Zacks: Brokerages Expect M.D.C. Holdings, Inc. (NYSE:MDC) to Announce $0.87 EPS

Equities research analysts predict that M.D.C. Holdings, Inc. (NYSE:MDC) will post $0.87 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for M.D.C.’s earnings, with the highest EPS estimate coming in at $0.95 and the lowest estimate coming in at $0.82. M.D.C. reported earnings per share of $0.86 in the same quarter last year, which indicates a positive year over year growth rate of 1.2%. The company is expected to issue its next earnings report after the market closes on Wednesday, October 30th.

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

M.D.C. (NYSE:MDC) last issued its earnings results on Wednesday, July 31st. The construction company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.08. M.D.C. had a return on equity of 13.24% and a net margin of 6.64%. The business had revenue of $732.84 million during the quarter, compared to the consensus estimate of $727.20 million. During the same period in the previous year, the company posted $1.03 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis.

MDC has been the subject of a number of research reports. Zacks Investment Research raised M.D.C. from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, July 10th. ValuEngine cut M.D.C. from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wedbush raised their price objective on M.D.C. from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Raymond James raised M.D.C. from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $42.00 to $49.00 in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. raised M.D.C. from an “underweight” rating to a “neutral” rating in a research note on Monday, July 8th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $40.75.

In related news, CFO Jean-Frederic Viret sold 3,159 shares of M.D.C. 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. Also, Director Michael A. Berman sold 10,000 shares of M.D.C. stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $70.52, for a total value of $705,200.00. Following the transaction, the director now directly owns 148,218 shares in the company, valued at approximately $10,452,333.36. The disclosure for this sale can be found here. Insiders sold 123,862 shares of company stock valued at $5,162,869 in the last three months. Insiders own 26.30% of the company’s stock.

Several large investors have recently made changes to their positions in MDC. Captrust Financial Advisors boosted its position in shares of 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 last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of M.D.C. during the second quarter valued at approximately $90,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of M.D.C. during the second quarter valued at approximately $218,000. GAM Holding AG purchased a new position in M.D.C. in the second quarter worth $252,000. Finally, Zebra Capital Management LLC purchased a new position in M.D.C. in the second quarter worth $267,000. 74.89% of the stock is currently owned by institutional investors.

Shares of M.D.C. stock opened at $45.07 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.19 and a current ratio of 9.12. M.D.C. has a 52 week low of $25.14 and a 52 week high of $45.08. The stock has a 50 day moving average price of $41.57 and a two-hundred day moving average price of $35.49. The stock has a market capitalization of $2.70 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.20 and a beta of 1.05.

M.D.C. Company Profile

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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