M.D.C. (NYSE:MDC) announced its quarterly earnings data on Wednesday. The construction company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08, Briefing.com reports. M.D.C. had a net margin of 6.64% and a return on equity of 13.24%. The company had revenue of $732.84 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the prior year, the company posted $1.03 EPS. The business’s revenue was down 2.2% on a year-over-year basis.
Shares of MDC stock traded down $0.14 during mid-day trading on Friday, reaching $36.10. The company’s stock had a trading volume of 377,885 shares, compared to its average volume of 523,568. The firm’s 50-day moving average is $34.97. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.19 and a current ratio of 9.73. M.D.C. has a 1-year low of $25.14 and a 1-year high of $37.86. The company has a market capitalization of $2.22 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.26 and a beta of 1.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, August 6th. M.D.C.’s dividend payout ratio is 32.70%.
In other news, CFO Robert Nathaniel Martin sold 7,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $31.79, for a total value of $222,530.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Larry A. Mizel sold 20,224 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $33.48, for a total transaction of $677,099.52. Following the completion of the sale, the chairman now directly owns 146,182 shares in the company, valued at approximately $4,894,173.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,344 shares of company stock worth $5,544,033. 26.30% of the stock is owned by insiders.
A number of brokerages have recently issued reports on MDC. JPMorgan Chase & Co. upgraded shares of M.D.C. from an “underweight” rating to a “neutral” rating in a research note on Monday, July 8th. ValuEngine cut shares of M.D.C. from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded shares of M.D.C. from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, July 10th. Finally, Wedbush increased their price objective on shares of M.D.C. from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $34.80.
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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