M.D.C. Holdings Inc. (MDC) Downgraded by Zacks Investment Research to “Hold”
M.D.C. Holdings Inc. (NYSE:MDC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “M.D.C. HOLDINGS, INC. is engaged in the construction, sale and related financing of residential housing and the acquisition and development of land for use in its homebuilding activities and sale to others, in the Denver, Phoenix, Maryland, Virginia, mid Atlantic region, Las Vegas, Dallas, California metropolitan areas. They are also is involved in real estate brokerage, property management, condominium conversions and fee construction of apartment and commercial buildings. “
Several other research firms have also recently issued reports on MDC. Citigroup Inc. increased their target price on M.D.C. Holdings from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Deutsche Bank AG cut M.D.C. Holdings from a “buy” rating to a “hold” rating and cut their target price for the stock from $28.00 to $27.00 in a research report on Monday, August 8th. Argus reiterated a “hold” rating on shares of M.D.C. Holdings in a research report on Tuesday, July 5th. Finally, Wells Fargo & Co. started coverage on M.D.C. Holdings in a research report on Wednesday, September 28th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $27.25.
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M.D.C. Holdings (NYSE:MDC) opened at 24.79 on Tuesday. M.D.C. Holdings has a 1-year low of $19.28 and a 1-year high of $28.93. The stock’s 50 day moving average price is $25.57 and its 200 day moving average price is $24.91. The stock has a market capitalization of $1.22 billion, a PE ratio of 16.53 and a beta of 1.64.
M.D.C. Holdings (NYSE:MDC) last released its earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.06. M.D.C. Holdings had a return on equity of 6.09% and a net margin of 3.62%. The firm earned $571.20 million during the quarter, compared to analysts’ expectations of $535.12 million. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue was up 23.8% on a year-over-year basis. On average, equities research analysts predict that M.D.C. Holdings will post $2.11 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of MDC. Oppenheimer & Co. Inc. raised its stake in M.D.C. Holdings by 0.7% in the second quarter. Oppenheimer & Co. Inc. now owns 32,676 shares of the company’s stock valued at $795,000 after buying an additional 225 shares during the last quarter. California State Teachers Retirement System raised its stake in M.D.C. Holdings by 0.3% in the second quarter. California State Teachers Retirement System now owns 83,005 shares of the company’s stock valued at $2,020,000 after buying an additional 243 shares during the last quarter. Arizona State Retirement System raised its stake in M.D.C. Holdings by 1.8% in the second quarter. Arizona State Retirement System now owns 20,400 shares of the company’s stock valued at $497,000 after buying an additional 367 shares during the last quarter. BlackRock Advisors LLC raised its stake in M.D.C. Holdings by 3.3% in the second quarter. BlackRock Advisors LLC now owns 18,558 shares of the company’s stock valued at $452,000 after buying an additional 590 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in M.D.C. Holdings by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 5,446 shares of the company’s stock valued at $133,000 after buying an additional 663 shares during the last quarter. 79.09% of the stock is owned by institutional investors and hedge funds.
M.D.C. Holdings Company Profile
M.DC Holdings, Inc is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots 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.
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