Key Points
- Chairman Dale Francescon sold 100,100 shares on Feb. 12 at an average price of $72.44 for proceeds of $7.25M, cutting his stake by 15.13% to 561,662 shares; the transaction was disclosed in an SEC filing.
- Century Communities increased its quarterly dividend to $0.32 (from $0.29), equivalent to a $1.28 annualized payout and roughly a 1.7% yield, with an ex-dividend date of Feb. 25 and payment on Mar. 11.
- Quarterly results topped estimates — the company reported $1.59 EPS vs. a $1.39 consensus and $1.23B revenue vs. $1.04B expected, though revenue fell 3.1% year-over-year and analyst ratings remain mixed with a consensus target of $74.75.
Century Communities, Inc. (NYSE:CCS - Get Free Report) Chairman Dale Francescon sold 100,100 shares of the firm's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $72.44, for a total value of $7,251,244.00. Following the sale, the chairman directly owned 561,662 shares of the company's stock, valued at approximately $40,686,795.28. This represents a 15.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Century Communities Price Performance
Shares of NYSE:CCS opened at $74.89 on Friday. The company has a market capitalization of $2.18 billion, a P/E ratio of 15.41 and a beta of 1.58. The company's 50-day moving average is $64.29 and its 200 day moving average is $63.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.08 and a current ratio of 1.08. Century Communities, Inc. has a fifty-two week low of $50.42 and a fifty-two week high of $76.00.
Century Communities (NYSE:CCS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The construction company reported $1.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.20. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.04 billion. Century Communities had a net margin of 3.58% and a return on equity of 6.87%. The firm's quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.54 earnings per share. On average, equities research analysts forecast that Century Communities, Inc. will post 11.07 earnings per share for the current year.
Century Communities Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be issued a $0.32 dividend. This is a boost from Century Communities's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.7%. Century Communities's payout ratio is presently 23.87%.
Analyst Upgrades and Downgrades
CCS has been the subject of several research reports. Citizens Jmp started coverage on Century Communities in a report on Wednesday, January 21st. They set a "market outperform" rating and a $92.00 price objective for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Century Communities in a research note on Wednesday, January 21st. Citigroup started coverage on Century Communities in a report on Wednesday, January 21st. They issued an "outperform" rating for the company. JPMorgan Chase & Co. lowered their price objective on Century Communities from $56.00 to $49.00 and set an "underweight" rating on the stock in a research note on Monday, February 2nd. Finally, B. Riley Financial reiterated a "buy" rating on shares of Century Communities in a research report on Thursday, January 29th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Century Communities presently has an average rating of "Hold" and a consensus target price of $74.75.
Check Out Our Latest Analysis on CCS
Hedge Funds Weigh In On Century Communities
Several hedge funds have recently made changes to their positions in CCS. Parallel Advisors LLC lifted its holdings in Century Communities by 207.6% during the 4th quarter. Parallel Advisors LLC now owns 609 shares of the construction company's stock worth $36,000 after purchasing an additional 411 shares in the last quarter. Traub Capital Management LLC bought a new stake in shares of Century Communities during the second quarter valued at about $39,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Century Communities by 175.5% in the second quarter. EverSource Wealth Advisors LLC now owns 730 shares of the construction company's stock worth $41,000 after buying an additional 465 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Century Communities by 1,513.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the construction company's stock valued at $81,000 after acquiring an additional 1,135 shares during the period. Finally, State of Wyoming boosted its position in shares of Century Communities by 37.3% in the third quarter. State of Wyoming now owns 1,644 shares of the construction company's stock valued at $104,000 after acquiring an additional 447 shares during the period. 99.54% of the stock is currently owned by hedge funds and other institutional investors.
About Century Communities
(
Get Free Report)
Century Communities, Inc is a national homebuilder and land developer headquartered in Greenwood Village, Colorado. The company is engaged in the acquisition, development, construction and sale of single- and multi-family residential homes, offering a range of floor plans and design options to homebuyers. In addition to its core homebuilding activities, Century Communities provides ancillary services such as mortgage financing, title and closing services, and insurance products through its wholly owned subsidiaries, aiming to deliver a comprehensive homebuying experience.
Founded in 2009, Century Communities rapidly expanded through both organic growth and strategic land acquisitions, positioning itself in high-growth markets across the United States.
Further Reading
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