Raymond James Upgrades M.D.C. (NYSE:MDC) to “Strong-Buy”

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Raymond James upgraded shares of M.D.C. (NYSE:MDC) from an outperform rating to a strong-buy rating in a research note published on Friday, BenzingaRatingsTable reports. The firm currently has $49.00 price target on the construction company’s stock, up from their previous price target of $42.00.

A number of other analysts have also recently commented on the company. Zacks Investment Research upgraded M.D.C. from a hold rating to a strong-buy rating and set a $42.00 price objective for the company in a research report on Wednesday, July 10th. Wedbush upped their price objective on M.D.C. from $30.00 to $35.00 and gave the company a neutral rating in a research report on Thursday, August 1st. ValuEngine cut M.D.C. from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded M.D.C. from an underweight rating to a neutral rating in a research report on Monday, July 8th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $38.17.

M.D.C. stock opened at $42.38 on Friday. The stock has a market cap of $2.49 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.19 and a current ratio of 9.12. M.D.C. has a one year low of $25.14 and a one year high of $44.01. The stock has a fifty day moving average of $37.26 and a 200 day moving average of $33.11.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Wednesday, July 31st. The construction company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08. The company had revenue of $732.84 million during the quarter, compared to analysts’ expectations of $727.20 million. M.D.C. had a return on equity of 13.24% and a net margin of 6.64%. M.D.C.’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, sell-side analysts predict that M.D.C. will post 3.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, August 6th. M.D.C.’s payout ratio is 32.70%.

In other M.D.C. news, Director Michael A. Berman sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $70.52, for a total value of $705,200.00. Following the completion of the sale, the director now owns 148,218 shares in the company, valued at $10,452,333.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David Siegel sold 23,523 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $36.83, for a total value of $866,352.09. Following the completion of the sale, the director now owns 45,273 shares of the company’s stock, valued at approximately $1,667,404.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,553 shares of company stock valued at $2,877,799. Company insiders own 26.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors boosted its stake in shares of M.D.C. by 86.0% in the second quarter. Captrust Financial Advisors now owns 1,306 shares of the construction company’s stock worth $43,000 after acquiring an additional 604 shares during the period. Penserra Capital Management LLC bought a new position in shares of M.D.C. in the first quarter worth about $56,000. C M Bidwell & Associates Ltd. bought a new position in shares of M.D.C. in the second quarter worth about $90,000. CIBC Asset Management Inc bought a new position in shares of M.D.C. in the first quarter worth about $212,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of M.D.C. in the second quarter worth about $218,000. Institutional investors and hedge funds own 74.84% of the company’s stock.

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

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