Century Communities (NYSE:CCS) Cut to “Sell” at Wall Street Zen
by Renee Jackson · The Cerbat GemWall Street Zen downgraded shares of Century Communities (NYSE:CCS – Free Report) from a hold rating to a sell rating in a research note released on Saturday.
A number of other research firms have also recently commented on CCS. Weiss Ratings reiterated a “hold (c)” rating on shares of Century Communities in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reduced their price objective on Century Communities from $56.00 to $49.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. Citizens Jmp assumed coverage on Century Communities in a research note on Wednesday, January 21st. They issued a “market outperform” rating and a $92.00 price objective for the company. B. Riley Financial cut Century Communities from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $64.00 in a research note on Thursday, April 23rd. Finally, Citigroup assumed coverage on Century Communities in a research note on Wednesday, January 21st. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.33.
Get Our Latest Stock Report on CCS
Century Communities Trading Down 1.2%
Century Communities stock opened at $59.08 on Friday. The stock has a 50-day moving average of $61.27 and a two-hundred day moving average of $62.32. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.57. Century Communities has a one year low of $50.42 and a one year high of $76.00. The stock has a market cap of $1.70 billion, a PE ratio of 13.31 and a beta of 1.56.
Century Communities (NYSE:CCS – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.27. Century Communities had a return on equity of 6.24% and a net margin of 3.31%.The company had revenue of $789.67 million during the quarter, compared to analysts’ expectations of $961.12 million. During the same period last year, the business posted $1.36 earnings per share. The firm’s revenue was down 16.9% compared to the same quarter last year. On average, research analysts anticipate that Century Communities will post 3.84 EPS for the current fiscal year.
Century Communities Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were paid a $0.32 dividend. The ex-dividend date was Wednesday, February 25th. This is a positive change from Century Communities’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.2%. Century Communities’s dividend payout ratio (DPR) is 28.83%.
Insider Activity
In other news, Chairman Dale Francescon sold 100,100 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $72.44, for a total value of $7,251,244.00. Following the completion of the transaction, the chairman directly owned 561,662 shares in the company, valued at $40,686,795.28. This trade represents a 15.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 13.70% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of CCS. New South Capital Management Inc. grew its holdings in Century Communities by 285.1% during the fourth quarter. New South Capital Management Inc. now owns 609,425 shares of the construction company’s stock worth $36,169,000 after acquiring an additional 451,187 shares during the period. Balyasny Asset Management L.P. grew its holdings in Century Communities by 32.2% during the second quarter. Balyasny Asset Management L.P. now owns 1,044,604 shares of the construction company’s stock worth $58,832,000 after acquiring an additional 254,186 shares during the period. Goldman Sachs Group Inc. grew its holdings in Century Communities by 58.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 509,499 shares of the construction company’s stock worth $30,239,000 after acquiring an additional 186,938 shares during the period. Norges Bank acquired a new stake in Century Communities during the fourth quarter worth about $10,386,000. Finally, Wellington Management Group LLP grew its holdings in Century Communities by 9.3% during the fourth quarter. Wellington Management Group LLP now owns 1,631,055 shares of the construction company’s stock worth $96,803,000 after acquiring an additional 139,141 shares during the period. 99.54% of the stock is currently owned by hedge funds and other institutional investors.
Century Communities Company 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.