M.D.C. Holdings (MDC) was Downgraded by Deutsche Bank to ” Hold” while Lowering the Price Target of the company shares to $ 27 from a previous price target of $28 . Earlier the firm had a rating of “Buy ” on the company shares. Deutsche Bank advised their investors in a research report released on Aug 8, 2016.
On the company’s financial health, M.D.C. Holdings reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.49. The company had revenue of $571.50 million for the quarter, compared to analysts expectations of $549.89 million. The company’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.
M.D.C. Holdings opened for trading at $25.72 and hit $25.99 on the upside on Friday, eventually ending the session at $25.78, with a gain of 0.78% or 0.2 points. The heightened volatility saw the trading volume jump to 6,20,586 shares. Company has a market cap of $1,264 M.
In a different news, on Feb 6, 2015, John Martin Stephens (SVP, CFO, PAO) sold 1,748 shares at $26.69 per share price.
M.D.C. Holdings Inc. (MDC) is engaged in two primary operations homebuilding and financial services. The Company’s homebuilding operations consist of wholly owned subsidiary companies that purchase finished lots or develop lots to the extent necessary for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes. The Company’s homebuilding operations consist of various homebuilding divisions. Its financial services operations consist of HomeAmerican Mortgage Corporation (HomeAmerican); Allegiant Insurance Company Inc. (Allegiant); StarAmerican Insurance Ltd.; American Home Insurance Agency Inc. and American Home Title and Escrow Company which provides title agency services to its homebuilding subsidiaries and its customers in certain states.