Century Communities (NYSE:CCS) Issues Quarterly Earnings Results

Century Communities (NYSE:CCS) posted its earnings results on Wednesday. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.66, FiscalAI reports. 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 Stock Performance

Shares of NYSE CCS traded up $0.85 during midday trading on Wednesday, reaching $64.65. The company had a trading volume of 226,078 shares, compared to its average volume of 304,477. Century Communities has a 1 year low of $47.28 and a 1 year high of $76.00. The business’s 50-day simple moving average is $60.31 and its 200 day simple moving average is $61.78. 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 stock has a market cap of $1.86 billion, a P/E ratio of 14.56 and a beta of 1.29.

Century Communities Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. Century Communities’s dividend payout ratio (DPR) is currently 28.83%.

Hedge Funds Weigh In On Century Communities

Several hedge funds have recently made changes to their positions in the company. Invesco Ltd. lifted its position in Century Communities by 23.8% during the 4th quarter. Invesco Ltd. now owns 180,382 shares of the construction company’s stock worth $10,706,000 after acquiring an additional 34,653 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of Century Communities by 18.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,557 shares of the construction company’s stock valued at $389,000 after purchasing an additional 1,044 shares during the period. Wellington Management Group LLP increased its holdings in shares of Century Communities by 9.3% in the fourth quarter. Wellington Management Group LLP now owns 1,631,055 shares of the construction company’s stock valued at $96,803,000 after purchasing an additional 139,141 shares during the period. SummitTX Capital L.P. purchased a new position in shares of Century Communities in the fourth quarter worth about $4,887,000. Finally, Numerai GP LLC raised its stake in shares of Century Communities by 8.2% in the fourth quarter. Numerai GP LLC now owns 6,762 shares of the construction company’s stock worth $401,000 after purchasing an additional 513 shares during the last quarter. 99.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Century Communities from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. B. Riley Financial lowered Century Communities from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $75.00 to $64.00 in a report on Thursday, April 23rd. Zacks Research raised Century Communities from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Zelman & Associates downgraded Century Communities from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. reduced their target price on Century Communities from $49.00 to $45.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $67.00.

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.