Century Communities (NYSE:CCS) Shares Down 4.6% – Here’s Why

Century Communities, Inc. (NYSE:CCS) was down 4.6% on Friday . The stock traded as low as $61.31 and last traded at $63.1010. Approximately 3,354 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 400,597 shares. The stock had previously closed at $66.14.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CCS. Weiss Ratings restated a “hold (c)” rating on shares of Century Communities in a report on Wednesday, October 8th. Wall Street Zen raised shares of Century Communities from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $56.00 price target on shares of Century Communities in a report on Thursday. Finally, Zacks Research raised shares of Century Communities from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.33.

Century Communities Price Performance

The firm has a market capitalization of $1.83 billion, a PE ratio of 9.08 and a beta of 1.53. The firm’s fifty day moving average price is $61.08 and its 200 day moving average price is $60.46. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.45.

Century Communities (NYSE:CCS) last posted its earnings results on Wednesday, October 22nd. The construction company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.66. Century Communities had a net margin of 5.16% and a return on equity of 9.36%. The company had revenue of $980.28 million during the quarter, compared to the consensus estimate of $906.10 million. During the same period in the previous year, the firm posted $2.77 earnings per share. The firm’s quarterly revenue was down 13.8% on a year-over-year basis. As a group, equities analysts forecast that Century Communities, Inc. will post 11.07 earnings per share for the current year.

Century Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be paid a $0.29 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.9%. Century Communities’s dividend payout ratio is presently 16.93%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Penserra Capital Management LLC raised its position in shares of Century Communities by 34.9% during the 2nd quarter. Penserra Capital Management LLC now owns 4,565 shares of the construction company’s stock worth $257,000 after purchasing an additional 1,180 shares during the last quarter. American Century Companies Inc. lifted its holdings in Century Communities by 9.6% in the 1st quarter. American Century Companies Inc. now owns 63,659 shares of the construction company’s stock valued at $4,272,000 after purchasing an additional 5,600 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Century Communities during the 2nd quarter worth $582,000. Jump Financial LLC lifted its stake in shares of Century Communities by 109.7% in the first quarter. Jump Financial LLC now owns 14,188 shares of the construction company’s stock worth $952,000 after buying an additional 7,421 shares in the last quarter. Finally, Creative Planning boosted its position in Century Communities by 117.2% during the second quarter. Creative Planning now owns 37,891 shares of the construction company’s stock worth $2,134,000 after acquiring an additional 20,447 shares during the last quarter. 99.54% of the stock is owned by institutional investors and hedge funds.

Century Communities Company Profile

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.