Century Communities (NYSE:CCS) Shares Pass Above Fifty Day Moving Average – What’s Next?

Century Communities, Inc. (NYSE:CCS)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $56.17 and traded as high as $61.52. Century Communities shares last traded at $60.1190, with a volume of 340,058 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on CCS. Zacks Research downgraded Century Communities from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Wall Street Zen downgraded Century Communities from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. JPMorgan Chase & Co. dropped their price target on Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a research note on Wednesday, April 29th. B. Riley Financial downgraded Century Communities from a “buy” rating to a “neutral” rating and lowered their target price for the company from $75.00 to $64.00 in a research report on Thursday, April 23rd. Finally, Weiss Ratings downgraded Century Communities from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Century Communities currently has a consensus rating of “Reduce” and an average target price of $67.00.

Century Communities Trading Down 0.9%

The stock has a market capitalization of $1.73 billion, a P/E ratio of 13.54 and a beta of 1.34. 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 50-day moving average price of $56.17 and a 200 day moving average price of $61.01.

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

Century Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 27th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, May 27th. Century Communities’s payout ratio is 28.83%.

Hedge Funds Weigh In On Century Communities

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCS. New South Capital Management Inc. grew its stake in Century Communities by 285.1% in the fourth quarter. New South Capital Management Inc. now owns 609,425 shares of the construction company’s stock valued at $36,169,000 after purchasing an additional 451,187 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in Century Communities by 32.2% in the second quarter. Balyasny Asset Management L.P. now owns 1,044,604 shares of the construction company’s stock valued at $58,832,000 after purchasing an additional 254,186 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Century Communities by 58.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 509,499 shares of the construction company’s stock valued at $30,239,000 after purchasing an additional 186,938 shares during the last quarter. Norges Bank purchased a new position in Century Communities in the fourth quarter valued at about $10,386,000. Finally, Wellington Management Group LLP grew its stake in Century Communities by 9.3% in the fourth quarter. Wellington Management Group LLP now owns 1,631,055 shares of the construction company’s stock valued at $96,803,000 after purchasing an additional 139,141 shares during the last quarter. Hedge funds and other institutional investors own 99.54% of the company’s stock.

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.