M.D.C. Holdings, Inc. (NYSE:MDC) declared a quarterly dividend on Monday, July 24th, RTT News reports. Shareholders of record on Wednesday, August 9th will be paid a dividend of 0.25 per share by the construction company on Wednesday, August 23rd. This represents a $1.00 annualized dividend and a yield of 3.12%. The ex-dividend date is Monday, August 7th.
M.D.C. Holdings has a payout ratio of 40.8% meaning its dividend is sufficiently covered by earnings. Analysts expect M.D.C. Holdings to earn $2.78 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 36.0%.
M.D.C. Holdings (MDC) opened at 32.02 on Friday. M.D.C. Holdings has a one year low of $21.25 and a one year high of $36.92. The firm has a 50-day moving average price of $34.76 and a 200 day moving average price of $32.24. The firm has a market capitalization of $1.66 billion, a P/E ratio of 13.57 and a beta of 1.36.
M.D.C. Holdings (NYSE:MDC) last issued its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $648.97 million during the quarter, compared to the consensus estimate of $623.95 million. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. Equities research analysts anticipate that M.D.C. Holdings will post $2.43 earnings per share for the current year.
A number of research firms have issued reports on MDC. Deutsche Bank AG increased their target price 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. Zacks Investment Research downgraded shares of M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub downgraded shares of M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Bank of America Corporation reiterated an “underperform” rating and issued a $27.00 target price (up previously from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Finally, Wells Fargo & Company downgraded shares of M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 target price for the company. in a research report on Tuesday, May 16th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. M.D.C. Holdings currently has an average rating of “Hold” and a consensus price target of $31.20.
In related news, Director David E. Blackford sold 26,250 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total value of $947,887.50. Following the transaction, the director now directly owns 40,928 shares in the company, valued at approximately $1,477,910.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 25.30% of the stock is currently owned by company insiders.
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.
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