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July 8, 2019, 7:54 a.m. EDT

M.D.C. Holdings stock set to rally after new home orders, deliveries results

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By Tomi Kilgore

Shares of M.D.C. Holdings Inc. /zigman2/quotes/203145113/composite MDC +3.67% were indicated up nearly 3% in premarket trading Monday, after the home builder reported some preliminary second-quarter results that were above expectations. The company said net new home orders increased 32% from a year ago to 2,273, well above the FactSet consensus of 1,791, while deliveries inched up 0.1% to 1,514 to beat expectations of a 0.7% decline to 1,501. The average sales price of new orders was about $484,000. Homes in backlog increased 7% to 4,293, the most since 2006, while the FactSet consensus was for a 4.4% decline to 3,824. Gross margins are expected to exceed 19%, compared with the FactSet consensus for homebuilder gross margin of 18.8%. Full second-quarter results will be released on July 31. The stock has rallied 6.8% over the past three months, while the SPDR S&P Homebuilders ETF /zigman2/quotes/202739297/composite XHB +1.43% has gained 4.2% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.40% has advanced 3.3%.

/zigman2/quotes/203145113/composite
US : U.S.: NYSE
$ 44.06
+1.56 +3.67%
Volume: 571,006
Aug. 12, 2020 4:00p
P/E Ratio
10.79
Dividend Yield
3.00%
Market Cap
$2.69 billion
Rev. per Employee
$1.91M
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/zigman2/quotes/202739297/composite
US : U.S.: NYSE Arca
$ 52.33
+0.74 +1.43%
Volume: 2.35M
Aug. 12, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,380.35
+46.66 +1.40%
Volume: 2.25B
Aug. 12, 2020 5:10p
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