (NYSE:MDC) Expected to Announce Quarterly Sales of $1.03 Billion

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Equities research analysts expect that M.D.C. Holdings, Inc. (NYSE:MDC) will post $1.03 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for M.D.C.’s earnings, with the highest sales estimate coming in at $1.07 billion and the lowest estimate coming in at $970.60 million. M.D.C. posted sales of $858.49 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The company is expected to announce its next earnings results on Thursday, January 30th.

According to Zacks, analysts expect that M.D.C. will report full year sales of $3.21 billion for the current financial year, with estimates ranging from $3.15 billion to $3.26 billion. For the next year, analysts expect that the business will report sales of $3.65 billion, with estimates ranging from $3.49 billion to $3.76 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for M.D.C..

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.08). The firm had revenue of $750.27 million for the quarter, compared to analyst estimates of $767.23 million. M.D.C. had a return on equity of 12.73% and a net margin of 6.58%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 earnings per share.

MDC has been the topic of a number of analyst reports. Zelman & Associates lowered M.D.C. from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wedbush lifted their target price 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. Cfra raised shares of M.D.C. from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. ValuEngine lowered shares of M.D.C. from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Raymond James raised M.D.C. from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $42.00 to $49.00 in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.00.

NYSE MDC traded up $0.56 during trading hours on Friday, hitting $39.70. 147,856 shares of the company were exchanged, compared to its average volume of 552,521. The company has a 50 day moving average of $40.89 and a two-hundred day moving average of $37.76. The company has a quick ratio of 1.83, a current ratio of 9.08 and a debt-to-equity ratio of 0.66. M.D.C. has a 52-week low of $25.77 and a 52-week high of $46.84. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.09 and a beta of 1.03.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.02%. The ex-dividend date was Tuesday, November 12th. M.D.C.’s dividend payout ratio (DPR) is currently 32.70%.

In other news, 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 completion of the sale, the director now directly owns 45,462 shares of the company’s stock, valued at $1,940,772.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jean-Frederic Viret sold 3,159 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $20.44, for a total transaction of $64,569.96. Insiders sold 75,309 shares of company stock valued at $3,381,670 in the last 90 days. Corporate insiders own 26.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in M.D.C. by 6.5% during the 2nd quarter. BlackRock Inc. now owns 8,894,057 shares of the construction company’s stock worth $291,547,000 after purchasing an additional 539,112 shares during the period. Vanguard Group Inc. boosted its position in shares of M.D.C. by 0.9% in the second quarter. Vanguard Group Inc. now owns 5,320,714 shares of the construction company’s stock worth $174,413,000 after buying an additional 46,508 shares during the period. State Street Corp grew its holdings in shares of M.D.C. by 1.3% during the third quarter. State Street Corp now owns 1,706,330 shares of the construction company’s stock valued at $73,543,000 after buying an additional 21,916 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of M.D.C. by 11.8% during the second quarter. Bank of New York Mellon Corp now owns 1,686,489 shares of the construction company’s stock valued at $55,283,000 after buying an additional 178,230 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of M.D.C. by 15.5% during the second quarter. Northern Trust Corp now owns 1,072,747 shares of the construction company’s stock valued at $35,165,000 after buying an additional 144,333 shares in the last quarter. 76.21% of the stock is currently owned by hedge funds and other institutional investors.

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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