Wells Fargo & Co. initiated coverage on shares of M.D.C. Holdings Inc. (NYSE:MDC) in a research note issued to investors on Wednesday morning. The brokerage issued a market perform rating on the stock.
Several other brokerages also recently weighed in on MDC. Citigroup Inc. upped their target price on M.D.C. Holdings from $27.00 to $29.00 and gave the stock a buy rating in a research note on Friday, August 5th. Zacks Investment Research raised M.D.C. Holdings from a sell rating to a hold rating and set a $31.00 price objective for the company in a research note on Tuesday, July 19th. Deutsche Bank AG downgraded M.D.C. Holdings from a buy rating to a hold rating and reduced their price objective for the company from $28.00 to $27.00 in a research note on Monday, August 8th. Finally, Argus reissued a hold rating on shares of M.D.C. Holdings in a research note on Tuesday, July 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. M.D.C. Holdings presently has a consensus rating of Hold and a consensus price target of $27.25.
Shares of M.D.C. Holdings (NYSE:MDC) opened at 25.44 on Wednesday. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 16.96 and a beta of 1.64. M.D.C. Holdings has a 52 week low of $19.28 and a 52 week high of $28.93. The stock’s 50 day moving average is $25.63 and its 200-day moving average is $24.87.
M.D.C. Holdings (NYSE:MDC) last announced its earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. The business earned $571.20 million during the quarter, compared to the consensus estimate of $535.12 million. M.D.C. Holdings had a return on equity of 6.09% and a net margin of 3.62%. The business’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. On average, analysts anticipate that M.D.C. Holdings will post $2.11 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of MDC. PineBridge Investments L.P. bought a new stake in shares of M.D.C. Holdings during the second quarter worth about $121,000. Teacher Retirement System of Texas increased its stake in shares of M.D.C. Holdings by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 5,446 shares of the company’s stock worth $133,000 after buying an additional 663 shares during the period. Mason Street Advisors LLC bought a new stake in shares of M.D.C. Holdings during the second quarter worth about $187,000. Profund Advisors LLC bought a new stake in shares of M.D.C. Holdings during the second quarter worth about $216,000. Finally, Quantitative Investment Management LLC bought a new stake in shares of M.D.C. Holdings during the second quarter worth about $221,000. 79.09% of the stock is owned by institutional investors and hedge funds.
M.D.C. Holdings Company Profile
M.DC Holdings, Inc is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes.
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