Wedbush Increases M.D.C. (MDC) Price Target to $32.00

M.D.C. (NYSE:MDC) had its target price raised by Wedbush from $31.00 to $32.00 in a research report report published on Monday morning. Wedbush currently has a neutral rating on the construction company’s stock. Wedbush also issued estimates for M.D.C.’s Q2 2019 earnings at $1.05 EPS, Q3 2019 earnings at $1.21 EPS, Q4 2019 earnings at $1.36 EPS, FY2019 earnings at $4.29 EPS and FY2020 earnings at $4.65 EPS.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised M.D.C. from a sell rating to a hold rating in a report on Tuesday, November 6th. ValuEngine raised M.D.C. from a strong sell rating to a sell rating in a report on Friday, October 26th. Evercore ISI raised M.D.C. to an outperform rating and reduced their target price for the company from $33.00 to $31.00 in a report on Thursday, October 25th. They noted that the move was a valuation call. Bank of America set a $34.00 target price on M.D.C. and gave the company a buy rating in a report on Thursday, October 11th. Finally, JPMorgan Chase & Co. downgraded M.D.C. from a neutral rating to an underweight rating and reduced their target price for the company from $38.00 to $32.00 in a report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. M.D.C. currently has a consensus rating of Hold and an average target price of $33.86.

Shares of MDC stock opened at $27.92 on Monday. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. M.D.C. has a fifty-two week low of $25.14 and a fifty-two week high of $36.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.45 and a current ratio of 9.55.



M.D.C. (NYSE:MDC) last issued its earnings results on Thursday, November 1st. The construction company reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.02). The business had revenue of $766.03 million during the quarter, compared to analyst estimates of $778.62 million. M.D.C. had a net margin of 6.21% and a return on equity of 12.96%. The company’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. On average, analysts forecast that M.D.C. will post 3.87 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Tuesday, November 6th. M.D.C.’s dividend payout ratio (DPR) is 46.51%.

In related news, Director Michael A. Berman sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $32.67, for a total transaction of $653,400.00. Following the sale, the director now owns 131,867 shares of the company’s stock, valued at approximately $4,308,094.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Larry A. Mizel sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $33.15, for a total value of $331,500.00. Following the sale, the chairman now directly owns 121,867 shares in the company, valued at approximately $4,039,891.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $1,637,300. 27.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDC. LSV Asset Management boosted its holdings in shares of M.D.C. by 49.8% during the 2nd quarter. LSV Asset Management now owns 2,220,833 shares of the construction company’s stock valued at $68,335,000 after acquiring an additional 737,965 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in M.D.C. during the 2nd quarter worth about $20,821,000. BlackRock Inc. lifted its holdings in M.D.C. by 5.0% during the 2nd quarter. BlackRock Inc. now owns 7,926,690 shares of the construction company’s stock worth $243,905,000 after buying an additional 378,947 shares during the period. Smith Graham & Co. Investment Advisors LP acquired a new position in M.D.C. during the 2nd quarter worth about $7,530,000. Finally, Walthausen & Co. LLC acquired a new position in M.D.C. during the 3rd quarter worth about $6,714,000. 77.34% of the stock is currently 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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