Jefferies Financial Group Inc. Makes New Investment in Century Communities, Inc. $CCS

Key Points

• Jefferies Financial Group initiated a position in Century Communities, purchasing 21,057 shares worth approximately $1.5 million. Institutional investors collectively own 99.54% of the homebuilder’s stock.
• Century Communities beat quarterly earnings expectations, reporting $1.30 in EPS versus the $0.63 consensus estimate and $927.2 million in revenue, although revenue declined 8.1% year over year.
• The company declared a quarterly dividend of $0.32 per share, equivalent to a 1.8% annualized yield. Analysts’ consensus rating remains Hold, with a $67 price target compared with the stock’s reported $69.21 price.

Jefferies Financial Group Inc. purchased a new position in Century Communities, Inc. (NYSE:CCS - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 21,057 shares of the construction company's stock, valued at approximately $1,509,000. Jefferies Financial Group Inc. owned 0.07% of Century Communities at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in Century Communities during the 2nd quarter worth about $8,034,000. Bank of America Corp DE bought a new stake in shares of Century Communities during the second quarter valued at about $12,589,000. Basswood Capital Management L.L.C. bought a new stake in shares of Century Communities during the second quarter valued at about $533,000. Freestone Grove Partners LP purchased a new stake in shares of Century Communities in the second quarter worth about $478,000. Finally, Odyssean LLC bought a new position in shares of Century Communities in the second quarter valued at approximately $784,000. 99.54% of the stock is currently owned by hedge funds and other institutional investors.

Century Communities Trading Up 1.2%

Shares of CCS stock opened at $69.21 on Friday. The business has a 50-day moving average price of $68.46 and a two-hundred day moving average price of $62.67. Century Communities, Inc. has a 12-month low of $47.28 and a 12-month high of $76.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.97 billion, a P/E ratio of 15.18 and a beta of 1.30.

Century Communities (NYSE:CCS - Get Free Report) 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 firm 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 6.06% and a net margin of 3.41%.The company's revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 EPS. Equities analysts anticipate that Century Communities, Inc. will post 4.86 EPS for the current fiscal year.

Century Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. Century Communities's dividend payout ratio (DPR) is 28.07%.

Analysts Set New Price Targets

CCS has been the topic of a number of analyst reports. Weiss Ratings raised shares of Century Communities from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 24th. Zelman & Associates downgraded Century Communities from a "neutral" rating to an "underperform" rating in a research report on Tuesday, July 7th. Wall Street Zen raised Century Communities from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, Zacks Research upgraded Century Communities from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Century Communities currently has a consensus rating of "Hold" and a consensus price target of $67.00.

Century Communities 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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