Century Communities (NYSE:CCS) Trading Up 9.6% on Strong Earnings

Century Communities, Inc. (NYSE:CCSGet Free Report) shares traded up 9.6% on Thursday following a stronger than expected earnings report. The stock traded as high as $72.34 and last traded at $70.7120. Approximately 84,644 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 302,584 shares. The stock had previously closed at $64.53.

The construction company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.67. The company had revenue of $927.23 million for the quarter, compared to analyst estimates of $857.23 million. Century Communities had a return on equity of 6.24% and a net margin of 3.31%.Century Communities’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 earnings per share.

Century Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 27th were issued a dividend of $0.32 per share. 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 (DPR) is currently 28.83%.

Key Century Communities News

Here are the key news stories impacting Century Communities this week:

Analysts Set New Price Targets

Several equities analysts have recently commented on CCS shares. B. Riley Financial cut shares of Century Communities from a “buy” rating to a “neutral” rating and lowered their price target for the company from $75.00 to $64.00 in a report on Thursday, April 23rd. JPMorgan Chase & Co. reduced their price objective on Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a research report on Wednesday, April 29th. Weiss Ratings downgraded Century Communities from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Wall Street Zen raised Century Communities from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Zelman & Associates downgraded Century Communities from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Century Communities has an average rating of “Reduce” and a consensus target price of $67.00.

View Our Latest Report on CCS

Hedge Funds Weigh In On Century Communities

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC increased its position in Century Communities by 207.6% in 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 position 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 acquiring an additional 465 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Century Communities in the fourth quarter valued at approximately $70,000. Meeder Asset Management Inc. acquired a new stake in shares of Century Communities in the first quarter worth $81,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Century Communities by 1,513.3% in 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 during the last quarter. 99.54% of the stock is owned by institutional investors and hedge funds.

Century Communities Price Performance

The stock’s 50-day moving average is $60.56 and its 200-day moving average is $61.81. The firm has a market cap of $2.06 billion, a P/E ratio of 16.10 and a beta of 1.29. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.44.

About Century Communities

(Get Free Report)

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.

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