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

by · The Cerbat Gem

Century Communities, Inc. (NYSE:CCS – Get Free Report)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $66.14, but opened at $63.44. Century Communities shares last traded at $63.7590, with a volume of 60,496 shares.

Wall Street Analyst Weigh In

CCS has been the topic of a number of analyst reports. Wall Street Zen upgraded Century Communities from a “sell” rating to a “hold” rating in a report on Friday, September 5th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $56.00 target price on shares of Century Communities in a research note on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Century Communities in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Century Communities from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Century Communities presently has a consensus rating of “Hold” and an average price target of $71.33.

Read Our Latest Report on Century Communities

Century Communities Stock Performance

The firm’s 50 day simple moving average is $61.08 and its 200 day simple moving average is $60.35. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 9.21 and a beta of 1.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.54 and a current ratio of 0.54.

Century Communities (NYSE:CCS – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The construction company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.66. The firm had revenue of $980.28 million during the quarter, compared to analysts’ expectations of $906.10 million. Century Communities had a net margin of 5.16% and a return on equity of 9.36%. The firm’s revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.77 earnings per share. Sell-side analysts forecast that Century Communities, Inc. will post 11.07 earnings per share for the current fiscal year.

Century Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, November 26th. Century Communities’s payout ratio is 16.93%.

Institutional Trading of Century Communities

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC raised its stake in Century Communities by 34.9% in the 2nd quarter. Penserra Capital Management LLC now owns 4,565 shares of the construction company’s stock valued at $257,000 after purchasing an additional 1,180 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Century Communities by 9.6% during the first quarter. American Century Companies Inc. now owns 63,659 shares of the construction company’s stock worth $4,272,000 after buying an additional 5,600 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Century Communities in the second quarter valued at about $582,000. Jump Financial LLC lifted its stake in shares of Century Communities by 109.7% in the first quarter. Jump Financial LLC now owns 14,188 shares of the construction company’s stock worth $952,000 after buying an additional 7,421 shares in the last quarter. Finally, Creative Planning boosted its position in Century Communities by 117.2% during the second quarter. Creative Planning now owns 37,891 shares of the construction company’s stock worth $2,134,000 after acquiring an additional 20,447 shares during the last quarter. 99.54% of the stock is owned by institutional investors and hedge funds.

Century Communities Company Profile

(Get Free Report)

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.

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