M.D.C. (NYSE:MDC) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of M.D.C. (NYSE:MDC) from an in-line rating to an outperform rating in a report issued on Wednesday, BenzingaRatingsTable reports. They currently have $61.00 price objective on the construction company’s stock.

Several other analysts also recently weighed in on the stock. ValuEngine raised shares of M.D.C. from a strong sell rating to a sell rating in a research note on Monday, July 13th. Raymond James lowered their price objective on shares of M.D.C. from $52.00 to $35.00 and set a strong-buy rating for the company in a research note on Thursday, April 9th. Zacks Investment Research raised shares of M.D.C. from a sell rating to a strong-buy rating and set a $43.00 price objective for the company in a research note on Tuesday, July 14th. Finally, Wedbush lowered their price objective on shares of M.D.C. from $40.00 to $29.00 and set a neutral rating for the company in a research note on Thursday, April 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $43.33.

M.D.C. stock opened at $44.83 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 7.53 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2.84 billion, a PE ratio of 10.99, a P/E/G ratio of 1.48 and a beta of 1.54. The firm has a fifty day simple moving average of $36.72 and a two-hundred day simple moving average of $34.40. M.D.C. has a twelve month low of $15.75 and a twelve month high of $48.99.

M.D.C. (NYSE:MDC) last posted its quarterly earnings results on Tuesday, July 28th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.48. The business 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 firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. As a group, equities analysts expect that M.D.C. will post 3.9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, August 11th. M.D.C.’s dividend payout ratio (DPR) is 35.48%.

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

A number of hedge funds have recently added to or reduced their stakes in MDC. Hamlin Capital Management LLC raised its stake in M.D.C. by 100.0% in the second quarter. Hamlin Capital Management LLC now owns 1,593,691 shares of the construction company’s stock worth $56,895,000 after buying an additional 796,773 shares in the last quarter. Norges Bank purchased a new stake in M.D.C. in the fourth quarter worth about $25,849,000. Advisory Research Inc. purchased a new stake in M.D.C. in the first quarter worth about $10,241,000. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in M.D.C. by 284.2% in 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, Bahl & Gaynor Inc. purchased a new stake in M.D.C. in the first quarter worth about $4,548,000. 75.71% of the stock is owned by 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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