M.D.C. Holdings Bumps up Quarterly Dividend by 25%
M.D.C. Holdings (MDC) raised its quarterly dividend by 25% to $0.50 per share. The company is a provider of homebuilding and financial services.
Notably, MDC shares have gained 20% over the past year. (See M.D.C. Holdings stock charts on TipRanks)
The dividend is payable on November 24 to shareholders of record on November 10. The annual dividend of $2 per share now reflects a dividend yield of 4%.
However, M.D.C. Holdings reported lower-than-expected Q3 results. Earnings of $1.99 per share fell short of the Street’s estimates of $2.17. Further, total revenues of $1.3 billion also failed to meet the consensus estimate of $1.41 billion.
JPMorgan analyst Michael Rehaut recently downgraded M.D.C. Holdings to Hold from Buy with a price target of $66 (31.6% upside potential).
Overall, the stock has a Moderate Buy consensus rating based on 2 Buys and 2 Holds. The average M.D.C. Holdings price target of $73.50 implies 46.5% upside potential from current levels.
UPS Reports Stellar Quarterly Beat; Shares Surge 6.8%
Range Resources Q3 Revenues Disappoint; Shares Plunge 5.3% After-Hours
Hudson Pacific Reports Upbeat Q3 Results