M.D.C. Holdings, Inc. (MDC) Stock Rating Reaffirmed by KeyCorp
Other equities research analysts have also recently issued reports about the company. Deutsche Bank AG lifted their target price on M.D.C. Holdings from $27.00 to $33.00 and gave the company a hold rating in a research note on Thursday, August 3rd. Bank of America Corporation reissued an underperform rating and issued a $27.00 target price (up from $24.00) on shares of M.D.C. Holdings in a research note on Wednesday, June 28th. Zacks Investment Research raised M.D.C. Holdings from a hold rating to a buy rating and set a $39.00 target price for the company in a research note on Wednesday, June 21st. BidaskClub cut M.D.C. Holdings from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Finally, Wells Fargo & Company raised M.D.C. Holdings from an underperform rating to a market perform rating and set a $30.00 target price for the company in a research note on Wednesday, August 30th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $31.20.
Shares of M.D.C. Holdings (MDC) traded up 0.97% during mid-day trading on Tuesday, hitting $33.21. The stock had a trading volume of 673,982 shares. The firm’s 50-day moving average price is $32.18 and its 200 day moving average price is $32.71. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 14.07 and a beta of 1.35. 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 released its earnings results on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $648.97 million during the quarter, compared to analysts’ expectations of $623.95 million. M.D.C. Holdings had a return on equity of 9.25% and a net margin of 4.76%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. Equities analysts forecast that M.D.C. Holdings will post $2.43 EPS for the current fiscal year.
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In related news, Director David E. Blackford sold 26,250 shares of M.D.C. Holdings stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $36.11, for a total transaction of $947,887.50. Following the completion of the sale, the director now directly owns 40,928 shares of the company’s stock, valued at $1,477,910.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 25.30% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of M.D.C. Holdings during the first quarter worth $108,000. Winslow Evans & Crocker Inc. grew its stake in shares of M.D.C. Holdings by 34.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the construction company’s stock worth $139,000 after purchasing an additional 1,026 shares during the period. Amalgamated Bank acquired a new stake in shares of M.D.C. Holdings during the second quarter worth $202,000. Parsec Financial Management Inc. acquired a new stake in shares of M.D.C. Holdings during the second quarter worth $208,000. Finally, Capital Fund Management S.A. acquired a new stake in shares of M.D.C. Holdings during the second quarter worth $223,000. 81.62% of the stock is owned by institutional investors and hedge funds.
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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