Zacks: Analysts Expect MDC Holdings (MDC) Will Post Quarterly Sales of $590.49 Million

Brokerages forecast that MDC Holdings (NYSE:MDC) will post $590.49 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for MDC’s earnings, with estimates ranging from $579.18 million to $603.59 million. MDC posted sales of $581.71 million during the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The company is expected to report its next earnings report on Tuesday, May 8th.

On average, analysts expect that MDC will report full-year sales of $590.49 million for the current financial year, with estimates ranging from $2.87 billion to $3.11 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.32 billion per share, with estimates ranging from $3.11 billion to $3.67 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for MDC.

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MDC (NYSE:MDC) last issued its quarterly earnings results on Thursday, February 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.25). MDC had a net margin of 5.50% and a return on equity of 11.00%. The firm had revenue of $704.26 million for the quarter, compared to the consensus estimate of $722.48 million. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis.



Several brokerages recently issued reports on MDC. Zacks Investment Research upgraded MDC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, March 20th. Wedbush began coverage on MDC in a research note on Monday, March 19th. They issued a “neutral” rating and a $30.00 price objective on the stock. UBS upgraded MDC from a “sell” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, March 13th. ValuEngine upgraded MDC from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, Raymond James Financial upgraded MDC from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research note on Tuesday, February 13th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $32.50.

MDC traded up $0.43 on Friday, hitting $29.23. 229,214 shares of the stock traded hands, compared to its average volume of 741,058. MDC has a 52 week low of $26.45 and a 52 week high of $37.45. The company has a quick ratio of 3.34, a current ratio of 10.01 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $1,617.47, a price-to-earnings ratio of 11.16, a P/E/G ratio of 0.62 and a beta of 1.47.

In other news, Director Herbert T. Buchwald sold 4,644 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $29.84, for a total value of $138,576.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David E. Blackford sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $28.18, for a total value of $70,450.00. The disclosure for this sale can be found here. Corporate insiders own 27.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MDC. New York State Common Retirement Fund boosted its holdings in shares of MDC by 4.3% in the 3rd quarter. New York State Common Retirement Fund now owns 46,104 shares of the construction company’s stock worth $1,531,000 after acquiring an additional 1,900 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of MDC by 7,427.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 143,027 shares of the construction company’s stock worth $4,750,000 after acquiring an additional 141,127 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of MDC by 7.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 272,072 shares of the construction company’s stock worth $9,036,000 after acquiring an additional 18,097 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of MDC in the 3rd quarter worth approximately $322,000. Finally, American International Group Inc. boosted its holdings in shares of MDC by 5.9% in the 3rd quarter. American International Group Inc. now owns 32,936 shares of the construction company’s stock worth $1,094,000 after acquiring an additional 1,825 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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About MDC

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 MDC (NYSE:MDC)

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