Ultime notizie per Century Communities (NYSE:CCS) Azioni

Century Communities

Century Communities Inc is a construction company that focuses on the residential market. It has five homebuilding segments: West, Mountain, Texas, Southeast, and Century Complete. Its sixth reportable segment is financial services operations, which provides mortgage, title, and insurance services to homebuyers. It has acquired land for homebuilding operations with the primary intent to develop and construct single-family detached or attached homes for sale on the acquired land. The company sells homes through its own sales representatives and independent real estate brokers. It also advertises directly to potential homebuyers through the Internet, newspapers, and trade publications. The company generates the majority revenue from the Mountain segment.

Century Communities Inc

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USA Pending Home Sales (MoM) For September 7.4% Vs 1.9% Est.; 0.6% Prior

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Century Communities shares are trading higher after the company reported better-than-expected Q3 financial results and raised its guidance.

Wedbush analyst Jay McCanless maintains Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) with a Neutral and raises the price target from $90 to $96.

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Analyst Ratings

Wedbush Maintains Neutral on Century Communities, Raises Price Target to $96

B. Riley Securities analyst Alex Rygiel reiterates Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) with a Buy and raises the price target from $113 to $119.

Reiteration

B. Riley Securities Reiterates Buy on Century Communities, Raises Price Target to $119

Earnings

Guidance

Century Communities Raises 2024 Guidance, Now Expects Home Deliveries Between 10,900 And 11,300 Units And Home Sales Revenues Between $4.3B - $4.4B

Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) reported quarterly earnings of $2.72 per share which beat the analyst consensus estimate of $2.56 by 6.25 percent. The company reported quarterly sales of $1.10 billion which met the analyst consensus estimate. This is a 23.68 percent increase over sales of $889.42 million the same period last year.

Earnings Beats

Century Communities Q3 2024 Adj EPS $2.72 Beats $2.56 Estimate, Sales $1.10B Inline

Reported Earlier, Century Communities Expands New Home Offerings With Launch Of Multiple Developments In The Greater Nashville Area

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Shares of housing-related stocks are trading higher after the Fed policy decision to cut rates by 50 basis points, which could help curb housing unaffordability and increase demand.

Seaport Global analyst Kenneth Zener initiates coverage on Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) with a Neutral rating.

Initiation

Seaport Global Initiates Coverage On Century Communities with Neutral Rating

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Shares of household durable companies are trading higher following strong New Home Sales economic data for July. Also, the sector may be moving in sympathy with the market after Fed Chair Powell offered an optimistic U.S. economic outlook and indicated future rate cuts.

Homebuilder stocks surged to record highs on Friday, driven by a positive inflation report that cemented expectations for interest <a href="https://www.benzinga.com/topic/interest-rates">rate cuts in September.</a>
The Personal Consumption Expenditure (PCE) price index — commonly referred to as the Fed&#8217;s favorite inflation measure — fell from 2.6% year-on-year to 2.5% in <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39983210/feds-preferred-inflation-measure-shows-mixed-readings-personal-income-spending-fa">June 2024, matching expectations. </a>
The iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>), a key basket tracking U.S. homebuilder equity performances, jumped 3.8%, marking its third consecutive week of gains. 
Chart: U.S. Home Construction ETF Reaches Record Highs
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="441" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50-1024x441.png" alt="" class="wp-image-459652" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50-1024x441.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50-300x129.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50-768x330.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50-1536x661.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image:<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"> Benzinga Pro </a></figcaption></figure>
Over the past three weeks, U.S. homebuilder stocks have surged by more than 20%, spurred by the anticipation of lower interest rates benefiting rate-sensitive sectors like home construction.
Market participants are now fully pricing in a Federal Reserve rate cut in September, with expectations for at least one more reduction by December 2024. 
&#8220;Homebuilders are trading at the high-end of the&nbsp;historical&nbsp;valuation&nbsp;range, which we think is justified by higher return-on-equity (ROE). On average, we forecast 22% return-on-equity compared to the 2019 level of 20%,&#8221; Bank of America analyst Rafe Jadrosich wrote in a recent report. 
Historically, similar valuation levels in 2018 and 2021 led to sharp pullbacks as the Fed raised rates, Bank of America highlighted. However, the investment bank believes the scenario is different in the second half of 2024, with the Fed likely to begin cutting rates.
On Friday, Bank of America double-upgraded Mohawk Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>) from Underperform to Buy and raised their price target from $120 to $177, following better-than-expected Q2 2024 earnings.
<h3 class="wp-block-heading">Top-Performing Homebuilder Stocks In July 2024</h3>
The top ten best-performing stocks in the U.S. Home Construction ETF this month are:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Price Chg. % (MTD)</td>
</tr>
<tr>
<td>Mohawk Industries, Inc.</td>
<td>37.16%</td>
</tr>
<tr>
<td>M/l Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>)</td>
<td>35.92%</td>
</tr>
<tr>
<td>Green Brick Partners, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRBK#NYSE">GRBK</a>)</td>
<td>31.50%</td>
</tr>
<tr>
<td>American Woodmark Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMWD#NASDAQ">AMWD</a>)</td>
<td>28.44%</td>
</tr>
<tr>
<td>Dream Finders Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFH#NYSE">DFH</a>)</td>
<td>27.42%</td>
</tr>
<tr>
<td>JELD-WEN Holding, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JELD#NYSE">JELD</a>)</td>
<td>26.80%</td>
</tr>
<tr>
<td>Installed Building Products, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBP#NYSE">IBP</a>)</td>
<td>26.65%</td>
</tr>
<tr>
<td>D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>)</td>
<td>26.29%</td>
</tr>
<tr>
<td>Tri Pointe Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>)</td>
<td>26.26%</td>
</tr>
<tr>
<td>Century Communities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>)</td>
<td>26.05%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">As of July 26, 2024</figcaption></figure>
<h3 class="wp-block-heading">Latest Mortgage Rates, Housing Market Data</h3>
The Mortgage Bankers Association recently reported that the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $766,550 or less dropped by 5 basis points to 6.62% for the week<a href="https://www.benzinga.com/news/large-cap/24/07/39931211/mortgage-rates-hit-lowest-point-since-february-as-investors-anticipate-fed-rate-cuts"> ending July 19, 2024.</a>
Despite the easing in borrowing costs, other housing market indicators remain bleak. 
Homebuilder confidence dipped to 42 in July, its lowest reading year-to-date, according to Bank of America.
 Jeffrey Roach, chief economist for LPL Financial, commented on the situation, stating, &#8220;The low supply of homes and high interest rates have depressed affordability to near-term lows.&#8221;
The National Association of Realtors reported a significant 5.4% decline in existing home sales for June, marking the worst monthly drop since 2022. 
Additionally, the U.S. Census Bureau revealed that new single-family home sales fell 0.6% month-over-month to a seasonally adjusted annual rate of 617,000 in June 2024, the lowest in seven months and below forecasts of 640,000, as high prices continued to affect affordability. 
The median sales price of existing homes rose 4.1% year-over-year, setting a new record high.
Now Read:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39970069/investors-go-all-in-on-small-caps-pour-over-6-billion-into-russell-2000-etf-this-month-they-will">Investors Go All In On Small Caps, Pour Over $6 Billion Into Russell 2000 ETF This Month: They &#8216;Will Return To Larger-Cap Alternatives,&#8217; Veteran Analyst Says</a></li>
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Homebuilder Stocks Rally To Record Highs On Rate-Cut Frenzy But Housing Sales Still Struggle

B. Riley Securities analyst Alex Rygiel maintains Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) with a Buy and raises the price target from $110 to $113.

B. Riley Securities Maintains Buy on Century Communities, Raises Price Target to $113

Wedbush analyst Jay McCanless maintains Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) with a Neutral and raises the price target from $82 to $90.

Wedbush Maintains Neutral on Century Communities, Raises Price Target to $90

Century Communities Increases FY 2024 Home Sales Revenues To $4.2B - $4.4B

Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) reported quarterly earnings of $2.61 per share which beat the analyst consensus estimate of $2.46 by 6.1 percent. The company reported quarterly sales of $1.04 billion which beat the analyst consensus estimate of $1.03 billion by 0.71 percent. This is a 23.13 percent increase over sales of $844.19 million the same period last year.

Century Communities Q2 2024 Adj EPS $2.61 Beats $2.46 Estimate, Sales $1.04B Beat $1.03B Estimate

B. Riley Securities analyst Alex Rygiel reiterates Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) with a Buy and maintains $110 price target.

B. Riley Securities Reiterates Buy on Century Communities, Maintains $110 Price Target

Partnership will supply all Century Communities homes with Kohler Co. kitchen and bathroom water fixtures

Century Communities Partners With Kohler To Supply Homes With Kohler Products

Wedbush analyst Jay McCanless upgrades Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) from Underperform to Neutral and announces $82 price target.

Upgrades

Wedbush Upgrades Century Communities to Neutral, Announces $82 Price Target

Shares of homebuilders are trading higher amid overall market strength following April CPI data.

Century Communities Inc Files For Mixed Shelf Offering; Size Not Disclosed

Century Communities, Inc. (CCS) Q3 2024 Earnings Call Transcript

Wedbush analyst Jay McCanless reiterated a Hold rating on Century Communities (CCS – Research Report) today and set a price target of $96.00. The c...

Century Communities (CCS) Gets a Hold from Wedbush

Wedbush raised the firm's price target on Century Communities (CCS) to $96 from $90 and keeps a Neutral rating on the shares. Century's outlook for...

Century Communities price target raised to $96 from $90 at Wedbush

LGI Homes: Staying Firm On This Rating

In a report released on October 28, Michael Rehaut from J.P. Morgan maintained a Sell rating on Century Communities (CCS – Research Report), with a...

Century Communities (CCS) Receives a Sell from J.P. Morgan

Century Communities declares $0.26 dividend

The latest announcement is out from Century Communities ( ($CCS) ). Century Communities, Inc. is undergoing significant leadership changes, with Da...

Century Communities Announces Leadership Changes and Bylaws Update

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Seaport Global analyst Kenneth Zener maintained a Hold rating on Century Communities (CCS – Research Report) today. The company's shares closed yes...

Seaport Global Remains a Hold on Century Communities (CCS)

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