Earnings Estimates

Target Price Summary

Current Trading Price: $ 35.75

Mean:	$ 40.33
Median:	$ 41.00
High:	$ 46.00
Low:	$ 33.00

* 9 analysts reported target price for M.D.C. Holdings, Inc.

Current Recommendations

Consensus Rating: OUTPERFORM (11 total analysts)

Analyst Estimates

Earnings Per Share	Current Quarter Mar 2010	Next Quarter Jun 2010	Current Year Dec 2010	Next Year Dec 2011
Consensus	$ -0.33	$ -0.14	$ -0.60	$ 0.51
High	$ -0.15	$ 0.15	$ 0.04	$ 1.81
Low	$ -0.52	$ -0.27	$ -0.95	$ 0.05
P/E	N/A	N/A	N/A	70.50
Year Ago EPS	$ -0.88	$ -0.64	$ 0.52	$ -0.60
Number of Analyst(s)	11	10	11	9
Revision(s) Up Last 30 Days	4	5	6	2
Revision(s) Down Last 30 Days	3	2	1	2

Estimate Analysis

Disclaimer: Average earnings estimates are calculated by FactSet based on their earnings projections made by the analysts who cover M.D.C. Holdings, Inc. Please note that any opinions, estimates or forecasts regarding M.D.C. Holdings, Inc.'s performance made by these analysts (and therefore the average estimate numbers) are theirs and do not represent opinions, forecasts or predictions of M.D.C. Holdings, Inc. or its management. M.D.C. Holdings, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

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