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M.D.C. Holdings, Inc. (MDC) Soars 18.4%: Is Further Upside Left in the Stock?
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M.D.C. Holdings, Inc. shares rallied 18.4% in the last trading session to close at $62.84. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.2% gain over the past four weeks.
Positive investor sentiments were witnessed after the news floated that a top-tier house manufacturer in Japan — Sekisui House, Ltd. — intends to acquire MDC. A wholly-owned subsidiary of Sekisui House has signed a definitive agreement to acquire MDC in an all-cash transaction with an equity value of $4.9 billion.
This company is expected to post quarterly earnings of $1.44 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $1.29 billion, down 14.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For M.D.C. Holdings, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MDC going forward to see if this recent jump can turn into more strength down the road.
M.D.C. Holdings, Inc. belongs to the Zacks Building Products - Home Builders industry. Another stock from the same industry, D.R. Horton (DHI - Free Report) , closed the last trading session 0.4% higher at $152.53. Over the past month, DHI has returned 1.7%.
D.R. Horton's consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $2.88. Compared to the company's year-ago EPS, this represents a change of +4.4%. D.R. Horton currently boasts a Zacks Rank of #3 (Hold).
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M.D.C. Holdings, Inc. (MDC) Soars 18.4%: Is Further Upside Left in the Stock?
M.D.C. Holdings, Inc. shares rallied 18.4% in the last trading session to close at $62.84. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.2% gain over the past four weeks.
Positive investor sentiments were witnessed after the news floated that a top-tier house manufacturer in Japan — Sekisui House, Ltd. — intends to acquire MDC. A wholly-owned subsidiary of Sekisui House has signed a definitive agreement to acquire MDC in an all-cash transaction with an equity value of $4.9 billion.
This company is expected to post quarterly earnings of $1.44 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $1.29 billion, down 14.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For M.D.C. Holdings, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MDC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
M.D.C. Holdings, Inc. belongs to the Zacks Building Products - Home Builders industry. Another stock from the same industry, D.R. Horton (DHI - Free Report) , closed the last trading session 0.4% higher at $152.53. Over the past month, DHI has returned 1.7%.
D.R. Horton's consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $2.88. Compared to the company's year-ago EPS, this represents a change of +4.4%. D.R. Horton currently boasts a Zacks Rank of #3 (Hold).