Wedbush Raises Century Communities (NYSE:CCS) Price Target to $90.00

Century Communities (NYSE:CCS) had its price objective upped by Wedbush from $82.00 to $90.00 in a research report report published on Thursday morning, Benzinga reports. Wedbush currently has a neutral rating on the construction company’s stock. Wedbush also issued estimates for Century Communities’ Q3 2024 earnings at $2.57 EPS, Q4 2024 earnings at $3.52 EPS, Q2 2025 earnings at $2.74 EPS, Q4 2025 earnings at $3.53 EPS and FY2025 earnings at $11.54 EPS.

Separately, B. Riley restated a buy rating and set a $110.00 price objective on shares of Century Communities in a research report on Tuesday, July 16th.

Century Communities Price Performance

CCS stock opened at $101.51 on Thursday. Century Communities has a 1 year low of $58.01 and a 1 year high of $105.17. The firm has a market capitalization of $3.23 billion, a PE ratio of 11.27 and a beta of 1.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.90 and a quick ratio of 1.20. The business has a 50 day simple moving average of $85.06 and a 200-day simple moving average of $85.97.

Century Communities (NYSE:CCS) last issued its earnings results on Wednesday, July 24th. The construction company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.19. Century Communities had a return on equity of 14.00% and a net margin of 7.90%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business earned $1.60 EPS. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. Equities research analysts anticipate that Century Communities will post 10.68 earnings per share for the current fiscal year.

Century Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 29th. This represents a $1.04 annualized dividend and a yield of 1.02%. Century Communities’s dividend payout ratio (DPR) is 11.54%.

Institutional Investors Weigh In On Century Communities

A number of institutional investors and hedge funds have recently made changes to their positions in CCS. Louisiana State Employees Retirement System lifted its holdings in Century Communities by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the construction company’s stock worth $1,160,000 after buying an additional 200 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Century Communities by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 9,752 shares of the construction company’s stock valued at $796,000 after purchasing an additional 186 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Century Communities by 673.8% during the second quarter. Assenagon Asset Management S.A. now owns 66,498 shares of the construction company’s stock worth $5,430,000 after acquiring an additional 57,904 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new position in Century Communities during the 2nd quarter worth $300,000. Finally, Harbor Capital Advisors Inc. increased its position in Century Communities by 4.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 8,960 shares of the construction company’s stock valued at $732,000 after acquiring an additional 415 shares during the period. 99.54% of the stock is owned by hedge funds and other institutional investors.

Century Communities Company Profile

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.