Century Communities (NYSE:CCS) Trading 9.6% Higher Following Better-Than-Expected Earnings

Century Communities, Inc. (NYSE:CCS)’s stock price shot up 9.6% on Thursday following a better than expected earnings announcement. The stock traded as high as $72.34 and last traded at $70.7120. Approximately 84,644 shares traded hands during trading, a decline of 72% from the average session volume of 302,584 shares. The stock had previously closed at $64.53.

The construction company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.67. The business had revenue of $927.23 million during the quarter, compared to analysts’ expectations of $857.23 million. Century Communities had a return on equity of 6.06% and a net margin of 3.41%.The business’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the business posted $1.37 earnings per share.

Century Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 27th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, May 27th. Century Communities’s dividend payout ratio is presently 28.07%.

Analysts Set New Price Targets

CCS has been the subject of a number of research reports. Zelman & Associates cut shares of Century Communities from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. dropped their price objective on shares of Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings upgraded Century Communities from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Zacks Research raised Century Communities from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, B. Riley Financial lowered Century Communities from a “buy” rating to a “neutral” rating and reduced their target price for the company from $75.00 to $64.00 in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Century Communities by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 1,978,050 shares of the construction company’s stock valued at $117,397,000 after buying an additional 72,920 shares during the period. First Eagle Investment Management LLC grew its stake in Century Communities by 10.3% in the 4th quarter. First Eagle Investment Management LLC now owns 240,940 shares of the construction company’s stock worth $14,300,000 after acquiring an additional 22,450 shares during the period. Jennison Associates LLC raised its holdings in Century Communities by 4.9% in the 1st quarter. Jennison Associates LLC now owns 349,512 shares of the construction company’s stock valued at $20,055,000 after acquiring an additional 16,467 shares during the last quarter. Aristeia Capital L.L.C. acquired a new position in Century Communities in the 4th quarter valued at $1,016,000. Finally, SG Americas Securities LLC raised its holdings in Century Communities by 311.2% in the 1st quarter. SG Americas Securities LLC now owns 41,732 shares of the construction company’s stock valued at $2,395,000 after acquiring an additional 31,582 shares during the last quarter. 99.54% of the stock is currently owned by hedge funds and other institutional investors.

Century Communities Trading Up 0.5%

The company has a market cap of $2.00 billion, a PE ratio of 15.27 and a beta of 1.29. The business has a 50 day simple moving average of $61.35 and a two-hundred day simple moving average of $61.94. The company has a current ratio of 0.56, a quick ratio of 0.57 and a debt-to-equity ratio of 0.44.

About Century Communities

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.