Century Communities (NYSE:CCS) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Century Communities (NYSE:CCS) from a hold rating to a strong sell rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Several other analysts have also weighed in on the company. B. Riley started coverage on Century Communities in a report on Monday, June 30th. They issued a “buy” rating and a $70.00 price objective for the company. Wall Street Zen raised Century Communities from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Century Communities presently has a consensus rating of “Hold” and an average target price of $85.00.

Century Communities Stock Up 0.4%

Shares of NYSE CCS opened at $65.91 on Thursday. Century Communities has a 1 year low of $50.42 and a 1 year high of $108.42. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 8.05 and a beta of 1.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.55 and a current ratio of 0.55. The stock’s 50-day simple moving average is $60.90 and its 200-day simple moving average is $61.07.

Century Communities (NYSE:CCS) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.21. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $910.70 million. Century Communities had a return on equity of 10.99% and a net margin of 6.03%.Century Communities’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.65 earnings per share. As a group, equities analysts anticipate that Century Communities will post 11.07 earnings per share for the current fiscal year.

Century Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, August 27th. Century Communities’s payout ratio is presently 14.16%.

Hedge Funds Weigh In On Century Communities

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its stake in Century Communities by 533.9% in the first quarter. Versant Capital Management Inc now owns 393 shares of the construction company’s stock valued at $26,000 after acquiring an additional 331 shares during the period. US Bancorp DE boosted its stake in Century Communities by 142.3% in the first quarter. US Bancorp DE now owns 395 shares of the construction company’s stock valued at $27,000 after acquiring an additional 232 shares during the period. Traub Capital Management LLC acquired a new position in Century Communities in the second quarter valued at approximately $39,000. EverSource Wealth Advisors LLC boosted its stake in Century Communities by 175.5% in the second quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company’s stock valued at $41,000 after acquiring an additional 465 shares during the period. Finally, Covestor Ltd boosted its stake in Century Communities by 104.5% in the first quarter. Covestor Ltd now owns 1,086 shares of the construction company’s stock valued at $73,000 after acquiring an additional 555 shares during the period. 99.54% of the stock is currently owned by institutional investors and hedge funds.

About Century Communities

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its homebuyers.