MDC has been the topic of several other reports. JPMorgan Chase & Co. cut their price objective on shares of M.D.C. from $41.50 to $39.50 and set an underweight rating on the stock in a research report on Thursday, November 2nd. Evercore ISI downgraded shares of M.D.C. from an outperform rating to an in-line rating and boosted their price target for the stock from $57.00 to $63.00 in a research report on Wednesday, January 31st. Finally, Raymond James dropped their price target on shares of M.D.C. from $60.00 to $55.00 and set an outperform rating on the stock in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $52.13.
M.D.C. Trading Down 0.2 %
M.D.C. (NYSE:MDC – Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The construction company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.06. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. M.D.C. had a net margin of 8.64% and a return on equity of 12.32%. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period last year, the firm posted $1.08 EPS. On average, equities analysts expect that M.D.C. will post 5.43 earnings per share for the current year.
M.D.C. Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Tuesday, February 6th. M.D.C.’s dividend payout ratio (DPR) is currently 41.67%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Forum Financial Management LP purchased a new position in M.D.C. during the fourth quarter valued at approximately $218,000. Envestnet Portfolio Solutions Inc. purchased a new position in M.D.C. during the fourth quarter valued at approximately $330,000. Dimensional Fund Advisors LP grew its position in M.D.C. by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,653,841 shares of the construction company’s stock valued at $312,377,000 after purchasing an additional 98,369 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in M.D.C. by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,520,024 shares of the construction company’s stock valued at $83,981,000 after acquiring an additional 27,397 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in M.D.C. by 29.3% in the fourth quarter. Private Advisor Group LLC now owns 8,743 shares of the construction company’s stock valued at $483,000 after acquiring an additional 1,983 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.
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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