Century Communities’ (CCS) Underperform Rating Reaffirmed at Wedbush

Wedbush restated their underperform rating on shares of Century Communities (NYSE:CCS) in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have a $82.00 price objective on the construction company’s stock. Wedbush also issued estimates for Century Communities’ Q2 2024 earnings at $2.36 EPS, Q4 2024 earnings at $3.34 EPS, Q2 2025 earnings at $2.57 EPS and FY2025 earnings at $11.27 EPS.

Separately, B. Riley lifted their price target on shares of Century Communities from $100.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, February 1st.

Century Communities Trading Up 0.6 %

Shares of CCS stock opened at $78.82 on Thursday. Century Communities has a 1 year low of $58.01 and a 1 year high of $97.92. The firm’s fifty day simple moving average is $86.39 and its 200 day simple moving average is $81.26. The firm has a market capitalization of $2.50 billion, a P/E ratio of 8.75 and a beta of 1.71. The company has a current ratio of 1.20, a quick ratio of 1.46 and a debt-to-equity ratio of 0.44.

Century Communities (NYSE:CCS) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.67. Century Communities had a net margin of 7.47% and a return on equity of 12.90%. The firm had revenue of $948.54 million for the quarter, compared to the consensus estimate of $791.67 million. As a group, sell-side analysts predict that Century Communities will post 10.36 EPS for the current year.

Century Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 28th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Tuesday, February 27th. This is an increase from Century Communities’s previous quarterly dividend of $0.23. Century Communities’s payout ratio is currently 11.54%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in Century Communities by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,616,401 shares of the construction company’s stock worth $238,460,000 after buying an additional 17,842 shares in the last quarter. Vanguard Group Inc. raised its holdings in Century Communities by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,020,013 shares of the construction company’s stock worth $184,104,000 after purchasing an additional 29,989 shares during the last quarter. Jennison Associates LLC raised its holdings in Century Communities by 17.3% during the 3rd quarter. Jennison Associates LLC now owns 1,114,466 shares of the construction company’s stock worth $74,424,000 after purchasing an additional 164,478 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Century Communities by 21.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,036,025 shares of the construction company’s stock worth $94,423,000 after purchasing an additional 180,095 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Century Communities by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 434,550 shares of the construction company’s stock worth $39,605,000 after purchasing an additional 8,214 shares during the last quarter. Institutional investors and hedge funds own 99.54% of the company’s stock.

About Century Communities

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its homebuyers.