M.D.C. Holdings Inc. (MDC) Receives Consensus Recommendation of “Hold” from Analysts
Shares of M.D.C. Holdings Inc. (NYSE:MDC) have been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the stock. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $26.50.
Several equities analysts recently weighed in on MDC shares. Wells Fargo & Co. started coverage on shares of M.D.C. Holdings in a research note on Wednesday, September 28th. They issued a “market perform” rating for the company. Citigroup Inc. lifted their price objective on shares of 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 shares of M.D.C. Holdings from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $28.00 to $27.00 in a research report on Monday, August 8th. Zacks Investment Research raised shares of M.D.C. Holdings from a “sell” rating to a “hold” rating and set a $31.00 price objective for the company in a research report on Tuesday, July 19th. Finally, Argus reaffirmed a “hold” rating on shares of M.D.C. Holdings in a research report on Tuesday, July 5th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in M.D.C. Holdings by 65.7% in the first quarter. Royal Bank of Canada now owns 19,268 shares of the company’s stock worth $482,000 after buying an additional 7,639 shares in the last quarter. A.R.T. Advisors LLC boosted its position in M.D.C. Holdings by 66.9% in the first quarter. A.R.T. Advisors LLC now owns 84,826 shares of the company’s stock worth $2,125,000 after buying an additional 34,000 shares in the last quarter. Pinnacle Holdings LLC boosted its position in M.D.C. Holdings by 3.5% in the first quarter. Pinnacle Holdings LLC now owns 33,122 shares of the company’s stock worth $830,000 after buying an additional 1,115 shares in the last quarter. Renaissance Technologies LLC acquired a new position in M.D.C. Holdings during the first quarter worth about $669,000. Finally, Canada Pension Plan Investment Board boosted its position in M.D.C. Holdings by 249.0% in the first quarter. Canada Pension Plan Investment Board now owns 390,200 shares of the company’s stock worth $9,778,000 after buying an additional 278,400 shares in the last quarter. Hedge funds and other institutional investors own 79.09% of the company’s stock.
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Shares of M.D.C. Holdings (NYSE:MDC) traded down 1.81% during trading on Thursday, hitting $23.93. 132,162 shares of the stock were exchanged. The company has a market cap of $1.17 billion, a P/E ratio of 15.95 and a beta of 1.64. M.D.C. Holdings has a 1-year low of $19.28 and a 1-year high of $28.93. The firm’s 50-day moving average is $25.48 and its 200 day moving average is $24.90.
M.D.C. Holdings (NYSE:MDC) last released its earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.06. M.D.C. Holdings had a net margin of 3.62% and a return on equity of 6.09%. The business earned $571.20 million during the quarter, compared to analysts’ expectations of $535.12 million. During the same period last year, the business earned $0.41 earnings per share. The firm’s revenue was up 23.8% on a year-over-year basis. Equities analysts forecast that M.D.C. Holdings will post $2.11 earnings per share for the current fiscal year.
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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