M.D.C. Holdings Inc. (MDC) Trading Down 2.5%
M.D.C. Holdings Inc. (NYSE:MDC) shares were down 2.5% during trading on Friday . The company traded as low as $26.31 and last traded at $26.45, with a volume of 228,943 shares changing hands. The stock had previously closed at $27.14.
A number of research analysts have commented on MDC shares. Argus reaffirmed a “hold” rating on shares of M.D.C. Holdings in a report on Tuesday, July 5th. Deutsche Bank AG decreased their price objective on M.D.C. Holdings from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, May 16th. Zacks Investment Research lowered M.D.C. Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Finally, Sterne Agee CRT reaffirmed a “neutral” rating on shares of M.D.C. Holdings in a report on Monday, May 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.58.
The company has a market cap of $1.29 billion and a P/E ratio of 19.23. The stock has a 50 day moving average of $25.14 and a 200-day moving average of $23.64.
M.D.C. Holdings (NYSE:MDC) last posted its earnings results on Thursday, May 5th. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.06. The firm earned $396.70 million during the quarter, compared to the consensus estimate of $431.11 million. During the same quarter in the previous year, the company earned $0.17 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that M.D.C. Holdings Inc. will post $2.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th will be issued a $0.25 dividend. The ex-dividend date is Monday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.80%.
Several hedge funds and institutional investors recently bought and sold shares of MDC. First Trust Advisors LP raised its position in M.D.C. Holdings by 111.8% in the fourth quarter. First Trust Advisors LP now owns 194,785 shares of the company’s stock worth $4,973,000 after buying an additional 102,827 shares in the last quarter. California State Teachers Retirement System raised its position in M.D.C. Holdings by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 72,411 shares of the company’s stock worth $1,849,000 after buying an additional 1,257 shares in the last quarter. Brandes Investment Partners LP raised its position in M.D.C. Holdings by 20.1% in the fourth quarter. Brandes Investment Partners LP now owns 1,100,981 shares of the company’s stock worth $28,108,000 after buying an additional 184,500 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in M.D.C. Holdings by 4.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,062,690 shares of the company’s stock worth $27,130,000 after buying an additional 41,858 shares in the last quarter.
M.DC Holdings, Inc is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes.
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