M.D.C. (NYSE:MDC) had its target price reduced by Wedbush from $34.00 to $31.00 in a research report released on Friday morning. They currently have a neutral rating on the construction company’s stock. Wedbush also issued estimates for M.D.C.’s Q4 2018 earnings at $1.19 EPS, FY2018 earnings at $3.90 EPS, Q1 2019 earnings at $0.68 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.18 EPS and FY2020 earnings at $4.33 EPS.
Several other research firms also recently commented on MDC. Zacks Investment Research downgraded M.D.C. from a strong-buy rating to a hold rating in a report on Wednesday, July 18th. ValuEngine upgraded M.D.C. from a sell rating to a hold rating in a report on Wednesday, July 18th. JPMorgan Chase & Co. upgraded M.D.C. from an underweight rating to a neutral rating and set a $36.00 price target on the stock in a report on Friday, July 13th. Finally, Bank of America upgraded M.D.C. from an underperform rating to a buy rating and boosted their price target for the company from $36.00 to $42.00 in a report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. M.D.C. has an average rating of Hold and an average price target of $33.71.
Shares of MDC traded up $0.65 during trading hours on Friday, hitting $30.15. The company had a trading volume of 9,386 shares, compared to its average volume of 539,582. The company has a market cap of $1.66 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.43 and a beta of 1.40. The company has a current ratio of 9.55, a quick ratio of 2.45 and a debt-to-equity ratio of 0.70. M.D.C. has a 52-week low of $25.14 and a 52-week high of $36.33.
M.D.C. (NYSE:MDC) last released its quarterly earnings data on Thursday, November 1st. The construction company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.02). The company had revenue of $766.03 million during the quarter, compared to analysts’ expectations of $778.62 million. M.D.C. had a return on equity of 12.96% and a net margin of 6.21%. The firm’s quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 EPS. Equities research analysts forecast that M.D.C. will post 3.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be issued 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 3.98%. M.D.C.’s dividend payout ratio is presently 46.51%.
In related news, Chairman Larry A. Mizel sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $33.15, for a total transaction of $331,500.00. Following the transaction, the chairman now owns 121,867 shares in the company, valued at approximately $4,039,891.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Larry A. Mizel sold 20,000 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $32.62, for a total value of $652,400.00. Following the transaction, the chairman now owns 131,867 shares in the company, valued at approximately $4,301,501.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,000 shares of company stock worth $1,637,300. 27.00% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in shares of M.D.C. by 8.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 20,741 shares of the construction company’s stock worth $639,000 after acquiring an additional 1,661 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of M.D.C. by 5.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 34,766 shares of the construction company’s stock worth $1,070,000 after purchasing an additional 1,800 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of M.D.C. by 4.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 42,127 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 1,800 shares in the last quarter. American Century Companies Inc. boosted its position in shares of M.D.C. by 1.3% in the 3rd quarter. American Century Companies Inc. now owns 143,638 shares of the construction company’s stock worth $4,249,000 after purchasing an additional 1,906 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of M.D.C. by 11.7% in the 1st quarter. Royal Bank of Canada now owns 19,791 shares of the construction company’s stock worth $553,000 after purchasing an additional 2,073 shares in the last quarter. Institutional investors own 77.55% of the company’s stock.
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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