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

Century Communities, Inc. (NYSE:CCS) 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 trading hands.

Wall Street Analysts Forecast Growth

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

Century Communities Stock Down 3.3 %

The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 7.42 and a beta of 1.87. The stock has a 50-day simple moving average of $90.01 and a 200-day simple moving average of $91.83.

Century Communities (NYSE:CCS) last posted its quarterly 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. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Century Communities had a net margin of 7.44% and a return on equity of 13.79%. The firm’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.58 earnings per share. As a group, analysts predict 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 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, November 27th. Century Communities’s dividend payout ratio is currently 10.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC raised its position in shares of Century Communities by 11.2% in the second quarter. Signaturefd LLC now owns 1,138 shares of the construction company’s stock valued at $93,000 after purchasing an additional 115 shares during the period. Arizona State Retirement System lifted its holdings in shares of Century Communities by 1.9% during the second quarter. Arizona State Retirement System now owns 8,006 shares of the construction company’s stock worth $654,000 after purchasing an additional 147 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Century Communities by 6.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,831 shares of the construction company’s stock worth $231,000 after purchasing an additional 172 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Century Communities by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the construction company’s stock valued at $1,160,000 after purchasing an additional 200 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Century Communities by 7.8% during the third quarter. Park Avenue Securities LLC now owns 3,484 shares of the construction company’s stock worth $359,000 after acquiring an additional 253 shares in the last quarter. 99.54% of the stock is 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.