Century Communities, Inc. to Post Q2 2024 Earnings of $2.36 Per Share, Wedbush Forecasts (NYSE:CCS)

Century Communities, Inc. (NYSE:CCS) – Analysts at Wedbush lifted their Q2 2024 earnings per share estimates for Century Communities in a report released on Thursday, April 25th. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings per share of $2.36 for the quarter, up from their prior estimate of $2.24. Wedbush currently has a “Underperform” rating and a $82.00 target price on the stock. The consensus estimate for Century Communities’ current full-year earnings is $10.06 per share. Wedbush also issued estimates for Century Communities’ Q4 2024 earnings at $3.34 EPS, Q2 2025 earnings at $2.57 EPS and FY2025 earnings at $11.27 EPS.

Separately, B. Riley boosted their price target on Century Communities from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 1st.

Century Communities Stock Down 4.6 %

CCS opened at $78.37 on Friday. The company has a market capitalization of $2.49 billion, a P/E ratio of 8.70 and a beta of 1.71. The stock has a fifty day moving average of $86.54 and a 200-day moving average of $80.91. Century Communities has a fifty-two week low of $58.01 and a fifty-two week high of $97.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.46 and a current ratio of 1.46.

Century Communities (NYSE:CCS) last posted its earnings results on Wednesday, April 24th. The construction company reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.67. Century Communities had a return on equity of 13.06% and a net margin of 7.47%. The company had revenue of $948.54 million during the quarter, compared to the consensus estimate of $791.67 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Century Communities by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,616,401 shares of the construction company’s stock valued at $238,460,000 after acquiring an additional 17,842 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Century Communities by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,020,013 shares of the construction company’s stock worth $184,104,000 after purchasing an additional 29,989 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Century Communities by 17.3% during the third quarter. Jennison Associates LLC now owns 1,114,466 shares of the construction company’s stock worth $74,424,000 after purchasing an additional 164,478 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Century Communities by 21.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,036,025 shares of the construction company’s stock worth $94,423,000 after purchasing an additional 180,095 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Century Communities by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 434,550 shares of the construction company’s stock worth $39,605,000 after purchasing an additional 8,214 shares during the last quarter. Institutional investors own 99.54% of the company’s stock.

Century Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 28th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Tuesday, February 27th. This is a boost from Century Communities’s previous quarterly dividend of $0.23. Century Communities’s payout ratio is currently 11.54%.

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.