M.D.C. Holdings, Inc. (NYSE:MDC) declared a quarterly dividend on Monday, July 24th, RTT News reports. Shareholders of record on Wednesday, August 9th will be paid a dividend of 0.25 per share by the construction company on Wednesday, August 23rd. This represents a $1.00 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, August 7th.
M.D.C. Holdings has a payout ratio of 40.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect M.D.C. Holdings to earn $2.78 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 36.0%.
Shares of M.D.C. Holdings (NYSE:MDC) traded up 0.18% on Friday, reaching $32.58. 786,170 shares of the company’s stock traded hands. M.D.C. Holdings has a 52 week low of $22.31 and a 52 week high of $36.92. The company has a 50 day moving average price of $35.14 and a 200 day moving average price of $32.05. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 13.81 and a beta of 1.36.
M.D.C. Holdings (NYSE:MDC) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The company had revenue of $648.97 million for the quarter, compared to the consensus estimate of $623.95 million. During the same period in the previous year, the firm earned $0.55 EPS. M.D.C. Holdings’s revenue was up 13.6% on a year-over-year basis. On average, equities research analysts predict that M.D.C. Holdings will post $2.43 earnings per share for the current fiscal year.
In other news, Director David E. Blackford sold 26,250 shares of M.D.C. Holdings stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total value of $947,887.50. Following the transaction, the director now owns 40,928 shares of the company’s stock, valued at approximately $1,477,910.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael A. Berman sold 52,500 shares of M.D.C. Holdings stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $35.60, for a total transaction of $1,869,000.00. The disclosure for this sale can be found here. Insiders sold a total of 189,000 shares of company stock worth $6,602,663 in the last ninety days. Corporate insiders own 25.30% of the company’s stock.
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MDC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Thursday, June 29th. BidaskClub downgraded shares of M.D.C. Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG boosted their price target on shares of M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Citigroup Inc. downgraded shares of M.D.C. Holdings from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 10th. Finally, Bank of America Corporation restated an “underperform” rating and set a $27.00 price target (up from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $31.20.
About M.D.C. Holdings
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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