Wedbush Equities Analysts Cut Earnings Estimates for CCS

Century Communities, Inc. (NYSE:CCS) – Investment analysts at Wedbush lowered their FY2024 earnings estimates for Century Communities in a research note issued on Wednesday, October 23rd. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings of $10.71 per share for the year, down from their previous estimate of $10.96. Wedbush has a “Neutral” rating and a $96.00 price target on the stock. The consensus estimate for Century Communities’ current full-year earnings is $10.98 per share. Wedbush also issued estimates for Century Communities’ Q4 2024 earnings at $3.26 EPS, Q3 2025 earnings at $2.84 EPS and Q4 2025 earnings at $3.68 EPS.

Century Communities (NYSE:CCS) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.56 by $0.16. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Century Communities had a net margin of 7.90% and a return on equity of 14.00%. Century Communities’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.58 earnings per share.

Separately, B. Riley reaffirmed a “buy” rating and set a $119.00 price objective (up previously from $113.00) on shares of Century Communities in a research note on Thursday, October 24th.

Century Communities Price Performance

Shares of NYSE:CCS opened at $91.34 on Monday. The company has a 50 day moving average of $99.15 and a 200 day moving average of $90.63. The stock has a market cap of $2.90 billion, a P/E ratio of 10.12 and a beta of 1.85. Century Communities has a 12 month low of $60.54 and a 12 month high of $108.42. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.44.

Institutional Trading of Century Communities

A number of hedge funds and other institutional investors have recently modified their holdings of CCS. Vanguard Group Inc. grew its position in shares of Century Communities by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,020,013 shares of the construction company’s stock worth $184,104,000 after buying an additional 29,989 shares during the period. AlphaMark Advisors LLC purchased a new stake in shares of Century Communities in the 1st quarter worth about $322,000. BNP Paribas Financial Markets grew its position in shares of Century Communities by 48.6% in the 1st quarter. BNP Paribas Financial Markets now owns 22,653 shares of the construction company’s stock worth $2,186,000 after buying an additional 7,407 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Century Communities by 700.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the construction company’s stock worth $309,000 after buying an additional 2,800 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Century Communities in the 1st quarter worth about $57,000. 99.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Century Communities

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

Century Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.04 annualized dividend and a yield of 1.14%. Century Communities’s payout ratio is presently 11.54%.

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.