Century Communities (NYSE:CCS) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Century Communities (NYSE:CCS) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen raised Century Communities from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Zelman & Associates lowered shares of Century Communities from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings raised shares of Century Communities from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 24th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Century Communities has an average rating of “Hold” and an average target price of $67.00.

Century Communities Trading Up 3.7%

Shares of CCS stock opened at $63.94 on Monday. Century Communities has a 52-week low of $47.28 and a 52-week high of $76.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $1.82 billion, a PE ratio of 14.02 and a beta of 1.30. The stock has a fifty day simple moving average of $66.80 and a two-hundred day simple moving average of $61.69.

Century Communities (NYSE:CCS) last announced its quarterly earnings data on Wednesday, July 22nd. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $0.63 by $0.67. The business had revenue of $927.23 million for the quarter, compared to the consensus estimate of $857.23 million. Century Communities had a return on equity of 6.06% and a net margin of 3.41%.The business’s revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 earnings per share. On average, analysts predict that Century Communities will post 4.86 EPS for the current fiscal year.

Century Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 26th. Century Communities’s payout ratio is 28.07%.

Hedge Funds Weigh In On Century Communities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCS. BlackRock Inc. bought a new stake in shares of Century Communities in the 2nd quarter valued at approximately $367,973,000. Heartland Advisors Inc. bought a new position in shares of Century Communities during the 2nd quarter valued at approximately $37,006,000. Lakewood Capital Management LP purchased a new stake in Century Communities during the 2nd quarter valued at $34,898,000. Bank of New York Mellon Corp purchased a new stake in Century Communities during the 2nd quarter valued at $20,055,000. Finally, Bank of America Corp DE bought a new stake in Century Communities in the second quarter worth $12,589,000. 99.54% of the stock is owned by institutional investors.

About Century Communities

Century Communities, Inc is a homebuilding company headquartered in Denver, Colorado. Founded in 2002, the company develops and constructs single-family homes and townhomes for first-time, move-up and active-adult buyers.

The company markets homes under the Century Communities and Century Complete brands. Century Communities generally offers homes through its traditional sales model, while Century Complete focuses on streamlined, value-oriented homebuying, including online purchasing in select communities.