WCI Communities Inc. (WCIC) Coverage Initiated at Wedbush
Stock analysts at Wedbush assumed coverage on shares of WCI Communities Inc. (NYSE:WCIC) in a research report issued to clients and investors on Monday. The brokerage set a “neutral” rating and a $21.00 price target on the stock. Wedbush’s price objective indicates a potential upside of 19.66% from the stock’s previous close.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered WCI Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, August 2nd. Credit Suisse Group AG reaffirmed a “buy” rating on shares of WCI Communities in a research report on Tuesday, July 12th. TheStreet raised WCI Communities from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. Finally, JMP Securities started coverage on WCI Communities in a research report on Wednesday, August 31st. They set an “outperform” rating and a $18.77 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $21.68.
WCI Communities (NYSE:WCIC) opened at 17.55 on Monday. The firm has a market cap of $462.23 million, a price-to-earnings ratio of 13.01 and a beta of 1.51. WCI Communities has a 52 week low of $15.41 and a 52 week high of $25.00. The company has a 50-day moving average of $17.82 and a 200-day moving average of $17.55.
WCI Communities (NYSE:WCIC) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $167.40 million for the quarter, compared to analyst estimates of $156.99 million. WCI Communities had a return on equity of 7.55% and a net margin of 5.80%. WCI Communities’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. Equities research analysts forecast that WCI Communities will post $1.35 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in WCI Communities by 584.8% in the second quarter. BlackRock Inc. now owns 6,759 shares of the company’s stock valued at $115,000 after buying an additional 5,772 shares during the period. BlackRock Advisors LLC raised its position in WCI Communities by 24.8% in the second quarter. BlackRock Advisors LLC now owns 10,658 shares of the company’s stock valued at $180,000 after buying an additional 2,116 shares during the period. American International Group Inc. raised its position in WCI Communities by 33.5% in the second quarter. American International Group Inc. now owns 12,468 shares of the company’s stock valued at $211,000 after buying an additional 3,126 shares during the period. Emerald Acquisition Ltd. purchased a new position in WCI Communities during the second quarter valued at approximately $224,000. Finally, Metropolitan Life Insurance Co. NY raised its position in WCI Communities by 48.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 15,960 shares of the company’s stock valued at $270,000 after buying an additional 5,227 shares during the period. 96.55% of the stock is currently owned by institutional investors.
WCI Communities Company Profile
WCI Communities, Inc is a holding company. The Company is a lifestyle community developer and luxury homebuilder of single- and multi-family homes, including luxury high-rise tower units, in coastal Florida’s markets. The Company’s segments include Homebuilding, Real Estate Services and Amenities. The Homebuilding segment designs, sells and builds single- and multi-family homes and tower units.
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