M.D.C. (NYSE:MDC) had its target price increased by Bank of America from $31.00 to $34.00 in a research report sent to investors on Friday morning. They currently have an underperform rating on the construction company’s stock.
Other research analysts also recently issued research reports about the company. ValuEngine downgraded M.D.C. from a strong-buy rating to a buy rating in a research note on Thursday, November 2nd. Citigroup decreased their price target on M.D.C. from $37.00 to $34.00 and set a neutral rating for the company in a research note on Friday, November 3rd. UBS Group reiterated a sell rating and set a $32.00 price target (up previously from $30.00) on shares of M.D.C. in a research note on Wednesday, January 17th. Finally, Zacks Investment Research upgraded M.D.C. from a hold rating to a strong-buy rating and set a $38.00 price target for the company in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $33.50.
M.D.C. (MDC) opened at $29.58 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 10.01 and a quick ratio of 3.34. M.D.C. has a 52 week low of $26.56 and a 52 week high of $37.45. The company has a market capitalization of $1,796.51, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.79 and a beta of 1.34.
M.D.C. (NYSE:MDC) last issued its earnings results on Thursday, February 1st. The construction company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.25). M.D.C. had a net margin of 5.50% and a return on equity of 11.00%. The firm had revenue of $704.26 million during the quarter, compared to analysts’ expectations of $722.48 million. During the same quarter last year, the firm earned $0.78 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. equities research analysts forecast that M.D.C. will post 2.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Tuesday, February 6th. This is an increase from M.D.C.’s previous quarterly dividend of $0.25. M.D.C.’s dividend payout ratio is 37.28%.
In other news, Director Herbert T. Buchwald sold 28,350 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $31.52, for a total transaction of $893,592.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Siegel sold 2,500 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $31.83, for a total value of $79,575.00. The disclosure for this sale can be found here. Corporate insiders own 25.30% of the company’s stock.
A number of large investors have recently made changes to their positions in MDC. Wells Fargo & Company MN boosted its stake in M.D.C. by 5.0% during the 2nd quarter. Wells Fargo & Company MN now owns 60,625 shares of the construction company’s stock valued at $2,142,000 after purchasing an additional 2,904 shares during the period. Teachers Advisors LLC boosted its stake in M.D.C. by 1.9% during the 2nd quarter. Teachers Advisors LLC now owns 75,874 shares of the construction company’s stock valued at $2,681,000 after purchasing an additional 1,409 shares during the period. Ameriprise Financial Inc. boosted its stake in M.D.C. by 6.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 253,975 shares of the construction company’s stock valued at $8,972,000 after purchasing an additional 15,445 shares during the period. Amalgamated Bank bought a new stake in M.D.C. during the 2nd quarter valued at approximately $202,000. Finally, PNC Financial Services Group Inc. boosted its stake in M.D.C. by 7.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,818 shares of the construction company’s stock valued at $381,000 after purchasing an additional 709 shares during the period. Hedge funds and other institutional investors own 73.38% of the company’s stock.
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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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