StockNews.com Begins Coverage on Century Communities (NYSE:CCS)

Posted by Joseph McCarthy on Mar 19th, 2023

StockNews.com assumed coverage on shares of Century Communities (NYSE:CCS – Get Rating) in a research report released on Thursday. The firm issued a hold rating on the construction company’s stock.

Several other research firms have also recently commented on CCS. B. Riley upped their price target on Century Communities from $49.00 to $56.00 and gave the stock a neutral rating in a research note on Thursday, February 2nd. BTIG Research began coverage on Century Communities in a research note on Tuesday, November 29th. They set a neutral rating for the company. Wedbush cut their price target on Century Communities from $75.00 to $70.00 and set an outperform rating for the company in a research note on Thursday, February 2nd. Finally, JPMorgan Chase & Co. cut Century Communities from an overweight rating to an underweight rating and upped their price target for the stock from $47.50 to $48.00 in a research note on Tuesday, November 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $56.50.

Century Communities Price Performance

Shares of NYSE CCS opened at $58.93 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47. Century Communities has a twelve month low of $39.00 and a twelve month high of $65.38. The stock has a 50 day moving average of $59.78 and a two-hundred day moving average of $51.47. The stock has a market cap of $1.87 billion, a P/E ratio of 3.71 and a beta of 1.73.

Century Communities (NYSE:CCS – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The construction company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.39 by $0.32. Century Communities had a return on equity of 26.64% and a net margin of 11.65%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the business earned $4.78 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts forecast that Century Communities will post 6.25 earnings per share for the current year.

Century Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were given a $0.23 dividend. This is a boost from Century Communities’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, February 28th. This represents a $0.92 annualized dividend and a yield of 1.56%. Century Communities’s dividend payout ratio is presently 5.79%.

Insiders Place Their Bets

In other Century Communities news, CEO Robert J. Francescon sold 25,000 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $64.05, for a total value of $1,601,250.00. Following the completion of the transaction, the chief executive officer now owns 549,561 shares in the company, valued at $35,199,382.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 11.90% of the stock is currently owned by company insiders.

Institutional Trading of Century Communities

Several large investors have recently bought and sold shares of the company. State of Wyoming grew its holdings in Century Communities by 8.6% in the fourth quarter. State of Wyoming now owns 2,596 shares of the construction company’s stock valued at $130,000 after purchasing an additional 206 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in Century Communities by 1.6% in the fourth quarter. SummerHaven Investment Management LLC now owns 15,725 shares of the construction company’s stock valued at $786,000 after purchasing an additional 242 shares during the last quarter. Corton Capital Inc. grew its holdings in Century Communities by 4.9% in the second quarter. Corton Capital Inc. now owns 5,158 shares of the construction company’s stock valued at $232,000 after purchasing an additional 243 shares during the last quarter. Biltmore Wealth Management LLC acquired a new stake in Century Communities in the fourth quarter valued at $461,966,000. Finally, Belpointe Asset Management LLC grew its holdings in Century Communities by 3.0% in the third quarter. Belpointe Asset Management LLC now owns 11,817 shares of the construction company’s stock valued at $506,000 after purchasing an additional 341 shares during the last quarter. Institutional investors and hedge funds own 88.86% of the company’s stock.

Century Communities Company Profile

(Get Rating)

Century Communities, Inc engages in the development, design, construction, marketing and sale of single-family attached and detached homes. It operates through the following segments: West, Mountain, Texas, Southeast, Century Complete, and Financial Services. The West segment refers to projects in California and Washington.