M.D.C. (NYSE:MDC) Shares Gap Up to $53.21

M.D.C. Holdings, Inc. (NYSE:MDC)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $53.21, but opened at $54.84. M.D.C. shares last traded at $56.21, with a volume of 2,067 shares changing hands.

Several research analysts recently issued reports on MDC shares. Raymond James cut their target price on M.D.C. from $79.00 to $77.00 and set a “strong-buy” rating on the stock in a research report on Monday, November 8th. JPMorgan Chase & Co. cut M.D.C. from an “overweight” rating to a “neutral” rating and set a $66.00 target price on the stock. in a research report on Thursday, October 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, M.D.C. currently has an average rating of “Hold” and a consensus target price of $67.75.

The stock has a fifty day moving average of $52.63 and a 200 day moving average of $51.02. The firm has a market capitalization of $3.88 billion, a P/E ratio of 7.20 and a beta of 1.42. The company has a debt-to-equity ratio of 0.75, a current ratio of 8.19 and a quick ratio of 5.68.

M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Thursday, October 28th. The construction company reported $1.99 EPS for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.02). The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.36 billion. M.D.C. had a return on equity of 24.48% and a net margin of 11.14%. The business’s revenue was up 25.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. Equities analysts forecast that M.D.C. Holdings, Inc. will post 8.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 24th. Shareholders of record on Wednesday, November 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, November 9th. This is a positive change from M.D.C.’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a dividend yield of 3.64%. M.D.C.’s payout ratio is presently 26.19%.

In other M.D.C. news, Director David Siegel sold 7,441 shares of the business’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $51.10, for a total value of $380,235.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 23.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MDC. Morgan Stanley raised its stake in shares of M.D.C. by 93.9% in the second quarter. Morgan Stanley now owns 747,189 shares of the construction company’s stock valued at $37,808,000 after buying an additional 361,931 shares during the period. BlackRock Inc. raised its stake in shares of M.D.C. by 2.8% during the 3rd quarter. BlackRock Inc. now owns 11,797,452 shares of the construction company’s stock valued at $551,178,000 after purchasing an additional 321,799 shares during the period. Millennium Management LLC raised its stake in shares of M.D.C. by 1,656.1% during the 2nd quarter. Millennium Management LLC now owns 326,232 shares of the construction company’s stock valued at $16,507,000 after purchasing an additional 307,655 shares during the period. Raymond James & Associates raised its stake in shares of M.D.C. by 71.4% during the 3rd quarter. Raymond James & Associates now owns 665,705 shares of the construction company’s stock valued at $31,102,000 after purchasing an additional 277,403 shares during the period. Finally, FMR LLC raised its stake in shares of M.D.C. by 20.0% during the 2nd quarter. FMR LLC now owns 1,240,446 shares of the construction company’s stock valued at $62,766,000 after purchasing an additional 206,400 shares during the period. Hedge funds and other institutional investors own 69.76% of the company’s stock.

M.D.C. Company Profile (NYSE:MDC)

M.DC Holdings, Inc provides homebuilding and financial services. Its homebuilding operations consist of wholly owned subsidiary companies that generally purchase finished lots or develop lots to the extent necessary for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes.

Further Reading: Example of operating income, EBIT and EBITDA

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