Century Communities (NYSE:CCS) Stock Price Crosses Below Fifty Day Moving Average Following Analyst Downgrade

Shares of Century Communities, Inc. (NYSE:CCS) passed below its 50-day moving average during trading on Monday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock has a 50-day moving average of $66.83 and traded as low as $60.60. Century Communities shares last traded at $61.69, with a volume of 186,778 shares changing hands.

Several other equities analysts have also weighed in on CCS. Wall Street Zen upgraded shares of Century Communities from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Zelman & Associates downgraded shares of Century Communities from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings raised shares of Century Communities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 24th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $67.00.

Hedge Funds Weigh In On Century Communities

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Century Communities during the second quarter worth about $367,973,000. Wellington Management Group LLP boosted its stake in shares of Century Communities by 15.1% in the second quarter. Wellington Management Group LLP now owns 1,050,982 shares of the construction company’s stock valued at $75,313,000 after purchasing an additional 137,957 shares during the period. Heartland Advisors Inc. acquired a new position in shares of Century Communities in the second quarter valued at approximately $37,006,000. Lakewood Capital Management LP acquired a new position in shares of Century Communities in the second quarter valued at approximately $34,898,000. Finally, Jennison Associates LLC increased its stake in Century Communities by 4.9% during the 1st quarter. Jennison Associates LLC now owns 349,512 shares of the construction company’s stock worth $20,055,000 after buying an additional 16,467 shares during the period. 99.54% of the stock is owned by institutional investors and hedge funds.

Century Communities Stock Performance

The stock has a market capitalization of $1.74 billion, a PE ratio of 13.42 and a beta of 1.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50 day moving average is $66.70 and its two-hundred day moving average is $61.68.

Century Communities (NYSE:CCS) last issued its quarterly earnings results on Wednesday, July 22nd. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $0.63 by $0.67. The company had revenue of $927.23 million during the quarter, compared to analysts’ expectations of $857.23 million. Century Communities had a net margin of 3.41% and a return on equity of 6.06%. The firm’s revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 EPS. As a group, research analysts predict that Century Communities, Inc. will post 4.86 earnings per share for the current year.

Century Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th were issued a $0.32 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. Century Communities’s dividend payout ratio (DPR) is 28.07%.

Century Communities Company Profile

Century Communities, Inc is a homebuilding company headquartered in Denver, Colorado. Founded in 2002, the company develops and constructs single-family homes and townhomes for first-time, move-up and active-adult buyers.

The company markets homes under the Century Communities and Century Complete brands. Century Communities generally offers homes through its traditional sales model, while Century Complete focuses on streamlined, value-oriented homebuying, including online purchasing in select communities.