Century Communities (NYSE:CCS) Releases Earnings Results, Beats Estimates By $0.20 EPS

Century Communities (NYSE:CCS) issued its quarterly earnings results on Wednesday. The construction company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.20, FiscalAI reports. Century Communities had a return on equity of 9.36% and a net margin of 5.16%.

Century Communities Stock Performance

CCS traded up $0.44 on Wednesday, hitting $63.89. The company had a trading volume of 327,826 shares, compared to its average volume of 285,874. Century Communities has a 1-year low of $50.42 and a 1-year high of $80.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.54. The company’s fifty day moving average price is $62.76 and its 200 day moving average price is $62.48. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 9.33 and a beta of 1.56.

Century Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, November 26th. Century Communities’s dividend payout ratio (DPR) is presently 16.93%.

Institutional Investors Weigh In On Century Communities

Hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. boosted its stake in Century Communities by 32.2% during the 2nd 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 period. Squarepoint Ops LLC boosted its position in shares of Century Communities by 70.6% in the third quarter. Squarepoint Ops LLC now owns 242,494 shares of the construction company’s stock valued at $15,367,000 after acquiring an additional 100,313 shares during the period. AQR Capital Management LLC lifted its stake in shares of Century Communities by 139.1% in the second quarter. AQR Capital Management LLC now owns 171,721 shares of the construction company’s stock valued at $9,671,000 after buying an additional 99,890 shares during the period. Qube Research & Technologies Ltd raised its holdings in Century Communities by 230.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 118,468 shares of the construction company’s stock valued at $6,672,000 after acquiring an additional 82,606 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Century Communities by 75.7% during the 3rd quarter. Bank of America Corp DE now owns 175,467 shares of the construction company’s stock worth $11,119,000 after purchasing an additional 75,607 shares in the last quarter. 99.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CCS has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Century Communities in a report on Wednesday, January 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $56.00 target price on shares of Century Communities in a research note on Thursday, December 4th. Citizens Jmp initiated coverage on shares of Century Communities in a report on Wednesday, January 21st. They set a “market outperform” rating and a $92.00 price target for the company. Finally, Citigroup initiated coverage on shares of Century Communities in a research note on Wednesday, January 21st. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $76.50.

Century Communities Company Profile

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.