M.D.C. Holdings Inc. (MDC) Shares Down 2.5%
M.D.C. Holdings Inc. (NYSE:MDC) shares fell 2.5% during trading on Friday . The stock traded as low as $26.31 and last traded at $26.45, with a volume of 228,943 shares. The stock had previously closed at $27.14.
Several brokerages have commented on MDC. Zacks Investment Research raised M.D.C. Holdings from a “sell” rating to a “hold” rating and set a $31.00 target price for the company in a research note on Tuesday, July 19th. Argus reissued a “hold” rating on shares of M.D.C. Holdings in a research note on Tuesday, July 5th. Deutsche Bank AG lowered their price objective on M.D.C. Holdings from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, May 16th. Finally, Sterne Agee CRT reaffirmed a “neutral” rating on shares of M.D.C. Holdings in a research note on Monday, May 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $27.58.
The company’s 50 day moving average is $25.14 and its 200 day moving average is $23.64. The company has a market cap of $1.29 billion and a price-to-earnings ratio of 19.23.
M.D.C. Holdings (NYSE:MDC) last issued its earnings results on Thursday, May 5th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.26 by $0.06. During the same period in the prior year, the company posted $0.17 EPS. The business earned $396.70 million during the quarter, compared to analyst estimates of $431.11 million. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts predict that M.D.C. Holdings Inc. will post $2.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 8th. This represents a $1.00 annualized dividend and a yield of 3.80%.
Several hedge funds have modified their holdings of MDC. Brandes Investment Partners LP increased its stake in shares of 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 during the period. Wells Fargo & Company MN increased its stake in shares of 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 during the period. First Trust Advisors LP increased its stake in shares of 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 during the period. Finally, California State Teachers Retirement System increased its stake in shares of 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 during the period.
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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