Analysts Anticipate M.D.C. Holdings, Inc. (MDC) Will Announce Quarterly Sales of $608.08 Million

Wall Street brokerages expect M.D.C. Holdings, Inc. (NYSE:MDC) to post $608.08 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for M.D.C.’s earnings. The highest sales estimate is $615.20 million and the lowest is $598.00 million. M.D.C. reported sales of $626.72 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3%. The firm is scheduled to announce its next earnings report on Thursday, May 2nd.

According to Zacks, analysts expect that M.D.C. will report full-year sales of $2.96 billion for the current year, with estimates ranging from $2.86 billion to $3.06 billion. For the next financial year, analysts forecast that the company will report sales of $3.03 billion, with estimates ranging from $2.97 billion to $3.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for M.D.C..

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Thursday, January 31st. The construction company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.19). M.D.C. had a return on equity of 14.50% and a net margin of 6.93%. The firm had revenue of $858.49 million for the quarter, compared to analysts’ expectations of $839.29 million.

Several research firms have recently issued reports on MDC. Zacks Investment Research downgraded shares of M.D.C. from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. ValuEngine downgraded shares of M.D.C. from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $33.86.

Shares of MDC traded down $0.53 during mid-day trading on Monday, hitting $29.06. 441,583 shares of the company traded hands, compared to its average volume of 366,886. M.D.C. has a 1-year low of $25.14 and a 1-year high of $33.47. The company has a quick ratio of 2.49, a current ratio of 9.15 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.82 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.34.

In related news, SVP Michael Touff sold 36,741 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $28.84, for a total transaction of $1,059,610.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David D. Mandarich sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $29.65, for a total value of $1,630,750.00. The disclosure for this sale can be found here. Insiders sold a total of 194,089 shares of company stock valued at $5,611,678 over the last ninety days. Corporate insiders own 26.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in M.D.C. by 10.0% during the 4th quarter. Geode Capital Management LLC now owns 487,852 shares of the construction company’s stock worth $13,713,000 after buying an additional 44,409 shares during the last quarter. Norges Bank acquired a new position in shares of M.D.C. in the 4th quarter worth approximately $17,223,000. FMR LLC boosted its holdings in shares of M.D.C. by 0.6% in the 4th quarter. FMR LLC now owns 139,779 shares of the construction company’s stock worth $3,929,000 after acquiring an additional 815 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of M.D.C. by 209.1% in the 4th quarter. Millennium Management LLC now owns 287,754 shares of the construction company’s stock worth $8,089,000 after acquiring an additional 194,662 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of M.D.C. by 0.4% in the 4th quarter. Legal & General Group Plc now owns 108,282 shares of the construction company’s stock worth $3,047,000 after acquiring an additional 454 shares in the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

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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