ValuEngine cut shares of M.D.C. (NYSE:MDC) from a sell rating to a strong sell rating in a report released on Wednesday morning, ValuEngine reports.

A number of other brokerages have also recently issued reports on MDC. Raymond James dropped their target price on shares of M.D.C. from $52.00 to $35.00 and set a strong-buy rating on the stock in a report on Thursday, April 9th. JPMorgan Chase & Co. upped their target price on shares of M.D.C. from $38.50 to $50.00 and gave the company a neutral rating in a report on Wednesday. Wedbush dropped their target price on shares of M.D.C. from $40.00 to $29.00 and set a neutral rating on the stock in a report on Thursday, April 2nd. Zacks Investment Research raised shares of M.D.C. from a sell rating to a strong-buy rating and set a $43.00 target price on the stock in a report on Tuesday, July 14th. Finally, Evercore ISI raised shares of M.D.C. from an in-line rating to an outperform rating and set a $61.00 target price on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $43.33.

Shares of M.D.C. stock traded down $0.86 during trading hours on Wednesday, reaching $44.83. 733,447 shares of the company’s stock were exchanged, compared to its average volume of 537,260. The company has a 50 day moving average of $36.72 and a two-hundred day moving average of $34.40. M.D.C. has a fifty-two week low of $15.75 and a fifty-two week high of $48.99. The company has a current ratio of 7.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. The stock has a market cap of $2.84 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.48 and a beta of 1.54.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Tuesday, July 28th. The construction company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.48. The company had revenue of $886.80 million during the quarter, compared to the consensus estimate of $806.74 million. M.D.C. had a net margin of 7.52% and a return on equity of 14.75%. The company’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. As a group, analysts expect that M.D.C. will post 3.9 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $1.32 annualized dividend and a yield of 2.94%. M.D.C.’s dividend payout ratio is currently 35.48%.

In other news, CEO Larry A. Mizel sold 110,224 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $44.82, for a total transaction of $4,940,239.68. Following the transaction, the chief executive officer now directly owns 230,849 shares of the company’s stock, valued at $10,346,652.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Siegel sold 29,194 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $44.90, for a total transaction of $1,310,810.60. Following the transaction, the director now directly owns 11,621 shares in the company, valued at $521,782.90. The disclosure for this sale can be found here. 25.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its holdings in shares of M.D.C. by 163.3% during the first quarter. BNP Paribas Arbitrage SA now owns 45,375 shares of the construction company’s stock worth $1,053,000 after purchasing an additional 28,141 shares during the period. Royal Bank of Canada increased its holdings in shares of M.D.C. by 387.1% during the first quarter. Royal Bank of Canada now owns 98,725 shares of the construction company’s stock worth $2,291,000 after purchasing an additional 78,458 shares during the period. Geode Capital Management LLC increased its holdings in shares of M.D.C. by 6.4% during the first quarter. Geode Capital Management LLC now owns 757,059 shares of the construction company’s stock worth $17,563,000 after purchasing an additional 45,337 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of M.D.C. by 284.2% during the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 412,633 shares of the construction company’s stock worth $9,573,000 after purchasing an additional 305,233 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of M.D.C. by 5.3% during the first quarter. Thrivent Financial for Lutherans now owns 41,971 shares of the construction company’s stock worth $974,000 after purchasing an additional 2,095 shares during the period. 75.71% of the stock is currently owned by institutional investors.

About M.D.C.

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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