M.D.C. (NYSE:MDC) had its price objective boosted by Wedbush from $35.00 to $41.00 in a research note issued to investors on Friday morning, BenzingaRatingsTable reports. Wedbush currently has a neutral rating on the construction company’s stock. Wedbush also issued estimates for M.D.C.’s Q3 2019 earnings at $0.95 EPS, FY2019 earnings at $3.91 EPS, Q1 2020 earnings at $0.75 EPS, Q2 2020 earnings at $0.98 EPS, Q3 2020 earnings at $1.12 EPS, Q1 2021 earnings at $0.78 EPS and Q2 2021 earnings at $1.03 EPS.

MDC has been the topic of several other reports. JPMorgan Chase & Co. raised shares of M.D.C. from an underweight rating to a neutral rating in a research report on Monday, July 8th. Zacks Investment Research raised shares of M.D.C. from a hold rating to a strong-buy rating and set a $42.00 target price on the stock in a research report on Wednesday, July 10th. ValuEngine cut shares of M.D.C. from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Raymond James raised shares of M.D.C. from an outperform rating to a strong-buy rating and raised their target price for the stock from $42.00 to $49.00 in a research report on Friday. Three equities 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’s stock. M.D.C. presently has an average rating of Buy and an average target price of $38.17.

MDC opened at $42.28 on Friday. The company’s 50 day simple moving average is $37.57 and its 200 day simple moving average is $33.30. 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 1 year low of $25.14 and a 1 year high of $44.01. The stock has a market capitalization of $2.63 billion, a PE ratio of 11.52, a P/E/G ratio of 1.37 and a beta of 1.08.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 6th. This represents a $1.20 dividend on an annualized basis and a yield of 2.84%. M.D.C.’s dividend payout ratio (DPR) is 32.70%.

In other M.D.C. news, Director Paris G. Reece III sold 25,030 shares of M.D.C. stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $36.55, for a total transaction of $914,846.50. Following the transaction, the director now directly owns 4,697 shares of the company’s stock, valued at $171,675.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael A. Berman sold 10,000 shares of M.D.C. stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $70.52, for a total transaction of $705,200.00. Following the transaction, the director now directly owns 148,218 shares in the company, valued at $10,452,333.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,553 shares of company stock worth $2,877,799. 26.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MDC. Captrust Financial Advisors lifted its position in shares of M.D.C. by 86.0% during the second quarter. Captrust Financial Advisors now owns 1,306 shares of the construction company’s stock worth $43,000 after purchasing an additional 604 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of M.D.C. during the first quarter worth $56,000. C M Bidwell & Associates Ltd. acquired a new position in shares of M.D.C. during the second quarter worth $90,000. CIBC Asset Management Inc acquired a new position in shares of M.D.C. during the first quarter worth $212,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of M.D.C. during the second quarter worth $218,000. 74.84% of the stock is currently 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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Analyst Recommendations for M.D.C. (NYSE:MDC)

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