Wells Fargo & Co. Begins Coverage on M.D.C. Holdings Inc. (MDC)
Stock analysts at Wells Fargo & Co. started coverage on shares of M.D.C. Holdings Inc. (NYSE:MDC) in a research note issued to investors on Wednesday. The brokerage set a “market perform” rating on the stock.
Several other research firms have also recently commented on MDC. Citigroup Inc. increased their target price 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. Zacks Investment Research upgraded 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. Deutsche Bank AG cut M.D.C. Holdings from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $28.00 to $27.00 in a research note on Monday, August 8th. Finally, Argus restated a “hold” rating on shares of M.D.C. Holdings in a research note on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $27.25.
Shares of M.D.C. Holdings (NYSE:MDC) traded up 1.79% during trading on Wednesday, reaching $26.23. 249,604 shares of the company’s stock traded hands. The company has a 50 day moving average of $25.54 and a 200-day moving average of $24.82. M.D.C. Holdings has a 1-year low of $19.28 and a 1-year high of $28.93. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 17.49 and a beta of 1.65.
M.D.C. Holdings (NYSE:MDC) last released its earnings results on Wednesday, August 3rd. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.06. The company earned $571.20 million during the quarter, compared to analysts’ expectations of $535.12 million. M.D.C. Holdings had a return on equity of 6.09% and a net margin of 3.62%. The business’s revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. Equities analysts predict that M.D.C. Holdings will post $2.13 earnings per share for the current year.
A number of large investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its stake in shares of M.D.C. Holdings by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,338,468 shares of the company’s stock valued at $33,542,000 after buying an additional 24,507 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of M.D.C. Holdings by 30.4% in the second quarter. Nisa Investment Advisors LLC now owns 47,600 shares of the company’s stock valued at $1,159,000 after buying an additional 11,100 shares in the last quarter. BlackRock Inc. raised its stake in shares of M.D.C. Holdings by 10.8% in the first quarter. BlackRock Inc. now owns 15,525 shares of the company’s stock valued at $388,000 after buying an additional 1,509 shares in the last quarter. BlackRock Group LTD raised its stake in shares of M.D.C. Holdings by 20.3% in the first quarter. BlackRock Group LTD now owns 30,200 shares of the company’s stock valued at $758,000 after buying an additional 5,093 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of M.D.C. Holdings by 53.3% in the first quarter. JPMorgan Chase & Co. now owns 178,805 shares of the company’s stock valued at $4,481,000 after buying an additional 62,174 shares in the last quarter. 79.09% of the stock is currently owned by hedge funds and other institutional investors.
About M.D.C. Holdings
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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