Century Communities (CCS) Issues Earnings Results, Misses Expectations By $0.03 EPS

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Century Communities (NYSE:CCS) released its quarterly earnings data on Tuesday. The construction company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.03), Briefing.com reports. Century Communities had a return on equity of 14.40% and a net margin of 4.36%. The business had revenue of $552.90 million during the quarter, compared to analysts’ expectations of $553.88 million. During the same period last year, the company earned $0.73 earnings per share. The firm’s revenue was up 47.5% compared to the same quarter last year.

Shares of CCS stock traded up $0.62 during mid-day trading on Wednesday, hitting $22.14. 977,200 shares of the stock traded hands, compared to its average volume of 332,660. The firm has a market cap of $642.74 million, a price-to-earnings ratio of 7.71 and a beta of 1.19. Century Communities has a 52-week low of $20.21 and a 52-week high of $36.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.40 and a current ratio of 0.40.

A number of research firms recently weighed in on CCS. B. Riley lowered their price objective on shares of Century Communities from $45.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Investment Research lowered shares of Century Communities from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective (down from $42.00) on shares of Century Communities in a research note on Monday, October 29th. They noted that the move was a valuation call. ValuEngine lowered shares of Century Communities from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 11th. Finally, JPMorgan Chase & Co. lowered shares of Century Communities from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $38.50 to $31.50 in a research note on Friday, September 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $34.50.

Several hedge funds have recently added to or reduced their stakes in CCS. Northern Trust Corp lifted its position in shares of Century Communities by 5.5% during the first quarter. Northern Trust Corp now owns 253,719 shares of the construction company’s stock valued at $7,599,000 after buying an additional 13,131 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Century Communities by 8,812.7% during the second quarter. Bank of Montreal Can now owns 5,615 shares of the construction company’s stock valued at $177,000 after acquiring an additional 5,552 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Century Communities during the second quarter valued at about $325,000. AJ Wealth Strategies LLC acquired a new position in shares of Century Communities during the second quarter valued at about $513,000. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Century Communities by 142.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 29,745 shares of the construction company’s stock valued at $938,000 after acquiring an additional 17,500 shares in the last quarter. 80.53% of the stock is owned by institutional investors and hedge funds.

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Century Communities Company Profile

Century Communities, Inc engages in the development, design, construction, marketing, and sale of single-family attached and detached homes in metropolitan areas in California, Colorado, Georgia, Nevada, North Carolina, South Carolina, Tennessee, Texas, Utah, and Washington. It is also involved in the entitlement and development of the underlying land; and the provision of mortgage services and title services to its home buyers.

Further Reading: Diversification in Investing

Earnings History for Century Communities (NYSE:CCS)

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