Equities analysts expect that Century Communities, Inc. (NYSE:CCS) will report sales of $1.09 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Century Communities’ earnings, with the lowest sales estimate coming in at $1.08 billion and the highest estimate coming in at $1.10 billion. Century Communities reported sales of $794.36 million during the same quarter last year, which would suggest a positive year over year growth rate of 37.2%. The firm is scheduled to report its next earnings results on Wednesday, October 27th.
According to Zacks, analysts expect that Century Communities will report full year sales of $4.29 billion for the current year, with estimates ranging from $4.21 billion to $4.38 billion. For the next fiscal year, analysts expect that the firm will report sales of $4.76 billion, with estimates ranging from $4.55 billion to $4.96 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Century Communities.
Century Communities (NYSE:CCS) last issued its earnings results on Wednesday, July 28th. The construction company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.65. Century Communities had a return on equity of 27.19% and a net margin of 9.42%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion.
One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $80.50.
In related news, CEO Robert J. Francescon sold 90,000 shares of the company’s stock in a transaction dated Wednesday, August 11th. The shares were sold at an average price of $72.08, for a total transaction of $6,487,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in shares of Century Communities by 505.3% during the second quarter. Goldman Sachs Group Inc. now owns 755,112 shares of the construction company’s stock worth $50,245,000 after acquiring an additional 630,372 shares during the last quarter. Jennison Associates LLC acquired a new position in Century Communities during the first quarter valued at approximately $35,717,000. Lord Abbett & CO. LLC bought a new stake in shares of Century Communities in the second quarter valued at approximately $36,952,000. State Street Corp lifted its position in Century Communities by 21.0% in the second quarter. State Street Corp now owns 1,384,895 shares of the construction company’s stock worth $92,151,000 after purchasing an additional 240,254 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Century Communities by 2,164.3% during the first quarter. Bank of Montreal Can now owns 222,652 shares of the construction company’s stock valued at $14,219,000 after acquiring an additional 212,819 shares during the period. Institutional investors and hedge funds own 85.55% of the company’s stock.
Shares of NYSE CCS traded down $0.45 during midday trading on Friday, reaching $64.93. 7,266 shares of the company traded hands, compared to its average volume of 496,305. Century Communities has a 12 month low of $36.84 and a 12 month high of $83.20. The firm has a market cap of $2.19 billion, a PE ratio of 6.13 and a beta of 1.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.10 and a current ratio of 2.10. The stock’s 50-day simple moving average is $66.94 and its 200-day simple moving average is $67.47.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, August 31st. Century Communities’s dividend payout ratio is currently 9.65%.
About Century Communities
Century Communities, Inc engages in the development, design, construction, marketing and sale of single-family attached and detached homes. It operates through the following business segments: West, Mountain, Texas, Southeast, and Wade Journey Homes. The West segment refers to Southern California, Central Valley, Bay Area and Washington.
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