According to Zacks, “M.D.C. HOLDINGS, INC. is engaged in the construction, sale and related financing of residential housing and the acquisition and development of land for use in its homebuilding activities and sale to others, in the Denver, Phoenix, Maryland, Virginia, mid Atlantic region, Las Vegas, Dallas, California metropolitan areas. They are also is involved in real estate brokerage, property management, condominium conversions and fee construction of apartment and commercial buildings. “
A number of other brokerages also recently weighed in on MDC. Wells Fargo & Co. assumed coverage on M.D.C. Holdings in a research note on Wednesday, September 28th. They issued a market perform rating on the stock. Deutsche Bank AG lowered M.D.C. Holdings from a buy rating to a hold rating and lowered their target price for the company from $28.00 to $27.00 in a report on Monday, August 8th. Citigroup Inc. raised their target price on M.D.C. Holdings from $27.00 to $29.00 and gave the company a buy rating in a report on Friday, August 5th. Finally, Argus reaffirmed a hold rating on shares of M.D.C. Holdings in a report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. M.D.C. Holdings currently has an average rating of Hold and an average price target of $27.25.
Shares of M.D.C. Holdings (NYSE:MDC) opened at 23.96 on Tuesday. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 15.97 and a beta of 1.64. The firm has a 50-day moving average price of $25.42 and a 200 day moving average price of $24.89. M.D.C. Holdings has a 12 month low of $19.28 and a 12 month high of $28.93.
M.D.C. Holdings (NYSE:MDC) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.06. M.D.C. Holdings had a return on equity of 6.09% and a net margin of 3.62%. The business had revenue of $571.20 million for the quarter, compared to the consensus estimate of $535.12 million. During the same period last year, the business earned $0.41 EPS. The firm’s revenue was up 23.8% compared to the same quarter last year. On average, analysts anticipate that M.D.C. Holdings will post $2.11 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. MSI Financial Services Inc raised its stake in shares of M.D.C. Holdings by 383.1% in the third quarter. MSI Financial Services Inc now owns 4,672 shares of the company’s stock valued at $121,000 after buying an additional 3,705 shares during the last quarter. PineBridge Investments L.P. purchased a new stake in shares of M.D.C. Holdings during the second quarter valued at $121,000. Teacher Retirement System of Texas raised its stake in shares of M.D.C. Holdings by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 5,446 shares of the company’s stock valued at $133,000 after buying an additional 663 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in shares of M.D.C. Holdings during the second quarter valued at $187,000. Finally, Profund Advisors LLC purchased a new stake in shares of M.D.C. Holdings during the second quarter valued at $216,000. 79.09% of the stock is currently owned by hedge funds and other institutional investors.
M.D.C. Holdings Company Profile
M.DC Holdings, Inc is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes.
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