M.D.C. Holdings, Inc. (MDC) Flat As Market Gains: What You Should Know
M.D.C. Holdings, Inc. (MDC) ended the recent trading session at $62.62, demonstrating no swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.53%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.19%.
Prior to today's trading, shares of the company had gained 11.8% over the past month. This has outpaced the Construction sector's loss of 3.44% and the S&P 500's gain of 2.48% in that time.
The investment community will be closely monitoring the performance of M.D.C. Holdings, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings 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%. In the meantime, our current consensus estimate forecasts the revenue to be $1.29 billion, indicating a 14.88% decline compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for M.D.C. Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. M.D.C. Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, M.D.C. Holdings, Inc. is holding a Forward P/E ratio of 11.63. Its industry sports an average Forward P/E of 9.43, so one might conclude that M.D.C. Holdings, Inc. is trading at a premium comparatively.
The Building Products - Home Builders industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 17, placing it within the top 7% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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M.D.C. Holdings, Inc. (MDC) : Free Stock Analysis Report
