M.D.C. Holdings, Inc. (MDC) Declares Quarterly Dividend of $0.25
M.D.C. Holdings, Inc. (NYSE:MDC) announced a quarterly dividend on Monday, October 23rd, RTT News reports. Shareholders of record on Wednesday, November 8th will be given a dividend of 0.25 per share by the construction company on Wednesday, November 22nd. This represents a $1.00 annualized dividend and a yield of 2.74%.
M.D.C. Holdings has a payout ratio of 41.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect M.D.C. Holdings to earn $2.75 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 36.4%.
M.D.C. Holdings (NYSE MDC) traded up 0.33% on Monday, reaching $36.46. 234,963 shares of the company traded hands. The stock has a market capitalization of $1.89 billion, a PE ratio of 15.45 and a beta of 1.34. M.D.C. Holdings has a one year low of $21.25 and a one year high of $36.96. The firm has a 50 day moving average of $33.39 and a 200-day moving average of $33.49.
M.D.C. Holdings (NYSE:MDC) last posted its earnings results on Tuesday, August 1st. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $648.97 million for the quarter, compared to analysts’ expectations of $623.95 million. During the same period in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was up 13.6% compared to the same quarter last year. On average, analysts anticipate that M.D.C. Holdings will post $2.67 EPS for the current year.
Several equities research analysts recently weighed in on MDC shares. Zacks Investment Research cut M.D.C. Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. KeyCorp reissued a “hold” rating on shares of M.D.C. Holdings in a research note on Friday, August 25th. BidaskClub cut M.D.C. Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Deutsche Bank AG increased their target price on M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, Bank of America Corporation reissued an “underperform” rating and issued a $27.00 target price (up from $24.00) on shares of M.D.C. Holdings in a research note on Wednesday, June 28th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $29.00.
In other M.D.C. Holdings news, Director David E. Blackford sold 26,250 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $36.11, for a total value of $947,887.50. Following the transaction, the director now owns 40,928 shares of the company’s stock, valued at $1,477,910.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 25.30% of the stock is currently owned by corporate insiders.
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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