M.D.C. Holdings, Inc. (NYSE:MDC) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of M.D.C. Holdings, Inc. (NYSE:MDC) have earned a consensus rating of “Reduce” from the five research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $52.13.

A number of research firms have recently issued reports on MDC. Evercore ISI downgraded shares of M.D.C. from an “outperform” rating to an “in-line” rating and lifted their price objective for the stock from $57.00 to $63.00 in a report on Wednesday, January 31st. StockNews.com started coverage on shares of M.D.C. in a research note on Saturday, April 27th. They issued a “hold” rating for the company. Finally, Raymond James reissued a “market perform” rating on shares of M.D.C. in a research note on Wednesday, February 7th.

Insiders Place Their Bets

In other M.D.C. news, Director David E. Blackford sold 6,200 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $62.69, for a total value of $388,678.00. Following the completion of the sale, the director now directly owns 13,534 shares of the company’s stock, valued at $848,446.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M.D.C.

Hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC purchased a new position in shares of M.D.C. in the fourth quarter valued at about $25,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of M.D.C. in the fourth quarter valued at about $25,000. GAMMA Investing LLC purchased a new position in shares of M.D.C. in the fourth quarter valued at about $34,000. Clear Street Markets LLC purchased a new position in shares of M.D.C. in the third quarter valued at about $29,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of M.D.C. in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

M.D.C. Stock Performance

NYSE MDC opened at $62.98 on Friday. M.D.C. has a 52-week low of $36.47 and a 52-week high of $63.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.92 and a current ratio of 9.76. The company has a market capitalization of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54. The company has a fifty day moving average of $62.85 and a 200-day moving average of $55.45.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Tuesday, January 30th. The construction company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.06. M.D.C. had a net margin of 8.64% and a return on equity of 12.32%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm posted $1.08 EPS. The firm’s revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts predict that M.D.C. will post 5.7 EPS for the current fiscal year.

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.