M.D.C. Holdings, Inc. Announces Quarterly Dividend of $0.25 (NYSE:MDC)
M.D.C. Holdings, Inc. (NYSE:MDC) declared a quarterly dividend on Monday, July 24th, RTT News reports. Stockholders of record on Wednesday, August 9th will be given a dividend of 0.25 per share by the construction company on Wednesday, August 23rd. This represents a $1.00 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, August 7th.
M.D.C. Holdings has a dividend payout ratio of 40.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect M.D.C. Holdings to earn $2.78 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 36.0%.
M.D.C. Holdings (MDC) traded down 1.26% during trading on Friday, hitting $32.02. The stock had a trading volume of 631,235 shares. The firm has a 50 day moving average of $34.76 and a 200-day moving average of $32.24. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 13.57 and a beta of 1.36. M.D.C. Holdings has a 12 month low of $22.31 and a 12 month high of $36.92.
M.D.C. Holdings (NYSE:MDC) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The company had revenue of $648.97 million for the quarter, compared to the consensus estimate of $623.95 million. During the same period last year, the firm posted $0.55 EPS. M.D.C. Holdings’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities analysts predict that M.D.C. Holdings will post $2.43 earnings per share for the current year.
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Several brokerages have issued reports on MDC. Deutsche Bank AG raised their price objective on shares of M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research downgraded shares of M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub downgraded shares of M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Bank of America Corporation reissued an “underperform” rating and set a $27.00 price objective (up from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Finally, Wells Fargo & Company downgraded shares of M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a research report on Tuesday, May 16th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $31.20.
In other news, Director David E. Blackford sold 26,250 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total value of $947,887.50. Following the completion of the sale, the director now owns 40,928 shares in the company, valued at approximately $1,477,910.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.30% of the stock is currently owned by company insiders.
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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