Century Communities (NYSE:CCS) Stock Passes Below 50 Day Moving Average - Here's What Happened

Key Points

• Century Communities shares fell below their 50-day moving average, trading as low as $60.60 before closing at $61.69, compared with a 50-day average of $66.83.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $67 price target. Recent ratings ranged from “Strong Buy” to “Underperform.”
• The company beat quarterly expectations, reporting $1.30 EPS versus the $0.63 estimate and $927.23 million in revenue, while maintaining a quarterly dividend of $0.32 per share.

Shares of Century Communities, Inc. (NYSE:CCS - Get Free Report) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $66.83 and traded as low as $60.60. Century Communities shares last traded at $61.69, with a volume of 186,778 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. 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 shares of Century Communities from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Zacks Research upgraded shares of Century Communities from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Finally, Zelman & Associates cut shares of Century Communities from a "neutral" rating to an "underperform" rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Century Communities has a consensus rating of "Hold" and a consensus target price of $67.00.

Century Communities Stock Performance

The stock has a 50-day moving average of $66.83 and a 200 day moving average of $61.70. The firm has a market capitalization of $1.75 billion, a P/E ratio of 13.53 and a beta of 1.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.56 and a current ratio of 0.56.

Century Communities (NYSE:CCS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The construction company reported $1.30 earnings per share (EPS) 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%.The business's revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS. On average, research analysts anticipate that Century Communities, Inc. will post 4.86 earnings per share for the current year.

Century Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, August 26th. Century Communities's payout ratio is currently 28.07%.

Institutional Investors Weigh In On Century Communities

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Century Communities in the second quarter worth about $367,973,000. Wellington Management Group LLP grew its stake in shares of Century Communities by 15.1% during the second quarter. Wellington Management Group LLP now owns 1,050,982 shares of the construction company's stock valued at $75,313,000 after purchasing an additional 137,957 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in shares of Century Communities in the second quarter valued at approximately $37,006,000. Lakewood Capital Management LP acquired a new stake in shares of Century Communities in the second quarter valued at approximately $34,898,000. Finally, Jennison Associates LLC raised its position in Century Communities by 4.9% in the 1st quarter. Jennison Associates LLC now owns 349,512 shares of the construction company's stock worth $20,055,000 after purchasing an additional 16,467 shares during the last quarter. Institutional investors own 99.54% of the company's stock.

Century Communities Company Profile

Century Communities, Inc is a homebuilding company headquartered in Denver, Colorado. Founded in 2002, the company develops and constructs single-family homes and townhomes for first-time, move-up and active-adult buyers.

The company markets homes under the Century Communities and Century Complete brands. Century Communities generally offers homes through its traditional sales model, while Century Complete focuses on streamlined, value-oriented homebuying, including online purchasing in select communities.

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