Deutsche Bank AG Raises M.D.C. Holdings, Inc. (MDC) Price Target to $33.00
M.D.C. Holdings, Inc. (NYSE:MDC) had its price objective raised by Deutsche Bank AG from $27.00 to $33.00 in a research note issued to investors on Thursday morning. They currently have a hold rating on the construction company’s stock.
Several other research firms have also commented on MDC. BidaskClub lowered shares of M.D.C. Holdings from a buy rating to a hold rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of M.D.C. Holdings from a buy rating to a hold rating in a research report on Wednesday, June 28th. Bank of America Corporation reiterated an underperform rating and issued a $27.00 price target (up from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Finally, Wells Fargo & Company lowered shares of M.D.C. Holdings from a market perform rating to an underperform rating and set a $30.00 price target on the stock. in a research report on Tuesday, May 16th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $31.20.
Shares of M.D.C. Holdings (MDC) traded up 0.20% on Thursday, hitting $34.56. The stock had a trading volume of 593,292 shares. M.D.C. Holdings has a one year low of $21.25 and a one year high of $36.92. The company’s 50 day moving average is $35.37 and its 200 day moving average is $31.74. The stock has a market cap of $1.79 billion, a PE ratio of 14.64 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, beating the consensus estimate of $0.61 by $0.03. The business had revenue of $648.97 million for the quarter, compared to analyst estimates of $623.95 million. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. Equities research analysts predict that M.D.C. Holdings will post $2.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.89%.
In related news, Director David E. Blackford sold 26,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total transaction of $947,887.50. Following the sale, the director now owns 40,928 shares in the company, valued at $1,477,910.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Berman sold 52,500 shares of the firm’s 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. In the last 90 days, insiders have sold 189,000 shares of company stock worth $6,602,663. 25.30% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in shares of M.D.C. Holdings by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 4,562 shares of the construction company’s stock worth $137,000 after buying an additional 100 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of M.D.C. Holdings by 0.9% in the first quarter. Janney Montgomery Scott LLC now owns 12,548 shares of the construction company’s stock worth $377,000 after buying an additional 111 shares during the period. Capstone Asset Management Co. raised its stake in shares of M.D.C. Holdings by 1.4% in the second quarter. Capstone Asset Management Co. now owns 16,258 shares of the construction company’s stock worth $574,000 after buying an additional 220 shares during the period. Texas Permanent School Fund raised its stake in shares of M.D.C. Holdings by 0.7% in the second quarter. Texas Permanent School Fund now owns 30,116 shares of the construction company’s stock worth $1,064,000 after buying an additional 221 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in shares of M.D.C. Holdings by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 16,864 shares of the construction company’s stock worth $507,000 after buying an additional 299 shares during the period. Hedge funds and other institutional investors own 81.16% of the company’s stock.
M.D.C. Holdings Company Profile
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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