Century Communities (NYSE:CCS) Stock Crosses Below Fifty Day Moving Average - Here's Why

Key Points

• Century Communities’ stock fell below its 50-day moving average, trading as low as $58.01 versus the $65.71 average, with its latest price around $58.32.
• Analyst sentiment is mixed but centers on a “Hold” consensus; the average price target is $67, with two Buy, three Hold, and two Sell ratings.
• The homebuilder beat quarterly earnings and revenue expectations, but revenue declined 8.1% year over year. It also maintains a $0.32 quarterly dividend, equivalent to a 2.2% yield.

Century Communities, Inc. (NYSE:CCS - Get Free Report)'s stock price passed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $65.71 and traded as low as $58.01. Century Communities shares last traded at $58.3220, with a volume of 229,163 shares trading hands.

Analysts Set New Price Targets

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

Century Communities Price Performance

The firm has a market cap of $1.66 billion, a PE ratio of 12.79 and a beta of 1.28. 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 company has a 50 day moving average price of $65.71 and a 200 day moving average price of $61.77.

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

Century Communities Announces Dividend

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

Institutional Investors Weigh In On Century Communities

A number of large investors have recently added to or reduced their stakes in CCS. Versant Capital Management Inc boosted its holdings in shares of Century Communities by 56.3% in the 3rd quarter. Versant Capital Management Inc now owns 644 shares of the construction company's stock valued at $39,000 after buying an additional 232 shares during the period. Illinois Municipal Retirement Fund grew its position in shares of Century Communities by 2.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 15,108 shares of the construction company's stock valued at $867,000 after buying an additional 359 shares during the last quarter. Nykredit A S acquired a new stake in Century Communities during the second quarter worth about $26,000. Campbell Newman Asset Management Inc. raised its stake in Century Communities by 1.7% during the first quarter. Campbell Newman Asset Management Inc. now owns 26,241 shares of the construction company's stock worth $1,506,000 after acquiring an additional 440 shares during the period. Finally, Amundi lifted its holdings in Century Communities by 10.3% in the first quarter. Amundi now owns 5,079 shares of the construction company's stock worth $291,000 after acquiring an additional 475 shares during the last quarter. 99.54% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.