We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
MDC's Richmond American Homes Unveils Model Homes in Aurora
Read MoreHide Full Article
M.D.C. Holdings, Inc.’s subsidiary unit, Richmond American Homes of Colorado’s Boston and Chicago model homes debuted at Aurora under the Urban Collection at Copperleaf.
The homes under the Urban Collection offer two-paired floor plans stretching up to approx. 1,470 sq. ft., starting from $400s. The homes emanate contemporary designs, which house three bedrooms, an inviting layout and a low-maintenance yard. Also, quick move-in homes are available.
The distinctive model homes at Urban Collection at Copperleaf are available for touring on Oct 21.
Increasing Demand Boosts Growth Prospects
Shares of M.D.C. Holdings have gained 22.8% year to date compared with the Zacks Building Products - Home Builders industry’s 30.1% rise. Although the company’s shares have underperformed its industry, the current housing market scenario will back its growth trend in the upcoming period.
Image Source: Zacks Investment Research
Notably, this new home construction company’s earnings estimates for the to-be-reported quarter have increased to $1.18 per share from $1.17 per share in the past 30 days. Solidifying this prospect, it portrays a VGM Score of A, backed by a Value Score of A, a Growth Score of B and a Momentum Score of A.
The company is benefiting from the current housing market scenario, which portrays increasing demand for new homes due to the lack of existing homes supply. This homebuilding company is gaining notably despite the ongoing uncertain economic conditions.
Attributable to the above-mentioned tailwind, in second-quarter 2023, MDC’s net new orders notably grew 54.3% year over year to 2,167 units. Simultaneously, the value of net orders increased 36.8% from the year-ago quarter’s levels to $1.21 billion. This upward trend was again backed by a reduction in cancellations. Cancellations, as a percentage of gross sales, decreased to 20.2% from 37.2%, year over year. Furthermore, the monthly absorption rate also increased by 34% from the prior-year period.
Zacks Rank
M.D.C. Holdings currently sports a Zacks Rank #1 (Strong Buy).
IBP delivered a trailing four-quarter earnings surprise of 5.5%, on average. Shares of the company have risen 38.4% in the past year. The Zacks Consensus Estimate for IBP’s 2023 sales and earnings per share (EPS) indicates growth of 4.7% and 8.6%, respectively, from the previous year’s reported levels.
Construction Partners currently sports a Zacks Rank of 1. ROAD delivered a trailing four-quarter earnings surprise of 10.6%, on average. Shares of the company have gained 33.4% in the past year.
The Zacks Consensus Estimate for ROAD’s fiscal 2024 sales and EPS indicates growth of 14.6% and 47.1%, respectively, from the previous year’s reported levels.
Toll Brothers currently sports a Zacks Rank of 1. TOL delivered a trailing four-quarter earnings surprise of 31.4%, on average. Shares of the company have surged 66.3% in the past year.
The Zacks Consensus Estimate for TOL’s fiscal 2024 sales and EPS indicates growth of 4% and 1.5%, respectively, from the previous year’s reported levels.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
MDC's Richmond American Homes Unveils Model Homes in Aurora
M.D.C. Holdings, Inc.’s subsidiary unit, Richmond American Homes of Colorado’s Boston and Chicago model homes debuted at Aurora under the Urban Collection at Copperleaf.
The homes under the Urban Collection offer two-paired floor plans stretching up to approx. 1,470 sq. ft., starting from $400s. The homes emanate contemporary designs, which house three bedrooms, an inviting layout and a low-maintenance yard. Also, quick move-in homes are available.
The distinctive model homes at Urban Collection at Copperleaf are available for touring on Oct 21.
Increasing Demand Boosts Growth Prospects
Shares of M.D.C. Holdings have gained 22.8% year to date compared with the Zacks Building Products - Home Builders industry’s 30.1% rise. Although the company’s shares have underperformed its industry, the current housing market scenario will back its growth trend in the upcoming period.
Image Source: Zacks Investment Research
Notably, this new home construction company’s earnings estimates for the to-be-reported quarter have increased to $1.18 per share from $1.17 per share in the past 30 days. Solidifying this prospect, it portrays a VGM Score of A, backed by a Value Score of A, a Growth Score of B and a Momentum Score of A.
The company is benefiting from the current housing market scenario, which portrays increasing demand for new homes due to the lack of existing homes supply. This homebuilding company is gaining notably despite the ongoing uncertain economic conditions.
Attributable to the above-mentioned tailwind, in second-quarter 2023, MDC’s net new orders notably grew 54.3% year over year to 2,167 units. Simultaneously, the value of net orders increased 36.8% from the year-ago quarter’s levels to $1.21 billion. This upward trend was again backed by a reduction in cancellations. Cancellations, as a percentage of gross sales, decreased to 20.2% from 37.2%, year over year. Furthermore, the monthly absorption rate also increased by 34% from the prior-year period.
Zacks Rank
M.D.C. Holdings currently sports a Zacks Rank #1 (Strong Buy).
Other Key Picks
Some top-ranked stocks from the Construction sector are Installed Building Products, Inc. (IBP - Free Report) , Construction Partners, Inc. (ROAD - Free Report) and Toll Brothers, Inc. (TOL - Free Report) .
Installed Building currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
IBP delivered a trailing four-quarter earnings surprise of 5.5%, on average. Shares of the company have risen 38.4% in the past year. The Zacks Consensus Estimate for IBP’s 2023 sales and earnings per share (EPS) indicates growth of 4.7% and 8.6%, respectively, from the previous year’s reported levels.
Construction Partners currently sports a Zacks Rank of 1. ROAD delivered a trailing four-quarter earnings surprise of 10.6%, on average. Shares of the company have gained 33.4% in the past year.
The Zacks Consensus Estimate for ROAD’s fiscal 2024 sales and EPS indicates growth of 14.6% and 47.1%, respectively, from the previous year’s reported levels.
Toll Brothers currently sports a Zacks Rank of 1. TOL delivered a trailing four-quarter earnings surprise of 31.4%, on average. Shares of the company have surged 66.3% in the past year.
The Zacks Consensus Estimate for TOL’s fiscal 2024 sales and EPS indicates growth of 4% and 1.5%, respectively, from the previous year’s reported levels.