Century Communities (NYSE:CCS) Shares Gap Down – Here’s Why

Century Communities, Inc. (NYSE:CCS)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $91.32, but opened at $87.66. Century Communities shares last traded at $85.68, with a volume of 31,519 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CCS shares. Wedbush raised their price target on Century Communities from $90.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. B. Riley reiterated a “buy” rating and issued a $119.00 price target (up previously from $113.00) on shares of Century Communities in a report on Thursday, October 24th.

Century Communities Stock Performance

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.79 billion, a P/E ratio of 9.49 and a beta of 1.85. The stock has a fifty day simple moving average of $99.10 and a 200-day simple moving average of $90.69.

Century Communities (NYSE:CCS) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.16. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Century Communities had a return on equity of 14.00% and a net margin of 7.90%. Century Communities’s revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 earnings per share. Equities analysts expect that Century Communities, Inc. will post 10.98 earnings per share for the current fiscal year.

Century Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 28th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, August 28th. Century Communities’s dividend payout ratio is currently 11.54%.

Insider Activity at Century Communities

In related news, CEO Robert J. Francescon sold 50,000 shares of Century Communities stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $92.64, for a total value of $4,632,000.00. Following the sale, the chief executive officer now owns 477,931 shares of the company’s stock, valued at approximately $44,275,527.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John P. Box sold 11,282 shares of Century Communities stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $100.07, for a total value of $1,128,989.74. Following the sale, the director now owns 45,127 shares of the company’s stock, valued at approximately $4,515,858.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert J. Francescon sold 50,000 shares of Century Communities stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $92.64, for a total value of $4,632,000.00. Following the completion of the sale, the chief executive officer now directly owns 477,931 shares in the company, valued at approximately $44,275,527.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 11.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Century Communities

Hedge funds and other institutional investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd bought a new position in Century Communities in the first quarter valued at approximately $641,000. Public Employees Retirement System of Ohio grew its stake in Century Communities by 50.2% in the first quarter. Public Employees Retirement System of Ohio now owns 39,150 shares of the construction company’s stock valued at $3,778,000 after purchasing an additional 13,091 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Century Communities by 46.0% in the first quarter. First Eagle Investment Management LLC now owns 93,678 shares of the construction company’s stock valued at $9,040,000 after purchasing an additional 29,500 shares in the last quarter. Vanguard Group Inc. grew its stake in Century Communities by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,033,874 shares of the construction company’s stock valued at $196,269,000 after purchasing an additional 13,861 shares in the last quarter. Finally, Ausbil Investment Management Ltd bought a new position in Century Communities in the third quarter valued at approximately $618,000. Institutional investors and hedge funds own 99.54% of the company’s stock.

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.