Century Communities (NYSE:CCS) Releases Earnings Results, Beats Expectations By $0.27 EPS

Century Communities (NYSE:CCS) released its quarterly earnings data on Wednesday. The construction company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.61 by $0.27, FiscalAI reports. Century Communities had a net margin of 3.58% and a return on equity of 6.87%. The company had revenue of $789.67 million during the quarter, compared to the consensus estimate of $961.12 million. During the same period last year, the firm earned $1.36 EPS. Century Communities’s revenue for the quarter was down 16.9% on a year-over-year basis.

Century Communities Stock Performance

Century Communities stock traded down $0.19 during midday trading on Wednesday, reaching $63.62. 202,239 shares of the company traded hands, compared to its average volume of 271,233. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 1.08. Century Communities has a 12 month low of $50.42 and a 12 month high of $76.00. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 13.09 and a beta of 1.56. The business has a 50 day moving average of $62.15 and a two-hundred day moving average of $62.31.

Century Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Century Communities’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. Century Communities’s dividend payout ratio is presently 26.34%.

Analysts Set New Price Targets

Several research analysts have recently commented on CCS shares. Citizens Jmp started coverage on Century Communities in a report on Wednesday, January 21st. They set a “market outperform” rating and a $92.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on shares of Century Communities from $56.00 to $49.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. B. Riley Financial reaffirmed a “buy” rating on shares of Century Communities in a research report on Thursday, January 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Century Communities in a report on Wednesday, January 21st. Finally, Citigroup initiated coverage on shares of Century Communities in a report on Wednesday, January 21st. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.75.

Insiders Place Their Bets

In other Century Communities news, Chairman Dale Francescon sold 100,100 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $72.44, for a total value of $7,251,244.00. Following the transaction, the chairman directly owned 561,662 shares of the company’s stock, valued at approximately $40,686,795.28. This trade represents a 15.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Century Communities

A number of institutional investors have recently bought and sold shares of CCS. Lazard Asset Management LLC grew its position in shares of Century Communities by 7.8% during the second quarter. Lazard Asset Management LLC now owns 2,405 shares of the construction company’s stock worth $134,000 after purchasing an additional 173 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Century Communities by 1.4% in the third quarter. Quadrant Capital Group LLC now owns 12,515 shares of the construction company’s stock worth $793,000 after purchasing an additional 173 shares during the last quarter. Parallel Advisors LLC boosted its stake in Century Communities by 207.6% during the fourth quarter. Parallel Advisors LLC now owns 609 shares of the construction company’s stock valued at $36,000 after buying an additional 411 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Century Communities by 175.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company’s stock valued at $41,000 after buying an additional 465 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in Century Communities by 12.0% in the 4th quarter. Captrust Financial Advisors now owns 4,658 shares of the construction company’s stock worth $276,000 after acquiring an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 99.54% of the company’s stock.

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.