Century Communities (NYSE:CCS) Trading 9.1% Higher – Here’s Why

Century Communities, Inc. (NYSE:CCS) shares traded up 9.1% during mid-day trading on Wednesday . The company traded as high as $68.60 and last traded at $68.5120. Approximately 24,224 shares changed hands during trading, a decline of 92% from the average session volume of 300,911 shares. The stock had previously closed at $62.78.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CCS shares. Zacks Research upgraded Century Communities from a “strong sell” rating to a “hold” rating in a research note on Monday. Wall Street Zen raised shares of Century Communities from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings cut shares of Century Communities from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. reduced their price target on shares of Century Communities from $49.00 to $45.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 29th. Finally, B. Riley Financial lowered shares of Century Communities from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $75.00 to $64.00 in a report on Thursday, April 23rd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Century Communities Stock Up 12.0%

The firm has a market capitalization of $2.02 billion, a P/E ratio of 15.83 and a beta of 1.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.57. The business’s fifty day moving average price is $56.66 and its two-hundred day moving average price is $60.85.

Century Communities (NYSE:CCS) last announced its earnings results on Wednesday, April 22nd. The construction company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.27. The firm had revenue of $789.67 million for the quarter, compared to the consensus estimate of $961.12 million. Century Communities had a return on equity of 6.24% and a net margin of 3.31%.The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 EPS. Equities analysts expect that Century Communities, Inc. will post 3.84 earnings per share for the current fiscal year.

Century Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 27th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, May 27th. Century Communities’s dividend payout ratio is 28.83%.

Hedge Funds Weigh In On Century Communities

A number of institutional investors have recently modified their holdings of the stock. Axiom Investment Management LLC acquired a new position in shares of Century Communities in the first quarter worth about $287,000. EMG Holdings L.P. grew its position in shares of Century Communities by 307.2% during the 1st quarter. EMG Holdings L.P. now owns 56,285 shares of the construction company’s stock valued at $3,230,000 after acquiring an additional 42,464 shares during the period. Bank of America Corp DE grew its position in shares of Century Communities by 4.9% during the 1st quarter. Bank of America Corp DE now owns 153,996 shares of the construction company’s stock valued at $8,836,000 after acquiring an additional 7,134 shares during the period. Amundi increased its stake in shares of Century Communities by 10.3% in the 1st quarter. Amundi now owns 5,079 shares of the construction company’s stock valued at $291,000 after purchasing an additional 475 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Century Communities by 32.9% in the 1st quarter. California State Teachers Retirement System now owns 32,443 shares of the construction company’s stock valued at $1,862,000 after purchasing an additional 8,026 shares in the last quarter. Hedge funds and other institutional investors own 99.54% of the company’s stock.

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.