M.D.C. Holdings, Inc. (NYSE:MDC) Receives $44.50 Consensus PT from Brokerages

Posted by Defense World Staff on Aug 6th, 2023

Shares of M.D.C. Holdings, Inc. (NYSE:MDC – Get Free Report) have been assigned a consensus recommendation of “Hold” from the four ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $46.17.

Several brokerages have recently commented on MDC. Wedbush boosted their target price on shares of M.D.C. from $28.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. Seaport Res Ptn reiterated a “neutral” rating on shares of M.D.C. in a research report on Wednesday, June 14th. StockNews.com began coverage on shares of M.D.C. in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Raymond James upped their price objective on shares of M.D.C. from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday.

M.D.C. Price Performance

Shares of NYSE:MDC opened at $50.88 on Thursday. The firm has a 50 day moving average of $46.02 and a 200-day moving average of $41.17. The stock has a market capitalization of $3.79 billion, a PE ratio of 9.46 and a beta of 1.41. The company has a current ratio of 9.07, a quick ratio of 3.77 and a debt-to-equity ratio of 0.50. M.D.C. has a 12 month low of $27.04 and a 12 month high of $51.81.

M.D.C. (NYSE:MDC – Get Free Report) last issued its earnings results on Thursday, July 27th. The construction company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.69 by $0.55. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $939.10 million. M.D.C. had a net margin of 7.74% and a return on equity of 12.80%. The business’s revenue for the quarter was down 23.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.59 EPS. On average, equities research analysts predict that M.D.C. will post 4.15 EPS for the current fiscal year.

M.D.C. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.32%. This is a positive change from M.D.C.’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, August 8th. M.D.C.’s payout ratio is presently 40.89%.

Insiders Place Their Bets

In other M.D.C. news, Director Paris G. Reece III sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $50.88, for a total transaction of $763,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Paris G. Reece III sold 15,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $50.88, for a total value of $763,200.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Raymond T. Baker sold 29,160 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $41.24, for a total transaction of $1,202,558.40. Following the completion of the sale, the director now directly owns 48,526 shares in the company, valued at $2,001,212.24. The disclosure for this sale can be found here. Insiders have sold 1,422,556 shares of company stock valued at $63,033,884 in the last ninety days. 23.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M.D.C.

A number of institutional investors have recently modified their holdings of MDC. JPMorgan Chase & Co. boosted its stake in M.D.C. by 74.6% during the first quarter. JPMorgan Chase & Co. now owns 258,677 shares of the construction company’s stock worth $9,789,000 after acquiring an additional 110,564 shares in the last quarter. Citigroup Inc. boosted its stake in M.D.C. by 0.7% during the first quarter. Citigroup Inc. now owns 84,150 shares of the construction company’s stock worth $3,184,000 after acquiring an additional 568 shares in the last quarter. D.A. Davidson & CO. boosted its stake in M.D.C. by 21.6% during the first quarter. D.A. Davidson & CO. now owns 6,200 shares of the construction company’s stock worth $235,000 after acquiring an additional 1,100 shares in the last quarter. MetLife Investment Management LLC boosted its stake in M.D.C. by 57.6% during the first quarter. MetLife Investment Management LLC now owns 30,993 shares of the construction company’s stock worth $1,173,000 after acquiring an additional 11,325 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in M.D.C. by 14.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,738 shares of the construction company’s stock worth $1,844,000 after acquiring an additional 6,003 shares in the last quarter. 98.19% of the stock is owned by institutional investors.

About M.D.C.

(Get Free Report

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.