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Century Communities (CCS) Soars 10.9%: Is Further Upside Left in the Stock?
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Century Communities (CCS - Free Report) shares rallied 10.9% in the last trading session to close at $68.33. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.8% loss over the past four weeks.
CCS stock has likely gained momentum amid renewed optimism around improving housing affordability in the United States. Investor sentiment was supported by a recent meeting between U.S. Commerce Secretary Howard Lutnick and executives from major homebuilders, which underscored the Trump administration’s focus on easing affordability pressures through targeted incentives. The stock may have also benefited from President Donald Trump’s order for $200 billion in mortgage bond purchases, a move aimed at lowering housing costs and improving mortgage affordability.
This single-family homebuilder is expected to post quarterly earnings of $1.39 per share in its upcoming report, which represents a year-over-year change of -60.2%. Revenues are expected to be $1.07 billion, down 16.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Century Communities, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CCS going forward to see if this recent jump can turn into more strength down the road.
Century Communities is part of the Zacks Building Products - Home Builders industry. Meritage Homes (MTH - Free Report) , another stock in the same industry, closed the last trading session 10.4% higher at $75.45. MTH has returned -5.8% in the past month.
For Meritage, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.57. This represents a change of -66.7% from what the company reported a year ago. Meritage currently has a Zacks Rank of #4 (Sell).
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Century Communities (CCS) Soars 10.9%: Is Further Upside Left in the Stock?
Century Communities (CCS - Free Report) shares rallied 10.9% in the last trading session to close at $68.33. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.8% loss over the past four weeks.
CCS stock has likely gained momentum amid renewed optimism around improving housing affordability in the United States. Investor sentiment was supported by a recent meeting between U.S. Commerce Secretary Howard Lutnick and executives from major homebuilders, which underscored the Trump administration’s focus on easing affordability pressures through targeted incentives. The stock may have also benefited from President Donald Trump’s order for $200 billion in mortgage bond purchases, a move aimed at lowering housing costs and improving mortgage affordability.
This single-family homebuilder is expected to post quarterly earnings of $1.39 per share in its upcoming report, which represents a year-over-year change of -60.2%. Revenues are expected to be $1.07 billion, down 16.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Century Communities, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CCS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Century Communities is part of the Zacks Building Products - Home Builders industry. Meritage Homes (MTH - Free Report) , another stock in the same industry, closed the last trading session 10.4% higher at $75.45. MTH has returned -5.8% in the past month.
For Meritage, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.57. This represents a change of -66.7% from what the company reported a year ago. Meritage currently has a Zacks Rank of #4 (Sell).