MDC Holdings, Inc. (NYSE:MDC) Receives Average “Buy” Rating from Brokerages
MDC Holdings, Inc. (NYSE: MDC – Get Rating) has been assigned an average rating of “Buy” by the six analysts who currently cover the company, reports Marketbeat Ratings. Four investment analysts rated the stock with a hold recommendation, one gave the company a buy recommendation and one gave the company a strong buy recommendation. The 1-year average price target among brokers who updated their coverage on the stock in the past year is $60.50.
Several analysts have published reports on the company. Wedbush reaffirmed a “neutral” rating on MDC shares in a Tuesday, Feb. 1 research note. Zacks Investment Research upgraded MDC from a “hold” rating to a “buy” rating and set a target price of $51.00 for the company in a Friday, February 4 research note. StockNews.com supported MDC’s coverage in a Thursday, March 31 research note. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced its target price on MDC from $66.00 to $49.00 and set a “neutral” rating for the company in a Thursday, March 10 research note.
A number of institutional investors and hedge funds have recently changed their holdings in MDC. FMR LLC increased its stake in MDC by 61.5% during the 1st quarter. FMR LLC now owns 225,699 shares of the construction company valued at $6,559,000 after purchasing an additional 85,920 shares during the period. Morgan Stanley increased its stake in MDC by 93.9% in the second quarter. Morgan Stanley now owns 747,189 shares of the construction company worth $37,808,000 after acquiring 361,931 additional shares in the last quarter. Avantax Advisory Services Inc. increased its stake in MDC by 3.2% in the third quarter. Avantax Advisory Services Inc. now owns 11,361 shares of the construction company worth $535,000 after acquiring 348 additional shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in MDC by 6.4% in the third quarter. Kestra Private Wealth Services LLC now owns 16,840 shares of the construction company worth $787,000 after acquiring 1,019 additional shares in the last quarter. Finally, Strs Ohio increased its stake in MDC by 18.8% in the third quarter. Strs Ohio now owns 315,680 shares of the construction company worth $14,748,000 after acquiring an additional 50,000 shares in the last quarter. 95.46% of the shares are currently held by institutional investors.
Shares of NYSE:MDC traded down $0.52 in Thursday’s midday session, hitting $35.03. The company had a trading volume of 14,026 shares, compared to an average volume of 578,292. The company’s 50-day moving average price is $42.72 and its 200-day moving average price is $48.09 . The company has a current ratio of 7.75, a quick ratio of 1.77 and a debt ratio of 0.67. The stock has a market capitalization of $2.48 billion, a P/E ratio of 4.45 and a beta of 1.42. MDC has a 52 week low of $35.00 and a 52 week high of $63.86.
MDC (NYSE:MDC – Get Rating) last reported quarterly earnings data on Tuesday, February 1. The construction company reported earnings per share (EPS) of $2.21 for the quarter, missing the Zacks consensus estimate of $2.52 per ($0.31). MDC had a net margin of 10.92% and a return on equity of 23.90%. The company posted revenue of $1.44 billion in the quarter, versus a consensus estimate of $1.58 billion. In the same quarter a year earlier, the company posted earnings per share of $2.03. The company’s revenue increased 21.5% year over year. Research analysts expect MDC to post an EPS of 10.61 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 23. Shareholders of record on Wednesday, February 9 received a dividend of $0.50. This represents an annualized dividend of $2.00 and a dividend yield of 5.71%. The ex-dividend date was Tuesday, February 8. MDC’s dividend payout ratio (DPR) is currently 25.58%.
About MDC (Get a rating)
M.DC Holdings, Inc provides home building services and financial services. Its home construction business consists of wholly-owned subsidiaries that generally purchase finished lots or develop lots to the extent necessary to build and sell primarily single-detached single-family homes to first-time home buyers and first-time home buyers. property under the name of Richmond American Homes.
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