M.D.C. Holdings, Inc. (NYSE:MDC) Receives Average Recommendation of “Hold” from Analysts

M.D.C. Holdings, Inc. (NYSE:MDC) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $68.25.

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered M.D.C. from an “overweight” rating to a “neutral” rating and set a $66.00 target price for the company. in a report on Thursday. Zacks Investment Research lowered M.D.C. from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 8th. Finally, Raymond James reduced their target price on M.D.C. from $80.00 to $79.00 and set a “strong-buy” rating for the company in a report on Thursday, August 19th.

Shares of NYSE:MDC traded down $0.16 on Thursday, reaching $48.21. 6,531 shares of the company traded hands, compared to its average volume of 533,974. M.D.C. has a fifty-two week low of $38.02 and a fifty-two week high of $63.86. The company’s 50 day moving average is $50.25 and its 200-day moving average is $53.65. The stock has a market capitalization of $3.40 billion, a PE ratio of 6.86 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 7.56 and a quick ratio of 2.04.

M.D.C. (NYSE:MDC) last announced its quarterly earnings data on Thursday, July 29th. The construction company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.13. M.D.C. had a return on equity of 23.64% and a net margin of 10.77%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.35 billion. As a group, analysts expect that M.D.C. will post 8.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 25th. Stockholders of record on Wednesday, August 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, August 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. M.D.C.’s payout ratio is currently 30.95%.

In other news, Director David Siegel sold 6,210 shares of the company’s stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $52.39, for a total value of $325,341.90. Following the transaction, the director now directly owns 16,532 shares of the company’s stock, valued at $866,111.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Nathaniel Martin sold 2,309 shares of the company’s stock in a transaction on Thursday, August 12th. The stock was sold at an average price of $52.25, for a total transaction of $120,645.25. The disclosure for this sale can be found here. Insiders sold 18,076 shares of company stock worth $933,681 over the last ninety days. 23.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. CoreFirst Bank & Trust increased its position in M.D.C. by 8.0% during the first quarter. CoreFirst Bank & Trust now owns 2,412 shares of the construction company’s stock worth $143,000 after buying an additional 179 shares during the last quarter. Federated Hermes Inc. increased its position in M.D.C. by 140.7% during the first quarter. Federated Hermes Inc. now owns 438 shares of the construction company’s stock worth $26,000 after buying an additional 256 shares during the last quarter. Berman Capital Advisors LLC increased its position in M.D.C. by 73.0% during the second quarter. Berman Capital Advisors LLC now owns 628 shares of the construction company’s stock worth $31,000 after buying an additional 265 shares during the last quarter. Profund Advisors LLC increased its position in M.D.C. by 4.8% during the second quarter. Profund Advisors LLC now owns 6,724 shares of the construction company’s stock worth $339,000 after buying an additional 307 shares during the last quarter. Finally, Teza Capital Management LLC increased its position in M.D.C. by 7.3% during the second quarter. Teza Capital Management LLC now owns 4,877 shares of the construction company’s stock worth $247,000 after buying an additional 333 shares during the last quarter. 71.79% of the stock is currently owned by hedge funds and other institutional investors.

About M.D.C.

M.DC Holdings, Inc provides homebuilding and financial services. Its homebuilding operations consist of wholly owned subsidiary companies that generally purchase finished lots or develop lots to the extent necessary 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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Analyst Recommendations for M.D.C. (NYSE:MDC)

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