Wedbush Comments on Century Communities, Inc.’s Q3 2024 Earnings (NYSE:CCS)

Century Communities, Inc. (NYSE:CCS) – Equities researchers at Wedbush raised their Q3 2024 EPS estimates for Century Communities in a report released on Wednesday, July 24th. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings of $2.57 per share for the quarter, up from their prior estimate of $2.41. Wedbush currently has a “Neutral” rating and a $90.00 target price on the stock. The consensus estimate for Century Communities’ current full-year earnings is $10.36 per share. Wedbush also issued estimates for Century Communities’ 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 boosted their target price on shares of Century Communities from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday.

Century Communities Stock Performance

Century Communities stock opened at $99.80 on Friday. Century Communities has a 12-month low of $58.01 and a 12-month high of $103.42. The stock has a 50-day simple moving average of $84.80 and a 200 day simple moving average of $85.87. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 11.08 and a beta of 1.86.

Century Communities (NYSE:CCS) last posted its quarterly earnings data on Wednesday, July 24th. The construction company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.19. Century Communities had a return on equity of 14.15% and a net margin of 7.90%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The business’s revenue was up 24.3% on a year-over-year basis.

Hedge Funds Weigh In On Century Communities

Large investors have recently made changes to their positions in the company. Covestor Ltd increased its position in Century Communities by 95.0% in the first quarter. Covestor Ltd now owns 273 shares of the construction company’s stock worth $26,000 after purchasing an additional 133 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Century Communities in the 4th quarter valued at about $36,000. GAMMA Investing LLC acquired a new stake in shares of Century Communities during the 4th quarter worth approximately $55,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Century Communities during the 1st quarter worth approximately $57,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Century Communities during the fourth quarter worth approximately $107,000. Institutional investors and hedge funds own 99.54% of the company’s stock.

Century Communities Dividend Announcement

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