Century Communities (NYSE:CCS) Shares Cross Below 50 Day Moving Average on Analyst Downgrade

Century Communities, Inc. (NYSE:CCS)’s stock price passed below its 50-day moving average during trading on Monday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock has a 50-day moving average of $66.83 and traded as low as $60.60. Century Communities shares last traded at $61.69, with a volume of 186,778 shares changing hands.

A number of other research firms also recently issued reports on CCS. Wall Street Zen raised shares of Century Communities from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings upgraded shares of Century Communities from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 24th. Finally, Zelman & Associates lowered shares of Century Communities from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.00.

Institutional Investors Weigh In On Century Communities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nykredit A S bought a new stake in shares of Century Communities in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. bought a new position in Century Communities in the 1st quarter worth approximately $81,000. State of Wyoming bought a new position in Century Communities in the 2nd quarter worth approximately $82,000. Integrated Wealth Concepts LLC bought a new position in Century Communities in the 2nd quarter worth approximately $83,000. Finally, Axiom Investment Management LLC purchased a new position in Century Communities in the 1st quarter valued at approximately $287,000. 99.54% of the stock is currently owned by institutional investors.

Century Communities Price Performance

The business’s 50 day moving average is $66.70 and its two-hundred day moving average is $61.68. 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 firm has a market capitalization of $1.74 billion, a PE ratio of 13.42 and a beta of 1.30.

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

Century Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, August 26th. Century Communities’s payout ratio is 28.07%.

About Century Communities

Century Communities, Inc is a homebuilding company headquartered in Denver, Colorado. Founded in 2002, the company develops and constructs single-family homes and townhomes for first-time, move-up and active-adult buyers.

The company markets homes under the Century Communities and Century Complete brands. Century Communities generally offers homes through its traditional sales model, while Century Complete focuses on streamlined, value-oriented homebuying, including online purchasing in select communities.