Analysts Expect Century Communities, Inc. (CCS) Will Post Quarterly Sales of $412.58 Million
Analysts predict that Century Communities, Inc. (NYSE:CCS) will post $412.58 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Century Communities’ earnings. The lowest sales estimate is $410.20 million and the highest is $414.95 million. Century Communities reported sales of $253.41 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 62.8%. The business is scheduled to issue its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Century Communities will report full-year sales of $412.58 million for the current fiscal year, with estimates ranging from $1.41 billion to $1.42 billion. For the next fiscal year, analysts expect that the company will report sales of $1.81 billion per share, with estimates ranging from $1.77 billion to $1.85 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Century Communities.
Century Communities (NYSE:CCS) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $287.60 million for the quarter, compared to analyst estimates of $305.38 million. Century Communities had a return on equity of 10.74% and a net margin of 4.87%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share.
CCS has been the topic of a number of research reports. J P Morgan Chase & Co upgraded Century Communities from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $28.00 to $32.00 in a research note on Thursday. Citigroup Inc. restated a “buy” rating and issued a $30.00 price objective on shares of Century Communities in a research note on Tuesday, August 8th. ValuEngine upgraded Century Communities from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered Century Communities from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $29.80.
A number of hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. grew its holdings in Century Communities by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 19,586 shares of the construction company’s stock valued at $486,000 after buying an additional 51 shares in the last quarter. Legal & General Group Plc grew its holdings in Century Communities by 6.9% during the 1st quarter. Legal & General Group Plc now owns 4,323 shares of the construction company’s stock valued at $110,000 after buying an additional 278 shares in the last quarter. American International Group Inc. grew its holdings in Century Communities by 7.2% during the 1st quarter. American International Group Inc. now owns 9,383 shares of the construction company’s stock valued at $238,000 after buying an additional 633 shares in the last quarter. California State Teachers Retirement System grew its holdings in Century Communities by 2.3% during the 2nd quarter. California State Teachers Retirement System now owns 30,670 shares of the construction company’s stock valued at $761,000 after buying an additional 700 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in Century Communities by 12.2% during the 2nd quarter. Voya Investment Management LLC now owns 11,407 shares of the construction company’s stock valued at $283,000 after buying an additional 1,236 shares in the last quarter. 59.80% of the stock is owned by institutional investors and hedge funds.
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Shares of Century Communities (NYSE:CCS) opened at 24.20 on Friday. Century Communities has a 52 week low of $18.45 and a 52 week high of $28.05. The firm’s 50-day moving average is $23.56 and its 200-day moving average is $24.99. The firm has a market capitalization of $544.48 million, a P/E ratio of 10.16 and a beta of 1.04.
About Century Communities
Century Communities, Inc engages in homebuilding business in Atlanta, Central Texas, Colorado, Houston, Nevada, and Utah. It is involved in the development, design, construction, marketing, and sale of single-family attached and detached homes, as well as entitlement and development of land. The company sells homes through its sales representatives, as well as through independent real estate brokers.
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