Century Communities Inc (NYSE:CCS) – Research analysts at B. Riley lowered their FY2018 earnings estimates for Century Communities in a research report issued to clients and investors on Wednesday, November 7th. B. Riley analyst A. Rygiel now anticipates that the construction company will post earnings per share of $4.20 for the year, down from their prior forecast of $4.54. B. Riley has a “Buy” rating and a $37.00 price objective on the stock. B. Riley also issued estimates for Century Communities’ Q4 2018 earnings at $1.39 EPS and FY2019 earnings at $5.25 EPS.
A number of other research firms have also recently issued reports on CCS. Zacks Investment Research cut Century Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. ValuEngine cut Century Communities from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. JPMorgan Chase & Co. cut Century Communities from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $38.50 to $31.50 in a research report on Friday, September 21st. Finally, Wedbush reissued an “outperform” rating and set a $30.00 price objective (down previously from $42.00) on shares of Century Communities in a research report on Monday, October 29th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.50.
Century Communities (NYSE:CCS) last released its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.03). The firm had revenue of $552.90 million for the quarter, compared to analyst estimates of $553.88 million. Century Communities had a net margin of 4.34% and a return on equity of 14.84%. Century Communities’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of CCS. Bank of Montreal Can raised its holdings in 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 buying an additional 5,552 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Century Communities during the second quarter valued at about $325,000. AJ Wealth Strategies LLC bought a new position in Century Communities during the second quarter valued at about $513,000. State of New Jersey Common Pension Fund D raised its holdings in 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 buying an additional 17,500 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Century Communities by 18.6% during the second quarter. First Trust Advisors LP now owns 27,191 shares of the construction company’s stock valued at $858,000 after buying an additional 4,255 shares in the last quarter. Institutional investors own 80.53% of the company’s stock.
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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