M.D.C. Holdings (MDC) Releases Earnings Results, Beats Expectations By $0.06 EPS

M.D.C. Holdings (MDC) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.55 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.49. The company posted revenue of $571.50 million in the period, compared to analysts expectations of $549.89 million. The company’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

M.D.C. Holdings closed down -0.48 points or -1.82% at $25.84 with 3,55,000 shares getting traded on Tusday. Post opening the session at $26.3, the shares hit an intraday low of $25.74 and an intraday high of $26.34 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

Investors should note that on Jul 25, 2016, M.D.C. Holdings announced a cash dividend of $0.2500. The company’s management has announced Aug 8, 2016 as the ex-dividend date and fixed the record date on Aug 10, 2016. The payable date has been fixed on Aug 24, 2016.

In a different news, on Feb 6, 2015, John Martin Stephens (SVP, CFO, PAO) sold 1,748 shares at $26.69 per share price.

M.D.C. Holdings Inc. (MDC) is engaged in two primary operations homebuilding and financial services. The Company’s homebuilding operations consist of wholly owned subsidiary companies that purchase finished lots or develop lots to the extent necessary for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes. The Company’s homebuilding operations consist of various homebuilding divisions. Its financial services operations consist of HomeAmerican Mortgage Corporation (HomeAmerican); Allegiant Insurance Company Inc. (Allegiant); StarAmerican Insurance Ltd.; American Home Insurance Agency Inc. and American Home Title and Escrow Company which provides title agency services to its homebuilding subsidiaries and its customers in certain states.

M.D.C. Holdings

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