M.D.C. Holdings Inc. (MDC) Trading 2.9% Higher
M.D.C. Holdings Inc. (NYSE:MDC) shares traded up 2.9% on Tuesday . The company traded as high as $26.51 and last traded at $26.32, with a volume of 128,651 shares trading hands. The stock had previously closed at $25.57.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded M.D.C. Holdings from a “sell” rating to a “hold” rating and set a $31.00 price target for the company in a research note on Tuesday, July 19th. Deutsche Bank AG downgraded M.D.C. Holdings from a “buy” rating to a “hold” rating and decreased their price target for the company from $28.00 to $27.00 in a research note on Monday, August 8th. Citigroup Inc. raised their price target on M.D.C. Holdings from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Argus restated a “hold” rating on shares of M.D.C. Holdings in a research note on Tuesday, July 5th. Finally, Sterne Agee CRT reiterated a “neutral” rating on shares of M.D.C. Holdings in a research note on Monday, May 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.25.
The stock has a market capitalization of $1.28 billion and a price-to-earnings ratio of 17.37. The stock’s 50 day moving average is $26.00 and its 200-day moving average is $24.18.
M.D.C. Holdings (NYSE:MDC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. The firm had revenue of $571.20 million for the quarter, compared to analyst estimates of $535.12 million. During the same period last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. Analysts predict that M.D.C. Holdings Inc. will post $2.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Monday, August 8th.
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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