M.D.C. Holdings, Inc. (MDC) Stock Rating Reaffirmed by KeyCorp
M.D.C. Holdings, Inc. (NYSE:MDC)‘s stock had its “hold” rating reissued by investment analysts at KeyCorp in a report released on Friday.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Thursday, June 29th. BidaskClub lowered shares of M.D.C. Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG lifted their price target on shares of M.D.C. Holdings from $27.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, Citigroup Inc. lowered shares of M.D.C. Holdings from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 10th. Four equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $31.20.
M.D.C. Holdings (MDC) opened at 31.03 on Friday. M.D.C. Holdings has a 12 month low of $22.31 and a 12 month high of $36.92. The firm has a 50-day moving average of $34.24 and a 200 day moving average of $32.38. The stock has a market cap of $1.61 billion, a PE ratio of 13.15 and a beta of 1.36.
M.D.C. Holdings (NYSE:MDC) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, beating the Zacks’ 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 analyst estimates of $623.95 million. During the same quarter last year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. Analysts anticipate that M.D.C. Holdings will post $2.43 EPS for the current year.
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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 sale, the director now owns 40,928 shares in the company, valued at $1,477,910.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 25.30% of the company’s stock.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of M.D.C. Holdings by 61,394.6% in the first quarter. BlackRock Inc. now owns 5,836,452 shares of the construction company’s stock valued at $175,386,000 after buying an additional 5,826,961 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of M.D.C. Holdings by 14.8% in the second quarter. Vanguard Group Inc. now owns 4,347,875 shares of the construction company’s stock valued at $153,611,000 after buying an additional 561,481 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of M.D.C. Holdings during the second quarter valued at about $342,000. State Street Corp increased its stake in shares of M.D.C. Holdings by 19.8% in the first quarter. State Street Corp now owns 1,494,833 shares of the construction company’s stock valued at $44,919,000 after buying an additional 247,408 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in shares of M.D.C. Holdings by 80,713.5% in the second quarter. Federated Investors Inc. PA now owns 244,865 shares of the construction company’s stock valued at $8,651,000 after buying an additional 244,562 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.
About M.D.C. Holdings
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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