Century Communities (CCS) Stock Price Up 7.2% Following Better-Than-Expected Earnings

Century Communities, Inc (NYSE:CCS) shares rose 7.2% on Wednesday following a better than expected earnings announcement. The stock traded as high as $33.45 and last traded at $31.40. Approximately 603,435 shares traded hands during trading, an increase of 83% from the average daily volume of 329,237 shares. The stock had previously closed at $29.30.

The construction company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.40. The business had revenue of $518.79 million for the quarter, compared to analysts’ expectations of $507.29 million. Century Communities had a return on equity of 10.70% and a net margin of 4.03%.

CCS has been the topic of a number of research analyst reports. Wedbush increased their target price on Century Communities from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, December 29th. B. Riley reissued a “buy” rating and issued a $41.00 target price on shares of Century Communities in a research note on Wednesday, January 3rd. Zacks Investment Research raised Century Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. Finally, ValuEngine raised Century Communities from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $35.17.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Century Communities by 14.6% during the fourth quarter. BlackRock Inc. now owns 2,276,323 shares of the construction company’s stock valued at $70,794,000 after buying an additional 290,340 shares during the last quarter. Oaktree Capital Management LP grew its stake in shares of Century Communities by 23.8% during the fourth quarter. Oaktree Capital Management LP now owns 1,819,003 shares of the construction company’s stock valued at $56,570,000 after buying an additional 350,000 shares during the last quarter. Millennium Management LLC grew its stake in shares of Century Communities by 35.7% during the fourth quarter. Millennium Management LLC now owns 1,241,269 shares of the construction company’s stock valued at $38,603,000 after buying an additional 326,505 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Century Communities by 32.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,178,696 shares of the construction company’s stock valued at $29,114,000 after buying an additional 285,856 shares during the last quarter. Finally, Hodges Capital Management Inc. bought a new position in shares of Century Communities during the fourth quarter valued at about $32,024,000. 64.31% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a market capitalization of $798.24, a P/E ratio of 14.50 and a beta of 1.11. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.19.

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About Century Communities

Century Communities, Inc engages in homebuilding business in Atlanta, Central Texas, Colorado, Houston, Nevada, and Utah. It is involved in the development, design, construction, marketing, and sale of single-family attached and detached homes, as well as entitlement and development of land. The company sells homes through its sales representatives, as well as through independent real estate brokers.

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