M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) – KeyCorp upped their Q3 2022 earnings per share (EPS) estimates for shares of M.D.C. in a research note issued on Thursday, May 5th. KeyCorp analyst K. Zener now anticipates that the construction company will earn $2.96 per share for the quarter, up from their prior estimate of $2.92. KeyCorp also issued estimates for M.D.C.’s Q4 2022 earnings at $3.18 EPS.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised M.D.C. from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Friday, February 4th. JPMorgan Chase & Co. dropped their target price on M.D.C. from $49.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, April 13th. StockNews.com assumed coverage on M.D.C. in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Wedbush restated a “neutral” rating on shares of M.D.C. in a report on Tuesday, February 1st. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $55.67.
M.D.C. (NYSE:MDC – Get Rating) last issued its earnings results on Thursday, April 28th. The construction company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.11. M.D.C. had a return on equity of 24.22% and a net margin of 11.24%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business earned $1.51 EPS. M.D.C.’s quarterly revenue was up 19.1% compared to the same quarter last year.
A number of institutional investors have recently made changes to their positions in MDC. O Shaughnessy Asset Management LLC grew its position in shares of M.D.C. by 50.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 789 shares of the construction company’s stock worth $37,000 after buying an additional 266 shares in the last quarter. Quadrant Capital Group LLC raised its stake in M.D.C. by 65.2% in the first quarter. Quadrant Capital Group LLC now owns 884 shares of the construction company’s stock valued at $33,000 after buying an additional 349 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in M.D.C. by 155.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 995 shares of the construction company’s stock valued at $56,000 after buying an additional 605 shares during the last quarter. Institutional & Family Asset Management LLC raised its stake in shares of M.D.C. by 76.4% in the third quarter. Institutional & Family Asset Management LLC now owns 1,208 shares of the construction company’s stock worth $56,000 after purchasing an additional 523 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of M.D.C. in the first quarter worth about $49,000. 83.86% of the stock is currently owned by institutional investors.
In related news, Director David E. Blackford sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $38.12, for a total value of $114,360.00. Following the transaction, the director now directly owns 19,748 shares of the company’s stock, valued at approximately $752,793.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 24.20% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Wednesday, May 11th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, May 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.26%. M.D.C.’s dividend payout ratio (DPR) is presently 24.01%.
About M.D.C. (Get Rating)
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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