Century Communities (CCS) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

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

CCS traded up $0.62 during trading on Wednesday, reaching $22.14. 977,200 shares of the company were exchanged, compared to its average volume of 332,660. The stock has a market capitalization of $642.74 million, a price-to-earnings ratio of 7.71 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.40 and a current ratio of 0.40. Century Communities has a 12-month low of $20.21 and a 12-month high of $36.00.

CCS has been the subject of several research reports. Zacks Investment Research upgraded Century Communities from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Monday, August 13th. B. Riley dropped their price objective on Century Communities from $45.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut Century Communities from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $38.50 to $31.50 in a report on Friday, September 21st. Wedbush reissued an “outperform” rating and set a $30.00 price objective (down previously from $42.00) on shares of Century Communities in a report on Monday, October 29th. They noted that the move was a valuation call. Finally, ValuEngine cut Century Communities from a “hold” rating to a “sell” rating in a report on Saturday, September 22nd. 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 stock. The stock presently has an average rating of “Hold” and an average price target of $34.50.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Century Communities by 8.6% during the 2nd quarter. BlackRock Inc. now owns 2,156,079 shares of the construction company’s stock worth $68,026,000 after purchasing an additional 170,531 shares in the last quarter. MetLife Investment Advisors LLC lifted its holdings in Century Communities by 26.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 12,109 shares of the construction company’s stock worth $382,000 after purchasing an additional 2,523 shares in the last quarter. B. Riley Financial Inc. lifted its holdings in Century Communities by 34.6% during the 2nd quarter. B. Riley Financial Inc. now owns 12,912 shares of the construction company’s stock worth $407,000 after purchasing an additional 3,320 shares in the last quarter. Swiss National Bank lifted its holdings in Century Communities by 18.5% during the 2nd quarter. Swiss National Bank now owns 38,466 shares of the construction company’s stock worth $1,214,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Century Communities by 17.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,245,213 shares of the construction company’s stock worth $70,836,000 after purchasing an additional 330,733 shares in the last quarter. 80.53% of the stock is currently owned by institutional investors and hedge funds.

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About Century Communities

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.

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Earnings History for Century Communities (NYSE:CCS)

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