M.D.C. Holdings, Inc. (NYSE:MDC) declared a quarterly dividend on Tuesday, January 29th, RTT News reports. Stockholders of record on Wednesday, February 13th will be given a dividend of 0.30 per share by the construction company on Wednesday, February 27th. This represents a $1.20 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Tuesday, February 12th.
M.D.C. has raised its dividend by an average of 17.0% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. M.D.C. has a payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect M.D.C. to earn $3.41 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 35.2%.
MDC stock opened at $30.61 on Monday. The company has a quick ratio of 2.49, a current ratio of 9.15 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.73 billion, a PE ratio of 7.73, a PEG ratio of 0.50 and a beta of 1.34. M.D.C. has a fifty-two week low of $25.14 and a fifty-two week high of $33.47.
Several research analysts have commented on the company. Zacks Investment Research downgraded M.D.C. from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. Wedbush raised their target price on M.D.C. from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, November 12th. ValuEngine upgraded M.D.C. from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Evercore ISI upgraded M.D.C. to an “outperform” rating and cut their target price for the stock from $33.00 to $31.00 in a research note on Thursday, October 25th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.86.
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M.D.C. Company Profile
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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