Century Communities, Inc. (CCS) Expected to Post Quarterly Sales of $410.94 Million
Brokerages predict that Century Communities, Inc. (NYSE:CCS) will announce $410.94 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Century Communities’ earnings, with the lowest sales estimate coming in at $407.67 million and the highest estimate coming in at $414.95 million. Century Communities posted sales of $253.41 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 62.2%. The firm is scheduled to announce its next earnings results on Tuesday, November 7th.
On average, analysts expect that Century Communities will report full-year sales of $410.94 million for the current fiscal year, with estimates ranging from $1.41 billion to $1.42 billion. For the next year, analysts anticipate that the firm will post sales of $1.81 billion per share, with estimates ranging from $1.77 billion to $1.85 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Century Communities.
Century Communities (NYSE:CCS) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.01). The business had revenue of $287.60 million for the quarter, compared to the consensus estimate of $305.38 million. Century Communities had a net margin of 4.87% and a return on equity of 10.74%. Century Communities’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 earnings per share.
A number of research firms have recently weighed in on CCS. Citigroup Inc. reaffirmed a “buy” rating and set a $30.00 price objective on shares of Century Communities in a research report on Tuesday, August 8th. BidaskClub cut Century Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. J P Morgan Chase & Co raised Century Communities from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $28.00 to $32.00 in a research note on Thursday, September 14th. Wedbush restated an “outperform” rating on shares of Century Communities in a report on Saturday, September 16th. Finally, FBR & Co restated a “buy” rating and set a $30.00 price target on shares of Century Communities in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $30.40.
Shares of Century Communities (NYSE CCS) traded up 0.99% during trading on Wednesday, reaching $25.50. 269,785 shares of the company were exchanged. The firm has a 50-day moving average price of $23.46 and a 200-day moving average price of $25.05. The stock has a market capitalization of $573.72 million, a P/E ratio of 10.71 and a beta of 1.07. Century Communities has a 1-year low of $18.45 and a 1-year high of $28.05.
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A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc lifted 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 worth $110,000 after buying an additional 278 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Century Communities by 118.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,188 shares of the construction company’s stock valued at $131,000 after acquiring an additional 2,816 shares during the last quarter. Nordea Investment Management AB purchased a new position in shares of Century Communities in the 1st quarter valued at about $178,000. Trexquant Investment LP purchased a new position in shares of Century Communities in the 1st quarter valued at about $201,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Century Communities in the 2nd quarter valued at about $216,000. Institutional investors own 59.80% of the company’s stock.
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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