M.D.C. Holdings, Inc. (MDC) Downgraded by Citigroup Inc

M.D.C. Holdings, Inc. (NYSE:MDC) was downgraded by analysts at Citigroup Inc from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, May 10th.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Wednesday, April 5th. FBN Securities lowered M.D.C. Holdings from an “outperform” rating to a “sector perform” rating in a research note on Friday, March 17th. Finally, Evercore ISI lowered M.D.C. Holdings from a “hold” rating to a “sell” rating and set a $26.00 target price on the stock. in a research report on Monday, January 30th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. M.D.C. Holdings currently has an average rating of “Hold” and a consensus price target of $29.00.

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

M.D.C. Holdings (NYSE:MDC) traded up 0.58% on Wednesday, reaching $34.39. 727,909 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $31.57 and a 200-day moving average of $28.09. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 15.37 and a beta of 1.33. M.D.C. Holdings has a 12 month low of $21.00 and a 12 month high of $35.99.

M.D.C. Holdings (NYSE:MDC) last released its quarterly earnings results on Tuesday, May 9th. The construction company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.07. The company had revenue of $563.70 million for the quarter, compared to analysts’ expectations of $503.65 million. M.D.C. Holdings had a return on equity of 8.02% and a net margin of 4.44%. The business’s quarterly revenue was up 42.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 earnings per share. On average, equities analysts expect that M.D.C. Holdings will post $2.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.92%.

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In other M.D.C. Holdings news, Director David E. Blackford sold 2,200 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $30.04, for a total value of $66,088.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Herbert T. Buchwald sold 26,250 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $34.14, for a total value of $896,175.00. The disclosure for this sale can be found here. Insiders have sold a total of 226,250 shares of company stock worth $7,551,903 in the last three months. 26.00% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the company. Zacks Investment Management bought a new position in M.D.C. Holdings during the third quarter valued at about $758,000. Crawford Investment Counsel Inc. bought a new position in M.D.C. Holdings during the third quarter valued at about $2,162,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of M.D.C. Holdings by 11.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,746 shares of the construction company’s stock worth $432,000 after buying an additional 1,675 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of M.D.C. Holdings by 2.6% in the third quarter. Ameriprise Financial Inc. now owns 210,429 shares of the construction company’s stock worth $5,429,000 after buying an additional 5,415 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of M.D.C. Holdings by 7.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,720 shares of the construction company’s stock worth $225,000 after buying an additional 580 shares in the last quarter. Institutional investors and hedge funds own 74.58% of the company’s stock.

M.D.C. Holdings 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.

12 Month Chart for NYSE:MDC

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