The stock of M.D.C. Holdings, Inc. (NYSE:MDC) is now priced at $34.61 and the shares are 0.3 points up or 0.87% higher compared to its previous closing price of $34.31. The stock had 330725 contracts set over the past session. MDC shares’ daily volume is compared to its average trading volume at 623912 shares. However, it has a float of 57.97 million and although its performance was 4.63% over the week, it’s one to watch. Analysts have given the MDC stock a yearly average price target of $33.4 per share. It means the stock’s downside potential is -3.5% with the MDC share price recently placing at $34.04 to $35.39.
The shorts are running away from the M.D.C. Holdings, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the MDC shares have declined. Short interest in the stock represents just 2.23% of its float, but the volume has dropped by 0. The volume of shorted shares dropped to from shares over the last two weeks. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, M.D.C. Holdings, Inc. (NYSE:MDC) raised by $1.53 over the week and lost -$0.9 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $48.99. The stock recorded its established 52-week high on 01/30/20.
Since 03/18/20, the stock has traded to a low of $15.75 at 119.75%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.54. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, M.D.C. Holdings, Inc.’s two-week RSI is 52.85. This suggests that the stock is neutral at the moment and that MDC shares’ price movement remains stable. The stochastic readings are equally revealing at 64% meaning the MDC share price is currently in neutral territory.
The technical chart shows that the MDC stock will likely settle at between $35.32 and $36.03 per share. However, if the stock dips below $33.97, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $33.33.
Currently, the stock is trading in the green of MACD, with a reading of 0.35. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Evercore ISI cut their recommendation for MDC from Outperform to In-line in June 05 review while maintai their target price of $37. Wells Fargo analysts downgraded their recommendation of the stock from Equal Weight to Underweight while keeping its target price at $39 to $42 in a flash note released to investors on January 31. Raymond James seeing the improvements upgraded the stock from Outperform to Strong Buy on September 13.
The average rating for the MDC equity is 2.78 and is currently gathering a bullish momentum. Of 9 analysts tracking M.D.C. Holdings, Inc. polled by Reuters, 7 rated MDC as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the MDC stock price is 10.54X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 9.5below the group’s average of 10.2. M.D.C. Holdings, Inc. has its P/E ratio at 1.2, which means that the stock is currently trading at a discount relative to the 1.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for M.D.C. Holdings, Inc. (NYSE:MDC) will increase by about 15.88%, which will see them reach $812.29 million. The company’s full-year revenues are, however, expected to diminish by about -3.04%, down from $3290 million to $3190 million. MDC’s expected adjusted earnings should drop almost -3.49% to end up at $0.83 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -20.7% to record $2.95/share.