Bank of America downgraded shares of M.D.C. (NYSE:MDC) to a hold rating in a research report released on Monday, TipRanks reports.

A number of other research firms have also weighed in on MDC. Wells Fargo & Co lowered shares of M.D.C. from an equal weight rating to an underweight rating and raised their price objective for the company from $39.00 to $42.00 in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on shares of M.D.C. from $46.50 to $22.00 and set a neutral rating for the company in a research note on Wednesday, March 18th. Zacks Investment Research upgraded shares of M.D.C. from a hold rating to a buy rating and set a $42.00 price objective for the company in a research note on Saturday, January 4th. Finally, ValuEngine lowered shares of M.D.C. from a hold rating to a sell rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $39.20.

NYSE:MDC opened at $26.04 on Monday. The firm has a market cap of $1.23 billion, a P/E ratio of 7.02, a P/E/G ratio of 0.54 and a beta of 0.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.14 and a current ratio of 7.82. M.D.C. has a fifty-two week low of $15.75 and a fifty-two week high of $48.99. The firm has a 50-day simple moving average of $37.38 and a two-hundred day simple moving average of $40.10.

M.D.C. (NYSE:MDC) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.15. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. M.D.C. had a net margin of 7.24% and a return on equity of 14.11%. M.D.C.’s revenue was up 25.2% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. On average, equities research analysts predict that M.D.C. will post 4.28 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from M.D.C.’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.07%. M.D.C.’s payout ratio is currently 35.48%.

In related news, Director Leslie B. Fox sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.61, for a total value of $58,254.00. Following the transaction, the director now owns 8,763 shares of the company’s stock, valued at $364,628.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David D. Mandarich sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $44.63, for a total transaction of $4,463,000.00. Following the completion of the transaction, the chief operating officer now directly owns 4,119,715 shares in the company, valued at approximately $183,862,880.45. The disclosure for this sale can be found here. Insiders sold 178,276 shares of company stock valued at $7,947,326 over the last quarter. Company insiders own 25.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MDC. FMR LLC boosted its holdings in shares of M.D.C. by 61.5% in the first quarter. FMR LLC now owns 225,699 shares of the construction company’s stock worth $6,559,000 after buying an additional 85,920 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in shares of M.D.C. in the third quarter worth approximately $200,000. Russell Investments Group Ltd. boosted its holdings in shares of M.D.C. by 89.0% in the third quarter. Russell Investments Group Ltd. now owns 19,171 shares of the construction company’s stock worth $826,000 after buying an additional 9,029 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of M.D.C. in the third quarter worth approximately $79,000. Finally, State Street Corp boosted its holdings in shares of M.D.C. by 1.3% in the third quarter. State Street Corp now owns 1,706,330 shares of the construction company’s stock worth $73,543,000 after buying an additional 21,916 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

About M.D.C.

M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.

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Analyst Recommendations for M.D.C. (NYSE:MDC)

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