M.D.C. Holdings, Inc. (NYSE:MDC) – Equities researchers at Wedbush increased their FY2018 earnings estimates for M.D.C. in a research report issued on Thursday, November 1st. Wedbush analyst J. Mccanless now expects that the construction company will earn $3.90 per share for the year, up from their previous estimate of $3.85. Wedbush has a “Neutral” rating and a $31.00 price target on the stock. Wedbush also issued estimates for M.D.C.’s Q4 2018 earnings at $1.19 EPS, Q1 2019 earnings at $0.68 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.18 EPS and FY2020 earnings at $4.33 EPS.
M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). The firm had revenue of $766.03 million for the quarter, compared to analyst estimates of $778.62 million. M.D.C. had a return on equity of 12.96% and a net margin of 6.21%. The company’s revenue was up 30.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 earnings per share.
Other analysts also recently issued research reports about the stock. ValuEngine raised shares of M.D.C. from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. JPMorgan Chase & Co. raised shares of M.D.C. from an “underweight” rating to a “neutral” rating and set a $36.00 price objective on the stock in a report on Friday, July 13th. Zacks Investment Research downgraded shares of M.D.C. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 18th. Finally, Bank of America raised shares of M.D.C. from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $42.00 in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. M.D.C. presently has a consensus rating of “Hold” and a consensus target price of $33.71.
MDC stock opened at $30.31 on Monday. The stock has a market cap of $1.66 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.43 and a beta of 1.40. M.D.C. has a 52 week low of $25.14 and a 52 week high of $36.33. The company has a current ratio of 9.55, a quick ratio of 2.45 and a debt-to-equity ratio of 0.70.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in shares of M.D.C. by 1.3% in the third quarter. American Century Companies Inc. now owns 143,638 shares of the construction company’s stock valued at $4,249,000 after purchasing an additional 1,906 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of M.D.C. by 74.6% in the third quarter. Wells Fargo & Company MN now owns 147,933 shares of the construction company’s stock valued at $4,375,000 after purchasing an additional 63,213 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of M.D.C. by 13.7% in the third quarter. Victory Capital Management Inc. now owns 30,812 shares of the construction company’s stock valued at $911,000 after purchasing an additional 3,715 shares in the last quarter. Camarda Financial Advisors LLC lifted its holdings in shares of M.D.C. by 2,235.2% in the third quarter. Camarda Financial Advisors LLC now owns 57,213 shares of the construction company’s stock valued at $1,692,000 after purchasing an additional 54,763 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of M.D.C. by 10.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 37,135 shares of the construction company’s stock valued at $1,098,000 after purchasing an additional 3,519 shares in the last quarter. 77.55% of the stock is currently owned by institutional investors.
In other M.D.C. news, Chairman Larry A. Mizel sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $33.15, for a total value of $331,500.00. Following the sale, the chairman now owns 121,867 shares of the company’s stock, valued at $4,039,891.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael A. Berman sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $32.67, for a total transaction of $653,400.00. Following the completion of the sale, the director now directly owns 131,867 shares in the company, valued at approximately $4,308,094.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $1,637,300. 27.00% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, November 6th. M.D.C.’s dividend payout ratio is currently 46.51%.
M.D.C. Company Profile
M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.
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