M.D.C. Holdings, Inc. Declares Quarterly Dividend of $0.25 (NYSE:MDC)
M.D.C. Holdings, Inc. (NYSE:MDC) announced a quarterly dividend on Monday, July 24th, RTT News reports. Stockholders of record on Wednesday, August 9th will be given a dividend of 0.25 per share by the construction company on Wednesday, August 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.80%.
M.D.C. Holdings has a payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect M.D.C. Holdings to earn $2.73 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 36.6%.
M.D.C. Holdings (NYSE MDC) traded up 0.17% during midday trading on Monday, hitting $35.67. The stock had a trading volume of 357,218 shares. The company’s 50 day moving average is $35.18 and its 200 day moving average is $31.35. M.D.C. Holdings has a 1-year low of $21.25 and a 1-year high of $36.92. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 15.94 and a beta of 1.36.
M.D.C. Holdings (NYSE:MDC) last released its quarterly earnings results on Tuesday, May 9th. The construction company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. M.D.C. Holdings had a net margin of 4.63% and a return on equity of 8.88%. The company had revenue of $563.70 million during the quarter, compared to the consensus estimate of $503.65 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm’s quarterly revenue was up 42.1% on a year-over-year basis. On average, equities analysts anticipate that M.D.C. Holdings will post $2.51 earnings per share for the current fiscal year.
In other M.D.C. Holdings news, Director Herbert T. Buchwald sold 26,250 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $34.14, for a total transaction of $896,175.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael Touff sold 84,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $34.40, for a total transaction of $2,889,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,750 shares of company stock worth $5,654,775. Insiders own 25.30% of the company’s stock.
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A number of equities research analysts have recently weighed in on MDC shares. Zacks Investment Research downgraded shares of M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Bank of America Corporation reiterated an “underperform” rating and issued a $27.00 price target (up from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Wells Fargo & Company downgraded shares of M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 price target for the company. in a research report on Tuesday, May 16th. BidaskClub raised shares of M.D.C. Holdings from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 29th. Finally, Citigroup Inc. cut shares of M.D.C. Holdings from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 10th. Three analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $29.83.
About M.D.C. Holdings
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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