Century Communities (NYSE:CCS) Shares Gap Down - Here's What Happened

Key Points

• Century Communities shares opened lower, falling from a prior close of $59.87 to $58.25 and last trading near $58.71.
• Analyst sentiment remains mixed, with two Buy, three Hold, and two Sell ratings; the consensus rating is Hold with an average price target of $67.00.
• The company beat quarterly earnings expectations, reporting EPS of $1.30 versus the $0.63 consensus and revenue of $927.23 million, while revenue declined 8.1% year over year. Century Communities also pays a $0.32 quarterly dividend, representing a 2.2% yield.

Century Communities, Inc. (NYSE:CCS - Get Free Report) shares gapped down prior to trading on Tuesday. The stock had previously closed at $59.87, but opened at $58.25. Century Communities shares last traded at $58.7140, with a volume of 6,971 shares changing hands.

Analyst Ratings Changes

CCS has been the subject of several analyst reports. Zacks Research cut shares of Century Communities from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 21st. Weiss Ratings upgraded Century Communities from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 24th. Wall Street Zen raised Century Communities from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, Zelman & Associates lowered Century Communities from a "neutral" rating to an "underperform" rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $67.00.

Century Communities Price Performance

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 stock's 50-day moving average is $65.71 and its two-hundred day moving average is $61.77. The stock has a market cap of $1.69 billion, a PE ratio of 13.02 and a beta of 1.28.

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

Century Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Wednesday, August 26th. Century Communities's dividend payout ratio (DPR) is 28.07%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Nykredit A S acquired a new stake in Century Communities during the 2nd quarter worth approximately $26,000. Versant Capital Management Inc raised its stake in shares of Century Communities by 56.3% in the third quarter. Versant Capital Management Inc now owns 644 shares of the construction company's stock valued at $39,000 after acquiring an additional 232 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Century Communities in the first quarter valued at $81,000. State of Wyoming purchased a new position in Century Communities in the second quarter valued at $82,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Century Communities in the second quarter valued at $83,000. Institutional investors and hedge funds own 99.54% of the company's stock.

About Century Communities

Century Communities, Inc is a residential homebuilder that designs, constructs, and sells single-family homes and townhomes. The company serves a range of buyers, including first-time homeowners, move-up buyers, and purchasers seeking more affordable housing options.

Century Communities markets homes under the Century Communities and Century Complete brands. Its activities generally include land acquisition and development, community planning, home construction, sales, and customer support.

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