Century Communities (NYSE:CCS) Earns “Underperform” Rating from Wedbush

Wedbush reaffirmed their underperform rating on shares of Century Communities (NYSE:CCS) in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage currently has a $82.00 price objective on the construction company’s stock. Wedbush also issued estimates for Century Communities’ Q2 2024 earnings at $2.36 EPS, Q4 2024 earnings at $3.34 EPS, Q2 2025 earnings at $2.57 EPS and FY2025 earnings at $11.27 EPS.

Separately, B. Riley upped their price target on shares of Century Communities from $100.00 to $110.00 and gave the stock a buy rating in a research report on Thursday, February 1st.

Century Communities Stock Up 0.6 %

Shares of NYSE CCS opened at $78.82 on Thursday. The firm’s 50-day simple moving average is $86.39 and its 200 day simple moving average is $81.14. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 8.75 and a beta of 1.71. The company has a quick ratio of 1.46, a current ratio of 1.20 and a debt-to-equity ratio of 0.44. Century Communities has a 12-month low of $58.01 and a 12-month high of $97.92.

Century Communities (NYSE:CCS) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.67. The business had revenue of $948.54 million for the quarter, compared to the consensus estimate of $791.67 million. Century Communities had a net margin of 7.47% and a return on equity of 12.90%. On average, research analysts expect that Century Communities will post 10.11 earnings per share for the current fiscal year.

Century Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, February 27th. This is an increase from Century Communities’s previous quarterly dividend of $0.23. This represents a $1.04 dividend on an annualized basis and a yield of 1.32%. Century Communities’s dividend payout ratio is presently 11.54%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System bought a new stake in shares of Century Communities in the 4th quarter valued at about $1,285,000. American Century Companies Inc. increased its stake in shares of Century Communities by 33.1% in the 3rd quarter. American Century Companies Inc. now owns 394,305 shares of the construction company’s stock valued at $26,332,000 after acquiring an additional 97,953 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Century Communities by 19.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 74,160 shares of the construction company’s stock valued at $4,952,000 after acquiring an additional 12,024 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Century Communities in the 4th quarter valued at about $1,051,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of Century Communities by 283.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 32,119 shares of the construction company’s stock valued at $2,145,000 after acquiring an additional 23,742 shares during the last quarter. 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.