Century Communities (NYSE:CCS) Downgraded to “Neutral” at Wedbush

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Century Communities (NYSE:CCS) was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report issued on Thursday, MarketBeat reports. They currently have a $38.00 price target on the construction company’s stock. Wedbush’s price target would indicate a potential upside of 1.74% from the company’s previous close. Wedbush also issued estimates for Century Communities’ Q1 2020 earnings at $0.57 EPS, Q4 2020 earnings at $1.55 EPS, FY2020 earnings at $4.50 EPS, Q1 2021 earnings at $0.64 EPS, Q3 2021 earnings at $1.41 EPS, Q4 2021 earnings at $1.70 EPS and FY2021 earnings at $5.00 EPS. The analysts noted that the move was a valuation call.

CCS has been the topic of several other reports. ValuEngine upgraded Century Communities from a “strong sell” rating to a “sell” rating in a research note on Friday, February 7th. B. Riley increased their price objective on Century Communities from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Zacks Investment Research upgraded Century Communities from a “sell” rating to a “hold” rating and set a $42.00 price objective on the stock in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.13.

Shares of NYSE CCS opened at $37.35 on Thursday. The stock has a market cap of $1.24 billion, a P/E ratio of 10.46 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.32 and a debt-to-equity ratio of 0.84. Century Communities has a 12-month low of $21.95 and a 12-month high of $38.27. The business’s fifty day simple moving average is $30.41 and its 200-day simple moving average is $29.30.

Century Communities (NYSE:CCS) last announced its quarterly earnings data on Thursday, February 6th. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.23. The business had revenue of $775.70 million for the quarter, compared to analysts’ expectations of $740.00 million. Century Communities had a return on equity of 12.50% and a net margin of 4.46%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the firm earned $1.11 earnings per share. On average, equities analysts forecast that Century Communities will post 4.5 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of CCS. Quantbot Technologies LP purchased a new position in Century Communities in the fourth quarter valued at $45,000. Tower Research Capital LLC TRC purchased a new position in Century Communities in the third quarter valued at $49,000. Aigen Investment Management LP purchased a new position in Century Communities in the fourth quarter valued at $85,000. Point72 Hong Kong Ltd purchased a new position in Century Communities in the fourth quarter valued at $85,000. Finally, Bank of Montreal Can increased its holdings in Century Communities by 46.8% in the fourth quarter. Bank of Montreal Can now owns 3,511 shares of the construction company’s stock valued at $96,000 after buying an additional 1,120 shares during the last quarter. 96.17% of the stock is currently owned by hedge funds and other institutional investors.

About Century Communities

Century Communities, Inc engages in the design, development, construction, marketing, and sale of single-family attached and detached homes in metropolitan areas in Alabama, Arizona, California, Colorado, Florida, Georgia, Indiana, Nevada, North Carolina, Ohio, South Carolina, Tennessee, Texas, Utah, and Washington.

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