Century Communities (NYSE:CCS) Shares Up 6.5% - What's Next?

Key Points

• Century Communities shares rose 6.5% to about $57.83, although trading volume was 89% below the stock’s average session volume.
• Analysts maintain a consensus “Hold” rating with a $67.00 price target; ratings include two Buys, three Holds, and two Sells.
• The company exceeded quarterly expectations, reporting $1.30 EPS versus $0.63 estimated and revenue of $927.23 million, though revenue declined 8.1% year over year. It also pays a $0.32 quarterly dividend, yielding approximately 2.2%.

Century Communities, Inc. (NYSE:CCS - Get Free Report) shares rose 6.5% on Thursday. The company traded as high as $57.63 and last traded at $57.8340. Approximately 30,983 shares were traded during mid-day trading, a decline of 89% from the average session volume of 288,027 shares. The stock had previously closed at $54.28.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CCS shares. Weiss Ratings raised shares of Century Communities from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 24th. Zacks Research lowered Century Communities from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 21st. Finally, Zelman & Associates cut Century Communities from a "neutral" rating to an "underperform" rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Century Communities presently has an average rating of "Hold" and a consensus price target of $67.00.

Century Communities Stock Performance

The stock's 50-day moving average is $62.28 and its 200-day moving average is $61.67. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 12.78 and a beta of 1.28.

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

Century Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were given a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a $1.28 annualized dividend and a dividend yield of 2.2%. Century Communities's dividend payout ratio is presently 28.07%.

Hedge Funds Weigh In On Century Communities

A number of hedge funds have recently made changes to their positions in the business. Nykredit A S purchased a new stake in Century Communities during the 2nd quarter worth $26,000. Farther Finance Advisors LLC increased its holdings in Century Communities by 287.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 430 shares of the construction company's stock valued at $26,000 after purchasing an additional 319 shares in the last quarter. Versant Capital Management Inc raised its position in 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 purchasing an additional 232 shares during the period. Meeder Asset Management Inc. purchased a new position in Century Communities in the first quarter valued at about $81,000. Finally, State of Wyoming purchased a new position in Century Communities in the second quarter valued at about $82,000. Hedge funds and other institutional investors own 99.54% of the company's stock.

Century Communities Company Profile

Century Communities, Inc NYSE: CCS is a residential homebuilder that designs, develops and constructs single-family detached and attached homes for a range of homebuyers, including first-time, move-up and active-adult buyers. The company sells homes under the Century Communities and Century Complete brands, offering a variety of floor plans, home features and community amenities.

Founded in 2000 and headquartered in Denver, Colorado, Century Communities operates in numerous housing markets across the Western, Southern and Southeastern United States.

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