Wedbush Research Analysts Cut Earnings Estimates for CCS

Century Communities, Inc. (NYSE:CCS) – Investment analysts at Wedbush lowered their FY2024 earnings per share (EPS) estimates for Century Communities in a note issued to investors on Wednesday, October 23rd. Wedbush analyst J. Mccanless now expects 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 objective 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 earnings results on Wednesday, October 23rd. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.16. Century Communities had a net margin of 7.90% and a return on equity of 14.00%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year.

Separately, B. Riley restated a “buy” rating and issued a $119.00 price target (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 $89.85 on Monday. The firm has a market cap of $2.86 billion, a P/E ratio of 9.97 and a beta of 1.85. Century Communities has a twelve month low of $60.54 and a twelve month high of $108.42. 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 company has a 50 day moving average of $99.04 and a 200 day moving average of $90.73.

Institutional Investors Weigh In On Century Communities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd bought a new position in Century Communities in the 1st quarter worth $641,000. Public Employees Retirement System of Ohio boosted its position in shares of Century Communities by 50.2% during the first quarter. Public Employees Retirement System of Ohio now owns 39,150 shares of the construction company’s stock worth $3,778,000 after acquiring an additional 13,091 shares during the last quarter. First Eagle Investment Management LLC grew its stake in Century Communities by 46.0% during 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 acquiring an additional 29,500 shares in the last quarter. Vanguard Group Inc. increased its holdings in Century Communities by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,033,874 shares of the construction company’s stock valued at $196,269,000 after acquiring an additional 13,861 shares during the last quarter. Finally, Ausbil Investment Management Ltd purchased a new stake in Century Communities in the 3rd quarter worth $618,000. 99.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Century Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors 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 dividend on an annualized basis and a yield of 1.16%. Century Communities’s dividend payout ratio (DPR) is 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.