Century Communities (NYSE:CCS) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Century Communities (NYSE:CCS) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Century Communities from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Zelman & Associates lowered shares of Century Communities from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 7th. B. Riley Financial cut shares of Century Communities from a “buy” rating to a “neutral” rating and dropped their price target for the company from $75.00 to $64.00 in a research note on Thursday, April 23rd. JPMorgan Chase & Co. cut their price target on shares of Century Communities from $49.00 to $45.00 and set an “underweight” rating for the company in a report on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Century Communities from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Century Communities currently has a consensus rating of “Hold” and a consensus target price of $67.00.

Century Communities Stock Up 0.7%

Shares of NYSE:CCS opened at $71.00 on Monday. Century Communities has a 52-week low of $47.28 and a 52-week high of $76.00. The stock has a market cap of $2.02 billion, a P/E ratio of 15.57 and a beta of 1.29. The business has a fifty day moving average of $62.22 and a two-hundred day moving average of $62.13. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.44.

Century Communities (NYSE:CCS) last posted its quarterly earnings results on Wednesday, July 22nd. The construction company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.63 by $0.67. The business had revenue of $927.23 million for the quarter, compared to analyst estimates of $857.23 million. Century Communities had a return on equity of 6.06% and a net margin of 3.41%.The company’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. On average, research analysts expect that Century Communities will post 4.86 earnings per share for the current year.

Century Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 27th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, May 27th. Century Communities’s dividend payout ratio (DPR) is presently 28.07%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CCS. Axiom Investment Management LLC acquired a new stake in shares of Century Communities during the first quarter valued at about $287,000. EMG Holdings L.P. raised its stake in shares of Century Communities by 307.2% in the 1st quarter. EMG Holdings L.P. now owns 56,285 shares of the construction company’s stock valued at $3,230,000 after acquiring an additional 42,464 shares during the period. Bank of America Corp DE lifted its holdings in shares of Century Communities by 4.9% in the 1st quarter. Bank of America Corp DE now owns 153,996 shares of the construction company’s stock worth $8,836,000 after acquiring an additional 7,134 shares during the last quarter. Amundi boosted its position in shares of Century Communities by 10.3% during the 1st quarter. Amundi now owns 5,079 shares of the construction company’s stock worth $291,000 after purchasing an additional 475 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Century Communities by 32.9% during the 1st quarter. California State Teachers Retirement System now owns 32,443 shares of the construction company’s stock worth $1,862,000 after purchasing an additional 8,026 shares during the period. Institutional investors and hedge funds own 99.54% of the company’s stock.

About Century Communities

Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.

Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.