Wedbush Reiterates “Neutral” Rating for Century Communities (NYSE:CCS)

Wedbush restated their neutral rating on shares of Century Communities (NYSE:CCS) in a report released on Thursday,RTT News reports. The brokerage currently has a $93.00 price objective on the construction company’s stock, down from their previous price objective of $96.00.

CCS has been the subject of a number of other reports. B. Riley reiterated a “buy” rating and set a $119.00 price objective (up from $113.00) on shares of Century Communities in a research report on Thursday, October 24th. StockNews.com downgraded Century Communities from a “hold” rating to a “sell” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upgraded Century Communities from an “underweight” rating to a “neutral” rating and dropped their target price for the company from $110.00 to $97.00 in a research report on Friday, December 13th.

Century Communities Stock Performance

Shares of Century Communities stock opened at $78.32 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.45 billion, a PE ratio of 7.81 and a beta of 1.91. The company has a 50 day moving average of $79.51 and a 200-day moving average of $90.37. Century Communities has a 1-year low of $68.49 and a 1-year high of $108.42.

Century Communities (NYSE:CCS) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.33. Century Communities had a return on equity of 13.79% and a net margin of 7.44%. As a group, equities research analysts forecast that Century Communities will post 10.95 earnings per share for the current fiscal year.

Century Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 27th were issued a $0.26 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.33%. Century Communities’s payout ratio is 10.37%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC lifted its stake in shares of Century Communities by 9.9% in the third quarter. Jennison Associates LLC now owns 544,407 shares of the construction company’s stock worth $56,063,000 after acquiring an additional 49,256 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Century Communities by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 493,480 shares of the construction company’s stock worth $50,819,000 after buying an additional 16,397 shares during the period. Franklin Resources Inc. lifted its holdings in Century Communities by 11.6% in the third quarter. Franklin Resources Inc. now owns 490,758 shares of the construction company’s stock valued at $48,502,000 after buying an additional 51,021 shares during the period. Basswood Capital Management L.L.C. boosted its position in Century Communities by 11.8% during the third quarter. Basswood Capital Management L.L.C. now owns 435,966 shares of the construction company’s stock valued at $44,896,000 after acquiring an additional 46,104 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Century Communities by 444.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 362,227 shares of the construction company’s stock worth $37,302,000 after acquiring an additional 295,729 shares during the period. 99.54% of the stock is owned by institutional investors and hedge funds.

About Century Communities

Century Communities, Inc, together with its subsidiaries, engages in the design, development, construction, marketing, and sale of single-family attached and detached homes. It is also involved in the entitlement and development of the underlying land; and provision of mortgage, title, and insurance services to its homebuyers.