Century Communities (NYSE:CCS) Shares Gap Down – What’s Next?

Century Communities, Inc. (NYSE:CCS) shares gapped down prior to trading on Tuesday. The stock had previously closed at $59.87, but opened at $58.25. Century Communities shares last traded at $58.7140, with a volume of 6,971 shares changing hands.

Analysts Set New Price Targets

CCS has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Century Communities from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings upgraded shares of Century Communities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 24th. Zelman & Associates cut shares of Century Communities from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 7th. Finally, Zacks Research downgraded shares of Century Communities from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.00.

Century Communities Trading Up 2.3%

The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 13.02 and a beta of 1.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.56 and a current ratio of 0.56. The company has a 50-day moving average price of $65.71 and a 200-day moving average price of $61.77.

Century Communities (NYSE:CCS) last posted its earnings results on Wednesday, July 22nd. The construction company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.67. The firm had revenue of $927.23 million during the quarter, compared to analysts’ expectations of $857.23 million. Century Communities had a return on equity of 6.06% and a net margin of 3.41%.The firm’s revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 earnings per share. As a group, research analysts forecast that Century Communities, Inc. will post 4.86 EPS for the current fiscal year.

Century Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were issued a $0.32 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $1.28 annualized dividend and a dividend yield of 2.2%. Century Communities’s dividend payout ratio is presently 28.07%.

Institutional Investors Weigh In On Century Communities

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nykredit A S purchased a new stake in Century Communities in the second quarter valued at $26,000. Versant Capital Management Inc grew its holdings in shares of Century Communities by 56.3% during the third quarter. Versant Capital Management Inc now owns 644 shares of the construction company’s stock worth $39,000 after purchasing an additional 232 shares during the last quarter. State of Wyoming acquired a new stake in shares of Century Communities during the second quarter worth about $82,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Century Communities during the second quarter worth about $83,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Century Communities in the 1st quarter valued at about $81,000. 99.54% of the stock is currently owned by institutional investors and hedge funds.

Century Communities Company Profile

Century Communities, Inc is a residential homebuilder that designs, constructs, and sells single-family homes and townhomes. The company serves a range of buyers, including first-time homeowners, move-up buyers, and purchasers seeking more affordable housing options.

Century Communities markets homes under the Century Communities and Century Complete brands. Its activities generally include land acquisition and development, community planning, home construction, sales, and customer support.