Century Communities (NYSE:CCS) Posts Quarterly Earnings Results, Beats Expectations By $0.32 EPS

Century Communities (NYSE:CCS – Get Rating) announced its quarterly earnings results on Wednesday. The construction company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.39 by $0.32, Briefing.com reports. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1 billion. Century Communities had a return on equity of 32.06% and a net margin of 13.47%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.78 EPS.

Century Communities Stock Performance

Shares of NYSE CCS traded down $1.38 during trading hours on Thursday, reaching $61.90. The stock had a trading volume of 296,901 shares, compared to its average volume of 273,695. The business’s fifty day moving average is $53.79 and its two-hundred day moving average is $49.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 3.48 and a beta of 1.74. Century Communities has a twelve month low of $39.00 and a twelve month high of $68.56.

Century Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 14th. Investors of record on Wednesday, November 30th were paid a $0.20 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Century Communities’s payout ratio is 4.40%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CCS. B. Riley boosted their price target on Century Communities from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday. Wedbush decreased their target price on Century Communities from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut Century Communities from an “overweight” rating to an “underweight” rating and upped their target price for the stock from $47.50 to $48.00 in a research report on Tuesday, November 22nd. BTIG Research began coverage on Century Communities in a research report on Tuesday, November 29th. They set a “neutral” rating for the company. Finally, StockNews.com initiated coverage on Century Communities in a research report on Wednesday, October 12th. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Century Communities presently has a consensus rating of “Hold” and a consensus target price of $56.50.

Insider Activity at Century Communities

In related news, CFO John Scott Dixon sold 3,558 shares of the company’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $53.38, for a total value of $189,926.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Century Communities

Large investors have recently made changes to their positions in the business. Alpha Paradigm Partners LLC bought a new stake in shares of Century Communities during the third quarter worth $120,000. Point72 Hong Kong Ltd grew its holdings in shares of Century Communities by 125.4% during the first quarter. Point72 Hong Kong Ltd now owns 2,527 shares of the construction company’s stock worth $135,000 after purchasing an additional 1,406 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Century Communities by 62.6% during the second quarter. Captrust Financial Advisors now owns 4,446 shares of the construction company’s stock worth $200,000 after purchasing an additional 1,711 shares during the last quarter. Engineers Gate Manager LP bought a new position in Century Communities in the first quarter valued at about $228,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Century Communities in the third quarter valued at about $446,000. Institutional investors own 88.86% of the company’s stock.

Century Communities Company Profile

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Century Communities, Inc engages in the development, design, construction, marketing and sale of single-family attached and detached homes. It operates through the following segments: West, Mountain, Texas, Southeast, Century Complete, and Financial Services. The West segment refers to projects in California and Washington.