Century Communities (NYSE:CCS) Trading Up 9.1% – Here’s Why

Century Communities, Inc. (NYSE:CCS)’s share price shot up 9.1% during mid-day trading on Wednesday . The company traded as high as $68.60 and last traded at $68.5120. 24,224 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 300,911 shares. The stock had previously closed at $62.78.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CCS shares. JPMorgan Chase & Co. dropped their target price on shares of Century Communities from $49.00 to $45.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 29th. Weiss Ratings cut Century Communities from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Zacks Research upgraded Century Communities from a “strong sell” rating to a “hold” rating in a report on Monday. B. Riley Financial lowered Century Communities from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $75.00 to $64.00 in a research note on Thursday, April 23rd. Finally, Wall Street Zen upgraded Century Communities from a “sell” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.00.

Century Communities Stock Up 12.0%

The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 15.83 and a beta of 1.34. The firm’s fifty day simple moving average is $56.66 and its two-hundred day simple moving average is $60.85.

Century Communities (NYSE:CCS) last posted its earnings results on Wednesday, April 22nd. The construction company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.27. The company had revenue of $789.67 million for the quarter, compared to the consensus estimate of $961.12 million. Century Communities had a return on equity of 6.24% and a net margin of 3.31%.The company’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. Sell-side analysts anticipate that Century Communities, Inc. will post 3.84 EPS for the current year.

Century Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 27th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend 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 28.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Century Communities by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 1,978,050 shares of the construction company’s stock worth $117,397,000 after acquiring an additional 72,920 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of 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 valued at $14,300,000 after purchasing an additional 22,450 shares in the last quarter. Penn Capital Management Company LLC acquired a new stake in shares of Century Communities in the 3rd quarter valued at $1,647,000. Pier Capital LLC lifted its position in shares of Century Communities by 56.7% during the 3rd quarter. Pier Capital LLC now owns 153,224 shares of the construction company’s stock worth $9,710,000 after purchasing an additional 55,415 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Century Communities by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 338,699 shares of the construction company’s stock worth $21,463,000 after purchasing an additional 71,688 shares during the last quarter. 99.54% of the stock is currently owned by hedge funds and other institutional investors.

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.