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

Century Communities, Inc. (NYSE:CCS)’s stock price gapped down prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CCS. JPMorgan Chase & Co. upgraded shares of Century Communities from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $110.00 to $97.00 in a research report on Friday, December 13th. B. Riley restated a “buy” rating and issued a $119.00 price target (up previously from $113.00) on shares of Century Communities in a report on Thursday, October 24th. StockNews.com downgraded Century Communities from a “hold” rating to a “sell” rating in a report on Thursday, December 5th. Finally, Wedbush lifted their target price on Century Communities from $90.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th.

Century Communities Trading Down 3.3 %

The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 7.42 and a beta of 1.87. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $90.01 and its 200 day moving average is $91.83.

Century Communities (NYSE:CCS) last released its earnings results on Wednesday, October 23rd. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.16. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Century Communities had a return on equity of 13.79% and a net margin of 7.44%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 earnings per share. Equities analysts forecast that Century Communities, Inc. will post 10.95 earnings per share for the current year.

Century Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 27th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, November 27th. Century Communities’s dividend payout ratio (DPR) is presently 10.37%.

Institutional Investors Weigh In On Century Communities

Hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its position in Century Communities by 444.7% during the third quarter. Assenagon Asset Management S.A. now owns 362,227 shares of the construction company’s stock worth $37,302,000 after acquiring an additional 295,729 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Century Communities in the 2nd quarter valued at about $7,419,000. Westwood Holdings Group Inc. lifted its stake in Century Communities by 11.2% in the second quarter. Westwood Holdings Group Inc. now owns 883,197 shares of the construction company’s stock valued at $72,122,000 after buying an additional 89,310 shares during the period. Marshall Wace LLP boosted its position in shares of Century Communities by 84.9% during the second quarter. Marshall Wace LLP now owns 143,771 shares of the construction company’s stock valued at $11,740,000 after buying an additional 66,029 shares during the last quarter. Finally, Algert Global LLC lifted its position in shares of Century Communities by 86.9% during the 2nd quarter. Algert Global LLC now owns 123,307 shares of the construction company’s stock valued at $10,069,000 after buying an additional 57,341 shares during the last quarter. Institutional investors own 99.54% of the company’s stock.

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.