Century Communities (NYSE:CCS) Shares Gap Down – What’s Next?

Century Communities, Inc. (NYSE:CCS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $76.94, but opened at $75.17. Century Communities shares last traded at $75.28, with a volume of 37,228 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CCS shares. JPMorgan Chase & Co. raised Century Communities from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $110.00 to $97.00 in a report on Friday, December 13th. Wedbush increased their price target on shares of Century Communities from $90.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of Century Communities from a “hold” rating to a “sell” rating in a research note on Thursday, December 5th. Finally, B. Riley reiterated a “buy” rating and issued a $119.00 target price (up from $113.00) on shares of Century Communities in a research note on Thursday, October 24th.

Century Communities Stock Up 1.1 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a fifty day simple moving average of $89.17 and a 200-day simple moving average of $91.65. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 7.55 and a beta of 1.87.

Century Communities (NYSE:CCS) last posted its earnings results on Wednesday, October 23rd. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.16. Century Communities had a net margin of 7.44% and a return on equity of 13.79%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Century Communities’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.58 EPS. As a group, sell-side analysts expect that Century Communities, Inc. will post 10.95 EPS for the current year.

Century Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 27th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Wednesday, November 27th. Century Communities’s dividend payout ratio (DPR) is 10.37%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CCS. Ausbil Investment Management Ltd acquired a new position in Century Communities in the third quarter valued at about $618,000. Seven Eight Capital LP acquired a new position in shares of Century Communities in the 2nd quarter valued at approximately $624,000. Quest Partners LLC raised its position in shares of Century Communities by 314.1% in the 3rd quarter. Quest Partners LLC now owns 14,274 shares of the construction company’s stock valued at $1,470,000 after buying an additional 10,827 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Century Communities by 15.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 41,733 shares of the construction company’s stock worth $3,408,000 after acquiring an additional 5,733 shares in the last quarter. Finally, Pier Capital LLC boosted its position in shares of Century Communities by 33.0% during the 2nd quarter. Pier Capital LLC now owns 99,171 shares of the construction company’s stock worth $8,098,000 after acquiring an additional 24,630 shares in the last quarter. 99.54% of the stock is owned by institutional investors.

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.