M.D.C. Holdings, Inc. (MDC) Receives $29.00 Average Price Target from Analysts
M.D.C. Holdings, Inc. (NYSE:MDC) has been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $29.00.
MDC has been the subject of several research analyst reports. Citigroup Inc. downgraded M.D.C. Holdings from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 10th. Wells Fargo & Company downgraded M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 target price for the company. in a research note on Tuesday, May 16th. Zacks Investment Research downgraded M.D.C. Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. Bank of America Corporation reiterated an “underperform” rating and set a $27.00 target price (up from $24.00) on shares of M.D.C. Holdings in a research note on Wednesday, June 28th. Finally, BidaskClub upgraded M.D.C. Holdings from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 29th.
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Shares of M.D.C. Holdings (MDC) traded up 0.58% on Tuesday, hitting $31.43. The stock had a trading volume of 718,461 shares. The company has a market cap of $1.63 billion, a PE ratio of 13.32 and a beta of 1.36. M.D.C. Holdings has a 52 week low of $21.25 and a 52 week high of $36.92. The stock’s 50-day moving average price is $33.70 and its 200 day moving average price is $32.49.
M.D.C. Holdings (NYSE:MDC) last issued its earnings results on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. M.D.C. Holdings had a return on equity of 9.25% and a net margin of 4.76%. The company had revenue of $648.97 million during the quarter, compared to the consensus estimate of $623.95 million. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts predict that M.D.C. Holdings will post $2.44 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $1.00 annualized dividend and a yield of 3.18%.
In related news, Director David E. Blackford sold 26,250 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $36.11, for a total value of $947,887.50. Following the completion of the sale, the director now directly owns 40,928 shares in the company, valued at approximately $1,477,910.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MDC. Ameritas Investment Partners Inc. purchased a new stake in M.D.C. Holdings during the first quarter valued at about $108,000. Glen Harbor Capital Management LLC increased its stake in M.D.C. Holdings by 18.8% in the first quarter. Glen Harbor Capital Management LLC now owns 3,876 shares of the construction company’s stock valued at $116,000 after buying an additional 612 shares during the period. Acrospire Investment Management LLC purchased a new stake in M.D.C. Holdings during the first quarter valued at about $125,000. State of Alaska Department of Revenue increased its stake in M.D.C. Holdings by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 4,562 shares of the construction company’s stock valued at $137,000 after buying an additional 100 shares during the period. Finally, Winslow Evans & Crocker Inc. increased its stake in M.D.C. Holdings by 34.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the construction company’s stock valued at $139,000 after buying an additional 1,026 shares during the period. Institutional investors and hedge funds own 81.59% of the company’s stock.
M.D.C. Holdings Company Profile
M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.
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