Citigroup Maintains M.D.C. Holdings to Buy with Price Target $29.00

Brokerage firm Citigroup Maintains its rating on M.D.C. Holdings(NYSE:MDC). In a research note issued to the investors, the brokerage major Raises the price-target to $29.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Aug 5, 2016.

In a different note, On May 16, 2016, Deutsche Bank said it Maintains its rating on M.D.C. Holdings. In the research note, the firm Lowers the price-target to $30.00 per share. The shares have been rated ‘Buy’ by the firm.

M.D.C. Holdings (MDC) shares turned negative on Wednesdays trading session with the shares closing down -0.11 points or -0.44% at a volume of 3,96,707. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $25.19. The peak price level was also seen at $25.19 while the days lowest was $24.81. Finally the shares closed at $25.12. The 52-week high of the shares is $31.21 while the 52-week low is $19.28. According to the latest information available, the market cap of the company is $1,232 M.

M.D.C. Holdings(MDC) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $571.51M. Analysts had an estimated revenue of $535.12M. Earnings per share were $0.57. Analysts had estimated an EPS of $0.48.

Several Insider Transactions has been reported to the SEC. 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.

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