M.D.C. Holdings Inc. (MDC) Receives Consensus Recommendation of “Hold” from Analysts
M.D.C. Holdings Inc. (NYSE:MDC) has earned an average recommendation of “Hold” from the nine brokerages that are currently covering the firm. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.50.
A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Co. began coverage on shares of M.D.C. Holdings in a research report on Wednesday, September 28th. They set a “market perform” rating on the stock. Deutsche Bank AG downgraded shares of M.D.C. Holdings from a “buy” rating to a “hold” rating and decreased their target price for the stock from $28.00 to $27.00 in a research report on Monday, August 8th. Citigroup Inc. boosted their target price on shares of M.D.C. Holdings from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Argus reissued a “hold” rating on shares of M.D.C. Holdings in a research report on Tuesday, July 5th.
Shares of M.D.C. Holdings (NYSE:MDC) traded down 1.81% on Thursday, reaching $23.93. 132,162 shares of the company’s stock traded hands. M.D.C. Holdings has a 52 week low of $19.28 and a 52 week high of $28.93. The firm has a market capitalization of $1.17 billion, a P/E ratio of 15.95 and a beta of 1.64. The company’s 50-day moving average is $25.48 and its 200-day moving average is $24.90.
M.D.C. Holdings (NYSE:MDC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.06. M.D.C. Holdings had a net margin of 3.62% and a return on equity of 6.09%. The firm had revenue of $571.20 million for the quarter, compared to the consensus estimate of $535.12 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue was up 23.8% on a year-over-year basis. Equities research analysts anticipate that M.D.C. Holdings will post $2.11 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. MSI Financial Services Inc boosted its stake in shares of M.D.C. Holdings by 383.1% in the third quarter. MSI Financial Services Inc now owns 4,672 shares of the company’s stock worth $121,000 after buying an additional 3,705 shares during the last quarter. Capstone Asset Management Co. boosted its position in M.D.C. Holdings by 3.9% in the third quarter. Capstone Asset Management Co. now owns 12,383 shares of the company’s stock valued at $319,000 after buying an additional 470 shares during the last quarter. Hexavest Inc. boosted its position in M.D.C. Holdings by 83.5% in the third quarter. Hexavest Inc. now owns 1,023,024 shares of the company’s stock valued at $26,394,000 after buying an additional 465,464 shares during the last quarter. Mason Street Advisors LLC bought a new position in M.D.C. Holdings during the second quarter valued at approximately $187,000. Finally, Schwab Charles Investment Management Inc. boosted its position in M.D.C. Holdings by 2.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 208,080 shares of the company’s stock valued at $5,065,000 after buying an additional 5,037 shares during the last quarter. Institutional investors and hedge funds own 79.09% of the company’s stock.
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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