Zacks Research Research Analysts Lift Earnings Estimates for M.D.C. Holdings, Inc. (NYSE:MDC)

M.D.C. Holdings, Inc. (NYSE:MDC) – Equities researchers at Zacks Research lifted their Q3 2023 earnings per share (EPS) estimates for shares of M.D.C. in a research report issued to clients and investors on Wednesday, October 25th. Zacks Research analyst S. Mukherjee now expects that the construction company will earn $1.12 per share for the quarter, up from their prior forecast of $1.09. The consensus estimate for M.D.C.’s current full-year earnings is $4.94 per share. Zacks Research also issued estimates for M.D.C.’s Q4 2023 earnings at $1.30 EPS, FY2023 earnings at $4.74 EPS, Q1 2024 earnings at $1.08 EPS, Q2 2024 earnings at $1.20 EPS, Q3 2024 earnings at $1.19 EPS, Q4 2024 earnings at $1.36 EPS, FY2024 earnings at $4.84 EPS, Q1 2025 earnings at $1.17 EPS, Q2 2025 earnings at $1.27 EPS, Q3 2025 earnings at $1.20 EPS and FY2025 earnings at $5.04 EPS.

M.D.C. (NYSE:MDC) last posted its earnings results on Thursday, October 26th. The construction company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.22. M.D.C. had a return on equity of 12.80% and a net margin of 7.74%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the business earned $1.98 EPS. The business’s revenue for the quarter was down 22.8% on a year-over-year basis.

A number of other research analysts also recently weighed in on the company. Wedbush upped their target price on M.D.C. from $28.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. StockNews.com began coverage on M.D.C. in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Raymond James upped their price target on M.D.C. from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.17.

M.D.C. Stock Down 0.0 %

MDC stock opened at $36.89 on Friday. M.D.C. has a fifty-two week low of $28.43 and a fifty-two week high of $51.94. The business’s 50 day moving average price is $42.22 and its two-hundred day moving average price is $43.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.71 and a current ratio of 9.07. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 6.86 and a beta of 1.43.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MDC. Nordwand Advisors LLC boosted its holdings in shares of M.D.C. by 37.0% in the third quarter. Nordwand Advisors LLC now owns 82,254 shares of the construction company’s stock valued at $3,391,000 after purchasing an additional 22,206 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of M.D.C. by 20.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,331 shares of the construction company’s stock valued at $96,000 after purchasing an additional 395 shares during the period. TD Asset Management Inc boosted its holdings in shares of M.D.C. by 1.6% in the third quarter. TD Asset Management Inc now owns 25,134 shares of the construction company’s stock valued at $1,036,000 after purchasing an additional 400 shares during the period. Advisor Partners II LLC boosted its holdings in shares of M.D.C. by 4.3% in the third quarter. Advisor Partners II LLC now owns 14,697 shares of the construction company’s stock valued at $606,000 after purchasing an additional 611 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in M.D.C. by 6.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,851 shares of the construction company’s stock worth $1,313,000 after buying an additional 1,853 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Insiders Place Their Bets

In other news, Director David E. Blackford sold 2,771 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $48.04, for a total transaction of $133,118.84. Following the completion of the transaction, the director now owns 19,734 shares in the company, valued at $948,021.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other M.D.C. news, Director Paris G. Reece III sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $50.88, for a total transaction of $763,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David E. Blackford sold 2,771 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $48.04, for a total value of $133,118.84. Following the transaction, the director now owns 19,734 shares of the company’s stock, valued at approximately $948,021.36. The disclosure for this sale can be found here. 23.30% of the stock is currently owned by company insiders.

M.D.C. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $2.20 dividend on an annualized basis and a yield of 5.96%. M.D.C.’s payout ratio is presently 40.89%.

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.