M.D.C. Holdings, Inc. (NYSE:MDC) Issues Earnings Results

M.D.C. Holdings, Inc. (NYSE:MDC) posted its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03, MarketWatch Earnings reports. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The business had revenue of $648.97 million during the quarter, compared to analysts’ expectations of $623.95 million. During the same quarter in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 13.6% on a year-over-year basis.

M.D.C. Holdings (NYSE:MDC) opened at 32.02 on Friday. M.D.C. Holdings has a 12 month low of $21.25 and a 12 month high of $36.92. The stock has a market cap of $1.66 billion, a PE ratio of 13.57 and a beta of 1.36. The firm has a 50-day moving average of $34.76 and a 200 day moving average of $32.24.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.00 annualized dividend and a yield of 3.12%.

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In other M.D.C. Holdings news, Director David E. Blackford sold 26,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total transaction of $947,887.50. Following the completion of the sale, the director now directly owns 40,928 shares in the company, valued at $1,477,910.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 25.30% of the stock is owned by insiders.

A number of research firms recently weighed in on MDC. Zacks Investment Research raised shares of M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Thursday, June 29th. BidaskClub cut shares of M.D.C. Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG increased their price objective on shares of M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Citigroup Inc. cut shares of M.D.C. Holdings from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 10th. Finally, Bank of America Corporation reaffirmed an “underperform” rating and set a $27.00 price objective (up previously from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $31.20.

About M.D.C. Holdings

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.

Earnings History for M.D.C. Holdings (NYSE:MDC)

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