Wedbush Comments on M.D.C. Holdings, Inc.’s Q3 2020 Earnings (NYSE:MDC)

M.D.C. Holdings, Inc. (NYSE:MDC) – Equities researchers at Wedbush lifted their Q3 2020 earnings per share (EPS) estimates for shares of M.D.C. in a report issued on Monday, September 14th. Wedbush analyst J. Mccanless now expects that the construction company will earn $1.26 per share for the quarter, up from their prior forecast of $1.23. Wedbush also issued estimates for M.D.C.’s FY2020 earnings at $5.02 EPS, Q1 2021 earnings at $0.98 EPS, Q2 2021 earnings at $1.51 EPS, Q3 2021 earnings at $1.52 EPS, Q4 2021 earnings at $2.18 EPS, Q1 2022 earnings at $1.02 EPS and Q2 2022 earnings at $1.59 EPS.

M.D.C. (NYSE:MDC) last released its earnings results on Tuesday, July 28th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.48. M.D.C. had a net margin of 7.52% and a return on equity of 14.75%. The firm had revenue of $886.80 million during the quarter, compared to analyst estimates of $806.74 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year.

Several other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of M.D.C. from a “sell” rating to a “strong-buy” rating and set a $43.00 price target for the company in a report on Tuesday, July 14th. Evercore ISI raised shares of M.D.C. from an “in-line” rating to an “outperform” rating and set a $61.00 price target for the company in a report on Wednesday, July 29th. ValuEngine raised shares of M.D.C. from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 4th. Bank of America raised shares of M.D.C. from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Tuesday. Finally, BofA Securities raised shares of M.D.C. from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $46.75.

Shares of MDC opened at $46.72 on Wednesday. M.D.C. has a 1 year low of $15.75 and a 1 year high of $48.99. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.20 and a beta of 1.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.01 and a current ratio of 7.53. The firm has a fifty day moving average of $44.33 and a 200-day moving average of $34.54.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Tuesday, August 11th. M.D.C.’s payout ratio is 35.48%.

In other M.D.C. news, COO David D. Mandarich sold 200,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the completion of the sale, the chief operating officer now directly owns 4,363,466 shares of the company’s stock, valued at approximately $196,355,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Siegel sold 29,194 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $44.90, for a total transaction of $1,310,810.60. Following the completion of the sale, the director now directly owns 11,621 shares of the company’s stock, valued at $521,782.90. The disclosure for this sale can be found here. Insiders sold a total of 841,042 shares of company stock valued at $37,474,574 over the last three months. 25.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mutual of America Capital Management LLC lifted its holdings in M.D.C. by 13.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 2,434 shares of the construction company’s stock valued at $87,000 after acquiring an additional 289 shares during the last quarter. Arizona State Retirement System raised its holdings in M.D.C. by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 12,097 shares of the construction company’s stock worth $432,000 after buying an additional 340 shares during the period. US Bancorp DE raised its holdings in M.D.C. by 57.1% during the 2nd quarter. US Bancorp DE now owns 982 shares of the construction company’s stock worth $35,000 after buying an additional 357 shares during the period. Janney Montgomery Scott LLC raised its holdings in M.D.C. by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,927 shares of the construction company’s stock worth $277,000 after buying an additional 376 shares during the period. Finally, State of Tennessee Treasury Department raised its holdings in M.D.C. by 2.5% during the 1st quarter. State of Tennessee Treasury Department now owns 16,826 shares of the construction company’s stock worth $390,000 after buying an additional 405 shares during the period. 74.04% of the stock is owned by 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.

Read More: What is the Shanghai Stock Exchange Composite Index?

Earnings History and Estimates for M.D.C. (NYSE:MDC)

Receive News & Ratings for M.D.C. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M.D.C. and related companies with MarketBeat.com's FREE daily email newsletter.