Century Communities (NYSE:CCS) Stock Price Up 9.1% – Here’s What Happened

Century Communities, Inc. (NYSE:CCS)’s stock price traded up 9.1% during mid-day trading on Wednesday . The stock traded as high as $68.60 and last traded at $68.5120. Approximately 24,224 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 300,911 shares. The stock had previously closed at $62.78.

Wall Street Analyst Weigh In

A number of research firms recently commented on CCS. Weiss Ratings downgraded Century Communities from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Zacks Research upgraded Century Communities from a “strong sell” rating to a “hold” rating in a report on Monday. B. Riley Financial lowered Century Communities from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $75.00 to $64.00 in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lowered their price target on Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Century Communities from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $67.00.

Century Communities Stock Up 0.2%

The company has a market cap of $1.99 billion, a price-to-earnings ratio of 15.61 and a beta of 1.34. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $57.02 and its 200-day moving average price is $60.95.

Century Communities (NYSE:CCS) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.61 by $0.27. The business had revenue of $789.67 million for the quarter, compared to the consensus estimate of $961.12 million. Century Communities had a return on equity of 6.24% and a net margin of 3.31%.The firm’s revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. Sell-side analysts predict that Century Communities, Inc. will post 3.84 earnings per share for the current year.

Century Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 27th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, May 27th. Century Communities’s dividend payout ratio is 28.83%.

Hedge Funds Weigh In On Century Communities

Several institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC raised its holdings in Century Communities by 207.6% during the 4th quarter. Parallel Advisors LLC now owns 609 shares of the construction company’s stock worth $36,000 after buying an additional 411 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Century Communities by 175.5% in the second quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company’s stock valued at $41,000 after buying an additional 465 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Century Communities during the fourth quarter worth $70,000. Meeder Asset Management Inc. bought a new stake in shares of Century Communities during the first quarter worth $81,000. Finally, Jones Financial Companies Lllp increased its position in shares of Century Communities by 1,513.3% during the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company’s stock worth $81,000 after acquiring an additional 1,135 shares in the last quarter. 99.54% of the stock is currently owned by institutional investors and hedge funds.

Century Communities Company Profile

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.