Century Communities (NYSE:CCS) Issues Quarterly Earnings Results
by Mitch Edgeman · The Markets DailyCentury Communities (NYSE:CCS – Get Free Report) posted its earnings results on Wednesday. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.14), FiscalAI reports. The business had revenue of $789.67 million for the quarter, compared to analyst estimates of $961.12 million. Century Communities had a return on equity of 6.87% and a net margin of 3.58%.
Century Communities Trading Down 0.3%
Shares of NYSE CCS traded down $0.19 during trading on Wednesday, reaching $63.62. The stock had a trading volume of 202,239 shares, compared to its average volume of 271,228. Century Communities has a fifty-two week low of $50.42 and a fifty-two week high of $76.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.08 and a current ratio of 1.08. The business’s 50-day moving average price is $62.34 and its 200-day moving average price is $62.30. The company has a market cap of $1.85 billion, a P/E ratio of 13.09 and a beta of 1.56.
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 of this dividend was Wednesday, February 25th. This is a boost from Century Communities’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. Century Communities’s payout ratio is presently 26.34%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Century Communities in a research note on Wednesday, January 21st. Citigroup assumed coverage on Century Communities in a research note on Wednesday, January 21st. They set an “outperform” rating for the company. Citizens Jmp assumed coverage on Century Communities in a research note on Wednesday, January 21st. They set a “market outperform” rating and a $92.00 target price for the company. Zacks Research raised Century Communities from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Finally, B. Riley Financial reissued a “buy” rating on shares of Century Communities in a research note on Thursday, January 29th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Century Communities currently has an average rating of “Hold” and a consensus target price of $74.75.
View Our Latest Stock Report on CCS
Insider Buying and Selling at Century Communities
In other news, Chairman Dale Francescon sold 100,100 shares of Century Communities stock in a transaction on 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 sale, the chairman directly owned 561,662 shares of the company’s stock, valued at approximately $40,686,795.28. The trade was a 15.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.70% of the company’s stock.
Institutional Investors Weigh In On Century Communities
A number of institutional investors have recently modified their holdings of CCS. Royal Bank of Canada grew its stake in shares of Century Communities by 6.5% in the first quarter. Royal Bank of Canada now owns 14,837 shares of the construction company’s stock valued at $995,000 after buying an additional 910 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Century Communities by 138.0% in the first quarter. AQR Capital Management LLC now owns 71,831 shares of the construction company’s stock valued at $4,820,000 after buying an additional 41,653 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Century Communities by 3.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,429 shares of the construction company’s stock valued at $1,102,000 after buying an additional 529 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Century Communities by 1,513.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company’s stock valued at $81,000 after buying an additional 1,135 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Century Communities by 16.7% in the first quarter. Intech Investment Management LLC now owns 21,096 shares of the construction company’s stock valued at $1,416,000 after buying an additional 3,026 shares in the last quarter. 99.54% of the stock is owned by institutional investors and hedge funds.
About Century Communities
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.