M.D.C. Holdings, Inc. (MDC) Given New $34.00 Price Target at Citigroup Inc.
M.D.C. Holdings, Inc. (NYSE:MDC) had its price objective cut by equities researchers at Citigroup Inc. from $37.00 to $34.00 in a report released on Friday. The firm currently has a “neutral” rating on the construction company’s stock. Citigroup Inc.’s price target indicates a potential upside of 2.56% from the stock’s previous close.
A number of other analysts also recently weighed in on MDC. ValuEngine downgraded shares of M.D.C. Holdings from a “strong-buy” rating to a “buy” rating in a research report on Thursday. UBS AG began coverage on shares of M.D.C. Holdings in a research report on Wednesday, October 25th. They issued a “sell” rating and a $34.00 price target on the stock. KeyCorp reiterated a “hold” rating on shares of M.D.C. Holdings in a research report on Tuesday, September 26th. Zacks Investment Research upgraded shares of M.D.C. Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, BidaskClub downgraded shares of M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.67.
M.D.C. Holdings (MDC) traded down $4.14 during midday trading on Friday, hitting $33.15. The stock had a trading volume of 1,002,485 shares, compared to its average volume of 512,009. The stock has a market cap of $1.70 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.13 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 9.45 and a quick ratio of 2.71.
M.D.C. Holdings (NYSE:MDC) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.55. The business had revenue of $586.30 million for the quarter, compared to the consensus estimate of $595.05 million. M.D.C. Holdings had a net margin of 6.09% and a return on equity of 11.66%. M.D.C. Holdings’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS. sell-side analysts expect that M.D.C. Holdings will post 2.43 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Winslow Evans & Crocker Inc. increased its stake in M.D.C. Holdings by 34.0% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the construction company’s stock worth $139,000 after purchasing an additional 1,026 shares in the last quarter. Amalgamated Bank bought a new stake in M.D.C. Holdings during the 2nd quarter worth approximately $202,000. Parsec Financial Management Inc. bought a new stake in M.D.C. Holdings during the 2nd quarter worth approximately $208,000. Capital Fund Management S.A. bought a new stake in M.D.C. Holdings during the 2nd quarter worth approximately $223,000. Finally, HighTower Advisors LLC increased its stake in M.D.C. Holdings by 11.4% during the 1st quarter. HighTower Advisors LLC now owns 9,311 shares of the construction company’s stock worth $274,000 after purchasing an additional 951 shares in the last quarter. 80.45% 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, 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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