M.D.C. Holdings, Inc. (MDC) Exceeds Market Returns: Some Facts to Consider
The most recent trading session ended with M.D.C. Holdings, Inc. (MDC) standing at $53.44, reflecting a +0.51% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.18%. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq increased by 0.1%.
Shares of the company have appreciated by 9.88% over the course of the past month, outperforming the Construction sector's gain of 6.37% and the S&P 500's gain of 2.75%.
Analysts and investors alike will be keeping a close eye on the performance of M.D.C. Holdings, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on January 30, 2024. On that day, M.D.C. Holdings, Inc. is projected to report earnings of $1.44 per share, which would represent year-over-year growth of 33.33%. At the same time, our most recent consensus estimate is projecting a revenue of $1.29 billion, reflecting a 14.88% fall from the equivalent quarter last year.
Any recent changes to analyst estimates for M.D.C. Holdings, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.6% upward. M.D.C. Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, M.D.C. Holdings, Inc. is currently trading at a Forward P/E ratio of 9.88. This denotes a premium relative to the industry's average Forward P/E of 9.55.
The Building Products - Home Builders industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 18% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MDC in the coming trading sessions, be sure to utilize Zacks.com.
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M.D.C. Holdings, Inc. (MDC) : Free Stock Analysis Report
