M.D.C. Holdings, Inc. (MDC) Given Average Recommendation of “Hold” by Brokerages
Shares of M.D.C. Holdings, Inc. (NYSE:MDC) have been assigned an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.33.
MDC has been the subject of a number of research reports. UBS initiated coverage on M.D.C. in a research report on Wednesday, October 25th. They set a “sell” rating and a $34.00 price objective for the company. KeyCorp reissued a “hold” rating on shares of M.D.C. in a research report on Friday, August 25th. Wells Fargo & Company raised M.D.C. from an “underperform” rating to a “market perform” rating and set a $30.00 price objective for the company in a research report on Wednesday, August 30th. They noted that the move was a valuation call. Zacks Investment Research raised M.D.C. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, ValuEngine cut M.D.C. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd.
Several large investors have recently made changes to their positions in MDC. Vanguard Group Inc. lifted its position in shares of M.D.C. by 14.8% in the second quarter. Vanguard Group Inc. now owns 4,347,875 shares of the construction company’s stock worth $153,611,000 after buying an additional 561,481 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of M.D.C. in the second quarter worth about $342,000. JPMorgan Chase & Co. lifted its position in shares of M.D.C. by 120.9% in the third quarter. JPMorgan Chase & Co. now owns 547,871 shares of the construction company’s stock worth $18,020,000 after buying an additional 299,904 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of M.D.C. by 90.6% in the third quarter. Prudential Financial Inc. now owns 583,941 shares of the construction company’s stock worth $19,393,000 after buying an additional 277,580 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its position in shares of M.D.C. by 80,713.5% in the second quarter. Federated Investors Inc. PA now owns 244,865 shares of the construction company’s stock worth $8,651,000 after buying an additional 244,562 shares during the last quarter. 80.09% of the stock is owned by institutional investors.
M.D.C. (NYSE:MDC) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.55. The firm had revenue of $586.30 million during the quarter, compared to analysts’ expectations of $595.05 million. M.D.C. had a return on equity of 11.66% and a net margin of 6.09%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 earnings per share. equities analysts forecast that M.D.C. will post 2.53 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were given a $0.25 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.19%. M.D.C.’s dividend payout ratio is currently 33.37%.
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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