Century Communities (NYSE:CCS) Posts Earnings Results, Beats Expectations By $0.21 EPS

Century Communities (NYSE:CCS - Get Free Report) released its quarterly earnings results on Wednesday. The construction company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.21, Zacks reports. Century Communities had a net margin of 6.03% and a return on equity of 10.97%. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $910.70 million. During the same quarter in the prior year, the company earned $2.65 earnings per share. The business's quarterly revenue was down 1.7% compared to the same quarter last year.

Century Communities Price Performance

Shares of NYSE CCS traded down $0.79 during midday trading on Friday, hitting $59.60. 318,886 shares of the company's stock were exchanged, compared to its average volume of 445,785. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 7.28 and a beta of 1.44. The business's fifty day moving average price is $56.16 and its two-hundred day moving average price is $63.39. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.43. Century Communities has a 12-month low of $50.42 and a 12-month high of $108.42.

Century Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 28th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Wednesday, May 28th. Century Communities's payout ratio is 14.16%.

Insider Buying and Selling at Century Communities

In other news, Director Elisa Z. Ramirez acquired 500 shares of the firm's stock in a transaction on Friday, May 9th. The stock was acquired at an average price of $54.68 per share, for a total transaction of $27,340.00. Following the completion of the acquisition, the director owned 8,981 shares in the company, valued at $491,081.08. This trade represents a 5.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 2,400 shares of company stock worth $130,426 over the last ninety days. Corporate insiders own 11.90% of the company's stock.

Institutional Investors Weigh In On Century Communities

A number of institutional investors have recently modified their holdings of CCS. Royal Bank of Canada grew its stake in shares of Century Communities by 6.5% in the first quarter. Royal Bank of Canada now owns 14,837 shares of the construction company's stock worth $995,000 after acquiring an additional 910 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Century Communities by 138.0% during the first quarter. AQR Capital Management LLC now owns 71,831 shares of the construction company's stock valued at $4,820,000 after buying an additional 41,653 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Century Communities by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,429 shares of the construction company's stock valued at $1,102,000 after buying an additional 529 shares during the last quarter. Jones Financial Companies Lllp boosted 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 valued at $81,000 after buying an additional 1,135 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Century Communities by 16.7% during the first quarter. Intech Investment Management LLC now owns 21,096 shares of the construction company's stock valued at $1,416,000 after buying an additional 3,026 shares during the last quarter. 99.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. B. Riley initiated coverage on shares of Century Communities in a research note on Monday, June 30th. They issued a "buy" rating and a $70.00 price target on the stock. Wedbush dropped their price objective on shares of Century Communities from $93.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Century Communities currently has an average rating of "Hold" and an average target price of $85.00.

Century Communities Company Profile

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its homebuyers.