Notable News to Watch: M.D.C. Holdings, Inc. (NYSE: MDC)

M.D.C. Holdings, Inc. (NYSE: MDC) spotted trading 3.54% off 52-week high price. On the other end, the stock has been noted 82.06% away from the low price over the last 52-weeks. The stock changed 5.24% to recent value of $42.38. The stock transacted 1708774 shares during most recent day however it has an average volume of 455.91K shares. The company has 62M of outstanding shares and 57.39M shares were floated in the market.  

In anticipation of meetings with investors next week, M.D.C. Holdings, Inc. (NYSE: MDC), one of the nation’s leading homebuilders, announced preliminary information regarding the Company’s August 2019 quarter-to-date net new home order activity.

For the first two months of the 2019 third quarter, net new home orders increased 63% year-over-year to 1,418, compared with 868 for the same period in 2018. The increase was driven by a 40% improvement in the monthly sales absorption rate to 3.75 and a 17% increase in the average number of active subdivisions to 189.

Larry A. Mizel, MDC’s Chairman and Chief Executive Officer, stated, “We are pleased with the continued success of our more affordable product lines and distinct build-to-order model. These key strategies, coupled with a notable improvement in our community count, helped to drive a 63% year-over-year increase in net new home orders for the first two months of the 2019 third quarter. With the continued strength in order activity, we believe we are well positioned for a strong close to the 2019 fiscal year.” 

 Its earnings per share (EPS) expected to touch remained 37.70% for this year while earning per share for the next 5-years is expected to reach at 5.80%. MDC has a gross margin of 20.10% and an operating margin of 8.50% while its profit margin remained 6.60% for the last 12 months. 

 The price moved ahead of 12.08% from the mean of 20 days, 14.54% from mean of 50 days SMA and performed 34.76% from mean of 200 days price. Company’s performance for the week was 8.75%, 18.38% for month and YTD performance remained 62.83%.

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