M.D.C. (MDC) Shares Down 7.6%

M.D.C. Holdings, Inc. (NYSE:MDC)’s share price traded down 7.6% during mid-day trading on Tuesday . The stock traded as low as $32.80 and last traded at $32.91. 581,500 shares traded hands during mid-day trading, an increase of 12% from the average session volume of 517,091 shares. The stock had previously closed at $35.63.

Several equities analysts have recently issued reports on the company. KeyCorp reaffirmed a “hold” rating on shares of M.D.C. in a report on Friday, August 25th. UBS reduced their price objective on M.D.C. from $34.00 to $32.00 and set a “sell” rating for the company in a report on Monday, November 6th. BidaskClub lowered M.D.C. from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Zacks Investment Research lowered M.D.C. from a “hold” rating to a “sell” rating in a report on Wednesday, August 30th. Finally, Wells Fargo & Company raised M.D.C. from an “underperform” rating to a “market perform” rating and set a $30.00 price objective for the company in a report on Wednesday, August 30th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $30.33.

The company has a quick ratio of 2.60, a current ratio of 9.45 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1,781.13, a PE ratio of 11.39, a PEG ratio of 1.05 and a beta of 1.35.

M.D.C. (NYSE:MDC) last issued its quarterly earnings data on Thursday, November 2nd. The construction company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.55. M.D.C. had a return on equity of 11.66% and a net margin of 6.09%. The company had revenue of $586.30 million for the quarter, compared to the consensus estimate of $595.05 million. During the same quarter last year, the business posted $0.54 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. sell-side analysts expect that M.D.C. Holdings, Inc. will post 2.53 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th were paid a $0.25 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 3.19%. M.D.C.’s dividend payout ratio is presently 33.37%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in shares of M.D.C. by 368.4% during the third quarter. Public Employees Retirement System of Ohio now owns 17,009 shares of the construction company’s stock valued at $565,000 after buying an additional 13,378 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of M.D.C. during the third quarter valued at about $626,000. Belpointe Asset Management LLC bought a new position in shares of M.D.C. during the third quarter valued at about $345,000. California Public Employees Retirement System grew its stake in shares of M.D.C. by 3.4% during the third quarter. California Public Employees Retirement System now owns 104,297 shares of the construction company’s stock valued at $3,464,000 after buying an additional 3,447 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of M.D.C. by 26.1% during the third quarter. Janney Montgomery Scott LLC now owns 16,037 shares of the construction company’s stock valued at $533,000 after buying an additional 3,321 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

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M.D.C. 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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