M.D.C. Holdings, Inc. (NYSE:MDC) announced a quarterly dividend on Monday, April 24th. Investors of record on Wednesday, May 10th will be given a dividend of 0.25 per share by the construction company on Wednesday, May 24th. This represents a $1.00 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Monday, May 8th.
M.D.C. Holdings has a payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect M.D.C. Holdings to earn $2.74 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 36.5%.
Shares of M.D.C. Holdings (NYSE:MDC) opened at 33.94 on Wednesday. M.D.C. Holdings has a 52-week low of $21.25 and a 52-week high of $35.99. The stock has a market cap of $1.75 billion, a PE ratio of 15.17 and a beta of 1.33. The company’s 50-day moving average is $31.81 and its 200-day moving average is $28.37.
M.D.C. Holdings (NYSE:MDC) last released its quarterly earnings data on Tuesday, May 9th. The construction company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The firm had revenue of $563.70 million during the quarter, compared to the consensus estimate of $503.65 million. M.D.C. Holdings had a net margin of 4.44% and a return on equity of 8.02%. The firm’s revenue was up 42.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 earnings per share. Equities analysts anticipate that M.D.C. Holdings will post $2.52 EPS for the current year.
A number of research firms have commented on MDC. Citigroup Inc downgraded shares of M.D.C. Holdings from a “buy” rating to a “neutral” rating in a report on Wednesday, May 10th. Zacks Investment Research downgraded shares of M.D.C. Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Wells Fargo & Co downgraded shares of M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 price objective for the company. in a report on Tuesday, May 16th. FBN Securities downgraded shares of M.D.C. Holdings from an “outperform” rating to a “sector perform” rating in a report on Friday, March 17th. Finally, Evercore ISI downgraded shares of M.D.C. Holdings from a “hold” rating to a “sell” rating and set a $26.00 price target for the company. in a report on Monday, January 30th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $29.00.
In related news, Director David E. Blackford sold 10,000 shares of M.D.C. Holdings stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $29.29, for a total transaction of $292,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Herbert T. Buchwald sold 4,400 shares of M.D.C. Holdings stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $29.72, for a total transaction of $130,768.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,250 shares of company stock valued at $7,551,903. Corporate insiders own 26.00% of the company’s stock.
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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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