Century Communities (NYSE:CCS) Releases Quarterly Earnings Results, Beats Expectations By $0.66 EPS

Key Points

• Century Communities beat quarterly expectations, reporting EPS of $1.30 versus the $0.64 consensus estimate, and revenue of $927.23 million versus expectations of $857.23 million.
• The stock rose 1.3% after the results, trading at $64.65, while the company posted a return on equity of 6.24% and a net margin of 3.31%.
• Century Communities also paid a quarterly dividend of $0.32 per share, equal to an annualized yield of about 2.0%, while analysts currently have an average rating of “Reduce” and a consensus target price of $67.00.

Century Communities (NYSE:CCS - Get Free Report) issued its quarterly earnings results on Wednesday. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.66, FiscalAI reports. Century Communities had a return on equity of 6.24% and a net margin of 3.31%.The firm had revenue of $927.23 million during the quarter, compared to analyst estimates of $857.23 million.

Century Communities Stock Up 1.3%

Century Communities stock traded up $0.85 during midday trading on Wednesday, hitting $64.65. 226,078 shares of the company's stock were exchanged, compared to its average volume of 304,477. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.57. Century Communities has a 12 month low of $47.28 and a 12 month high of $76.00. The firm has a 50-day moving average of $60.31 and a two-hundred day moving average of $61.78. The company has a market cap of $1.86 billion, a PE ratio of 14.56 and a beta of 1.29.

Century Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 27th were paid 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 yield of 2.0%. Century Communities's dividend payout ratio is 28.83%.

Analyst Ratings Changes

A number of research firms have weighed in on CCS. B. Riley Financial lowered Century Communities from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $75.00 to $64.00 in a research note on Thursday, April 23rd. Wall Street Zen upgraded shares of Century Communities from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. JPMorgan Chase & Co. reduced their price target on shares of Century Communities from $49.00 to $45.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 29th. Zelman & Associates cut shares of Century Communities from a "neutral" rating to an "underperform" rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings downgraded shares of Century Communities from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 13th. 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. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $67.00.

Institutional Investors Weigh In On Century Communities

Several large investors have recently modified their holdings of the business. Rafferty Asset Management LLC increased its holdings in Century Communities by 12.5% during the second quarter. Rafferty Asset Management LLC now owns 21,815 shares of the construction company's stock valued at $1,229,000 after buying an additional 2,423 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Century Communities by 3.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,429 shares of the construction company's stock worth $1,102,000 after buying an additional 529 shares in the last quarter. Royal Bank of Canada lifted its holdings in Century Communities by 6.5% during the first quarter. Royal Bank of Canada now owns 14,837 shares of the construction company's stock worth $995,000 after buying an additional 910 shares during the period. Guggenheim Capital LLC purchased a new stake in Century Communities during the fourth quarter worth $605,000. Finally, State of Wisconsin Investment Board bought a new stake in Century Communities during the 4th quarter valued at $559,000. Institutional investors own 99.54% of the company's stock.

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.

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