Melcor’s third-quarter EPS was C$0.59. The supplied calendar has no estimate for comparison, so there’s no basis to call it a beat or miss. Other results were mixed: revenue and funds from operations fell, while net income rose and the dividend stayed the same.
Melcor Developments Ltd. (TSX: MRD) reported results after market close on November 3 for the quarter ended September 30, 2026. Calendar data lists EPS of C$0.59 but provides no estimate. Supplemental reports show revenue fell 16.7% year over year to C$60.42 million and funds from operations (FFO) fell 27% to C$17.09 million. Net income rose 25.9% to C$17.75 million. The company declared a quarterly dividend of C$0.15 per share. See the MRD stock page for more company details.
Recent earnings trend
Melcor Developments Ltd.
MRD.TO
MRD.TO
Melcor Developments Ltd.
WealthAwesomeMarket cap
$567.91M
P/E
6.1x
Div. yield
2.53%
Div. / share
$0.48
52W high
$19.40
52W low
$13.77
1W change
+0.74%
Beta
1.02
Analyst Price Targets
Based on analyst covering MRD · as of Sep 17, 2026
Wall Street analysts forecast MRD stock price to fall 26.3% over the next 12 months.
Consensus
BearishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$14.00
-26.3% Upside
Current Price
C$19.00
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on MRD's historical volatility
30-Day Vol
14.8%
Annualized
90-Day Vol
17.3%
Annualized
Trend (90d)
+12.3%
Annualized drift
90d Mean
C$19.86
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$19.28 | C$18.32 – C$20.29 |
| 60 trading days | C$19.57 | C$18.20 – C$21.04 |
| 90 trading days | C$19.86 | C$18.17 – C$21.70 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-03 | 0.5900 | — | — |
| 2026-06-30 | 2026-08-13 | 0.7319 | — | — |
| 2026-03-31 | 2026-05-07 | 0.7600 | — | — |
| 2025-12-31 | 2026-03-12 | 1.0515 | — | — |
| 2025-09-30 | 2025-11-06 | 0.4681 | — | — |
| 2025-06-30 | 2025-08-14 | 0.2404 | — | — |
Investor takeaway: The quarter was mixed. Revenue and FFO declined, while net income increased and the C$0.15 dividend was maintained. Melcor also said it had sold four properties so far in 2026 as part of a plan to sell non-core assets and reduce debt. Investors may want to consider how those sales affect recurring cash flow and debt, rather than viewing higher net income alone as evidence of stronger ongoing operations. The supplied figures don’t include a quarterly margin breakdown or management guidance.
C$17.09 million
Quarterly FFO was C$17.09 million, down 27% year over year, according to supplemental coverage. FFO is useful to consider alongside net income for a property developer. The supplied information doesn’t include a reconciliation or a company-defined per-share figure.
Bull case
Melcor remained profitable based on the supplied figures, with a 26.63% profit margin and trailing-twelve-month EPS of C$3.13. The company maintained its quarterly dividend at C$0.15 per share, equal to an indicated yield of 2.53% in the provided snapshot. Property sales and the focus on debt reduction could give the company more balance-sheet flexibility, though the available information doesn’t quantify the effect. At the latest close of C$19.00, the share price was above its 50-day and 200-day moving averages. That’s a snapshot, not a forecast.
Bear case
Revenue and FFO fell year over year. Supplemental reports also show year-to-date revenue down 24.9% and FFO down 35.5%, with lower U.S. land sales contributing to the operating backdrop. Melcor beat estimates in one of the last four quarters with comparable data. But there’s no EPS estimate for this quarter, so it can’t be scored as a beat or miss. The average analyst target is C$14.00, compared with the latest close of C$19.00, implying 26.3% downside. The target-based consensus is labelled bearish, but formal ratings aren’t available for this Canadian listing. See the analyst target details.
Analysis
Melcor reported calendar EPS of C$0.59 for the quarter ended September 30. No estimate was supplied, so there’s no supported comparison with expectations. Historical data shows one beat among the last four quarters with comparable estimates, but that doesn’t show whether this quarter exceeded expectations. Supplemental coverage reports revenue of C$60.42 million, down 16.7% year over year, and FFO of C$17.09 million, down 27%. Net income rose 25.9% to C$17.75 million. These results moved in different directions, so it’s useful to distinguish bottom-line earnings from property cash-flow measures. The recent earnings trend table and chart provide historical context; the figures here focus on this quarter.
Analysis
Melcor said it had sold four properties so far in 2026 as part of a plan to sell non-core assets and reduce debt. Supplemental coverage also reports that year-to-date revenue fell 24.9% and FFO fell 35.5%, with lower U.S. land sales noted in the company release. The company declared a quarterly dividend of C$0.15 per share. Visit the MRD stock page for company and market information. For details on sale proceeds, debt changes and recurring operations, consult the company’s financial statements and MD&A.
Analysis
The average analyst price target is C$14.00, compared with the latest close of C$19.00. That implies a 26.3% decline to the average target. The target-based consensus is labelled bearish, while formal ratings aren’t available for this Canadian listing. See the analyst price-target section. Wealth Awesome’s statistical 90-day model gives a mean forecast of C$19.86, with a 68% range of C$18.17–C$21.70 and a 95% range of C$16.63–C$23.71. This is a statistical model, not financial advice or a guaranteed outcome. See the price forecast section for details.
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