M.D.C. (NYSE:MDC) issued its quarterly earnings results on Thursday. The construction company reported $0.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.02), MarketWatch Earnings reports. The company had revenue of $766.03 million for the quarter, compared to analyst estimates of $778.62 million. M.D.C. had a return on equity of 13.82% and a net margin of 6.91%. The firm’s quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter last year, the company earned $1.07 EPS.
M.D.C. stock opened at $28.96 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.49 and a current ratio of 9.59. M.D.C. has a 1 year low of $25.14 and a 1 year high of $37.45. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 0.41 and a beta of 1.43.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.20 dividend on an annualized basis and a yield of 4.14%. M.D.C.’s payout ratio is presently 46.51%.
In other M.D.C. news, Chairman Larry A. Mizel sold 20,000 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $32.62, for a total transaction of $652,400.00. Following the transaction, the chairman now directly owns 131,867 shares in the company, valued at approximately $4,301,501.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Larry A. Mizel sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $33.15, for a total transaction of $331,500.00. Following the completion of the sale, the chairman now owns 121,867 shares in the company, valued at $4,039,891.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $1,637,300. Corporate insiders own 27.00% of the company’s stock.
MDC has been the topic of a number of research reports. Zacks Investment Research downgraded shares of M.D.C. from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. ValuEngine downgraded shares of M.D.C. from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. Bank of America upgraded shares of M.D.C. from an “underperform” rating to a “buy” rating and upped their target price for the company from $36.00 to $42.00 in a research report on Thursday, August 2nd. Finally, JPMorgan Chase & Co. downgraded shares of M.D.C. from a “neutral” rating to an “underweight” rating and cut their target price for the company from $38.00 to $32.00 in a research report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. M.D.C. currently has an average rating of “Hold” and an average target price of $34.00.
M.D.C. Company Profile
M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.
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