Century Communities (NYSE:CCS) Hits New 12-Month Low Following Weak Earnings

Shares of Century Communities, Inc. (NYSE:CCS) reached a new 52-week low on Thursday following a weaker than expected earnings announcement. The stock traded as low as $54.03 and last traded at $55.40, with a volume of 226518 shares trading hands. The stock had previously closed at $60.07.

The construction company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.38). Century Communities had a net margin of 7.59% and a return on equity of 14.17%. The company had revenue of $903.23 million during the quarter, compared to analyst estimates of $914.20 million.

Century Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were paid a $0.29 dividend. This is a positive change from Century Communities’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, February 26th. This represents a $1.16 annualized dividend and a yield of 2.08%. Century Communities’s dividend payout ratio is currently 11.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CCS shares. Zelman & Associates raised shares of Century Communities to a “hold” rating in a research report on Friday, January 31st. Wedbush lowered their price target on shares of Century Communities from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $101.33.

Institutional Trading of Century Communities

A number of institutional investors and hedge funds have recently bought and sold shares of CCS. JPMorgan Chase & Co. boosted its position in Century Communities by 5.3% during the third quarter. JPMorgan Chase & Co. now owns 206,798 shares of the construction company’s stock valued at $21,296,000 after acquiring an additional 10,453 shares during the last quarter. Invesco Ltd. boosted its position in shares of Century Communities by 27.9% during the 4th quarter. Invesco Ltd. now owns 236,201 shares of the construction company’s stock valued at $17,328,000 after purchasing an additional 51,589 shares in the last quarter. Principal Financial Group Inc. grew its stake in Century Communities by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 133,860 shares of the construction company’s stock worth $9,820,000 after purchasing an additional 3,747 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Century Communities by 6.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,526 shares of the construction company’s stock valued at $38,699,000 after purchasing an additional 34,046 shares during the period. Finally, Edgestream Partners L.P. lifted its holdings in shares of Century Communities by 257.7% in the 4th quarter. Edgestream Partners L.P. now owns 64,509 shares of the construction company’s stock worth $4,732,000 after purchasing an additional 46,477 shares in the last quarter. 99.54% of the stock is currently owned by institutional investors and hedge funds.

Century Communities Trading Down 0.9 %

The company has a market capitalization of $1.71 billion, a P/E ratio of 5.36 and a beta of 1.76. The firm’s 50-day moving average price is $66.03 and its 200 day moving average price is $77.09. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.42.

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.