Intrinsic value of Century Communities - CCS

Previous Close

$33.00

  Intrinsic Value

$1,046

stock screener

  Rating & Target

str. buy

+999%

Previous close

$33.00

 
Intrinsic value

$1,046

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of CCS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
(a)
   1
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -100.00
  43.20
  39.38
  35.94
  32.85
  30.06
  27.56
  25.30
  23.27
  21.44
  19.80
  18.32
  16.99
  15.79
  14.71
  13.74
  12.87
  12.08
  11.37
  10.73
  10.16
  9.64
  9.18
  8.76
  8.39
  8.05
  7.74
  7.47
  7.22
  7.00
  6.80
Revenue, $m
  0
  2,039
  2,842
  3,864
  5,133
  6,676
  8,516
  10,670
  13,153
  15,974
  19,137
  22,642
  26,489
  30,671
  35,183
  40,016
  45,164
  50,620
  56,375
  62,427
  68,769
  75,402
  82,323
  89,536
  97,044
  104,854
  112,972
  121,409
  130,176
  139,287
  148,758
Variable operating expenses, $m
 
  1,893
  2,638
  3,585
  4,762
  6,193
  7,899
  9,896
  12,199
  14,814
  17,747
  20,995
  24,561
  28,439
  32,623
  37,105
  41,878
  46,937
  52,274
  57,885
  63,766
  69,916
  76,334
  83,022
  89,984
  97,225
  104,753
  112,576
  120,705
  129,153
  137,935
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  0
  1,893
  2,638
  3,585
  4,762
  6,193
  7,899
  9,896
  12,199
  14,814
  17,747
  20,995
  24,561
  28,439
  32,623
  37,105
  41,878
  46,937
  52,274
  57,885
  63,766
  69,916
  76,334
  83,022
  89,984
  97,225
  104,753
  112,576
  120,705
  129,153
  137,935
Operating income, $m
  0
  146
  204
  279
  371
  483
  617
  774
  954
  1,160
  1,390
  1,647
  1,927
  2,231
  2,560
  2,911
  3,286
  3,683
  4,102
  4,542
  5,003
  5,486
  5,989
  6,514
  7,061
  7,629
  8,219
  8,833
  9,471
  10,134
  10,823
EBITDA, $m
  0
  348
  484
  659
  875
  1,138
  1,452
  1,819
  2,242
  2,723
  3,262
  3,860
  4,515
  5,228
  5,997
  6,821
  7,699
  8,628
  9,610
  10,641
  11,722
  12,853
  14,032
  15,262
  16,542
  17,873
  19,257
  20,695
  22,189
  23,742
  25,357
Interest expense (income), $m
  0
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
Earnings before tax, $m
  0
  142
  200
  274
  367
  479
  613
  769
  950
  1,155
  1,385
  1,643
  1,923
  2,227
  2,555
  2,907
  3,282
  3,679
  4,097
  4,538
  4,999
  5,482
  5,985
  6,510
  7,056
  7,624
  8,215
  8,829
  9,467
  10,130
  10,819
Tax expense, $m
  0
  38
  54
  74
  99
  129
  165
  208
  257
  312
  374
  444
  519
  601
  690
  785
  886
  993
  1,106
  1,225
  1,350
  1,480
  1,616
  1,758
  1,905
  2,059
  2,218
  2,384
  2,556
  2,735
  2,921
Net income, $m
  0
  103
  146
  200
  268
  350
  447
  562
  694
  843
  1,011
  1,199
  1,404
  1,626
  1,865
  2,122
  2,396
  2,685
  2,991
  3,312
  3,649
  4,002
  4,369
  4,752
  5,151
  5,566
  5,997
  6,445
  6,911
  7,395
  7,898

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  0
  -1,750
  -2,440
  -3,317
  -4,406
  -5,730
  -7,310
  -9,159
  -11,290
  -13,711
  -16,426
  -19,435
  -22,737
  -26,327
  -30,200
  -34,349
  -38,768
  -43,450
  -48,391
  -53,585
  -59,029
  -64,722
  -70,664
  -76,855
  -83,300
  -90,003
  -96,972
  -104,214
  -111,739
  -119,560
  -127,689
Adjusted assets (=assets-cash), $m
  0
  -1,750
  -2,440
  -3,317
  -4,406
  -5,730
  -7,310
  -9,159
  -11,290
  -13,711
  -16,426
  -19,435
  -22,737
  -26,327
  -30,200
  -34,349
  -38,768
  -43,450
  -48,391
  -53,585
  -59,029
  -64,722
  -70,664
  -76,855
  -83,300
  -90,003
  -96,972
  -104,214
  -111,739
  -119,560
  -127,689
Revenue / Adjusted assets
  0.000
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
  -1.165
Average production assets, $m
  0
  1,992
  2,777
  3,775
  5,015
  6,522
  8,320
  10,425
  12,851
  15,606
  18,696
  22,122
  25,879
  29,966
  34,373
  39,096
  44,126
  49,455
  55,079
  60,991
  67,188
  73,667
  80,430
  87,477
  94,812
  102,442
  110,374
  118,616
  127,182
  136,084
  145,336
Working capital, $m
  0
  -1,389
  -1,936
  -2,631
  -3,495
  -4,546
  -5,799
  -7,266
  -8,957
  -10,878
  -13,032
  -15,419
  -18,039
  -20,887
  -23,959
  -27,251
  -30,757
  -34,472
  -38,392
  -42,513
  -46,832
  -51,348
  -56,062
  -60,974
  -66,087
  -71,405
  -76,934
  -82,679
  -88,650
  -94,855
  -101,304
Total debt, $m
  0
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
  81
Total liabilities, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total equity, $m
  0
  -1,750
  -2,440
  -3,317
  -4,406
  -5,730
  -7,310
  -9,159
  -11,290
  -13,711
  -16,426
  -19,435
  -22,737
  -26,327
  -30,200
  -34,349
  -38,768
  -43,450
  -48,391
  -53,585
  -59,029
  -64,722
  -70,664
  -76,855
  -83,300
  -90,003
  -96,972
  -104,214
  -111,739
  -119,560
  -127,689
Total liabilities and equity, $m
  0
  -1,750
  -2,440
  -3,317
  -4,406
  -5,730
  -7,310
  -9,159
  -11,290
  -13,711
  -16,426
  -19,435
  -22,737
  -26,327
  -30,200
  -34,349
  -38,768
  -43,450
  -48,391
  -53,585
  -59,029
  -64,722
  -70,664
  -76,855
  -83,300
  -90,003
  -96,972
  -104,214
  -111,739
  -119,560
  -127,689
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  0.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  0
  103
  146
  200
  268
  350
  447
  562
  694
  843
  1,011
  1,199
  1,404
  1,626
  1,865
  2,122
  2,396
  2,685
  2,991
  3,312
  3,649
  4,002
  4,369
  4,752
  5,151
  5,566
  5,997
  6,445
  6,911
  7,395
  7,898
Depreciation, amort., depletion, $m
  0
  202
  280
  380
  504
  655
  834
  1,045
  1,288
  1,563
  1,872
  2,212
  2,588
  2,997
  3,437
  3,910
  4,413
  4,946
  5,508
  6,099
  6,719
  7,367
  8,043
  8,748
  9,481
  10,244
  11,037
  11,862
  12,718
  13,608
  14,534
Funds from operations, $m
  0
  305
  426
  580
  772
  1,004
  1,282
  1,607
  1,981
  2,407
  2,884
  3,412
  3,992
  4,622
  5,303
  6,032
  6,808
  7,631
  8,499
  9,411
  10,368
  11,368
  12,412
  13,500
  14,632
  15,810
  17,034
  18,307
  19,629
  21,003
  22,431
Change in working capital, $m
  0
  -419
  -547
  -696
  -864
  -1,051
  -1,253
  -1,467
  -1,691
  -1,921
  -2,154
  -2,387
  -2,619
  -2,848
  -3,072
  -3,292
  -3,506
  -3,715
  -3,920
  -4,121
  -4,319
  -4,517
  -4,714
  -4,912
  -5,113
  -5,318
  -5,528
  -5,746
  -5,971
  -6,205
  -6,449
Cash from operations, $m
  0
  724
  973
  1,276
  1,636
  2,055
  2,535
  3,074
  3,672
  4,327
  5,037
  5,799
  6,611
  7,470
  8,375
  9,324
  10,314
  11,346
  12,419
  13,532
  14,687
  15,885
  17,126
  18,412
  19,745
  21,128
  22,563
  24,052
  25,599
  27,208
  28,881
Maintenance CAPEX, $m
  0
  -139
  -199
  -278
  -377
  -501
  -652
  -832
  -1,042
  -1,285
  -1,561
  -1,870
  -2,212
  -2,588
  -2,997
  -3,437
  -3,910
  -4,413
  -4,946
  -5,508
  -6,099
  -6,719
  -7,367
  -8,043
  -8,748
  -9,481
  -10,244
  -11,037
  -11,862
  -12,718
  -13,608
New CAPEX, $m
  0
  -601
  -785
  -998
  -1,240
  -1,508
  -1,797
  -2,105
  -2,426
  -2,756
  -3,090
  -3,425
  -3,758
  -4,086
  -4,408
  -4,723
  -5,030
  -5,330
  -5,623
  -5,912
  -6,197
  -6,480
  -6,763
  -7,047
  -7,336
  -7,630
  -7,931
  -8,243
  -8,566
  -8,902
  -9,253
Cash from investing activities, $m
  0
  -740
  -984
  -1,276
  -1,617
  -2,009
  -2,449
  -2,937
  -3,468
  -4,041
  -4,651
  -5,295
  -5,970
  -6,674
  -7,405
  -8,160
  -8,940
  -9,743
  -10,569
  -11,420
  -12,296
  -13,199
  -14,130
  -15,090
  -16,084
  -17,111
  -18,175
  -19,280
  -20,428
  -21,620
  -22,861
Free cash flow, $m
  0
  -16
  -11
  0
  18
  46
  85
  137
  204
  287
  387
  504
  641
  796
  971
  1,164
  1,375
  1,604
  1,850
  2,112
  2,392
  2,686
  2,997
  3,322
  3,662
  4,017
  4,387
  4,772
  5,172
  5,588
  6,020
Issuance/(repayment) of debt, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Issuance/(repurchase) of shares, $m
  0
  -528
  -689
  -877
  -1,089
  -1,325
  -1,579
  -1,849
  -2,131
  -2,421
  -2,715
  -3,009
  -3,302
  -3,590
  -3,873
  -4,149
  -4,419
  -4,683
  -4,941
  -5,194
  -5,444
  -5,693
  -5,941
  -6,191
  -6,445
  -6,703
  -6,968
  -7,242
  -7,526
  -7,821
  -8,129
Cash from financing (excl. dividends), $m  
  0
  -528
  -689
  -877
  -1,089
  -1,325
  -1,579
  -1,849
  -2,131
  -2,421
  -2,715
  -3,009
  -3,302
  -3,590
  -3,873
  -4,149
  -4,419
  -4,683
  -4,941
  -5,194
  -5,444
  -5,693
  -5,941
  -6,191
  -6,445
  -6,703
  -6,968
  -7,242
  -7,526
  -7,821
  -8,129
Total cash flow (excl. dividends), $m
  0
  -544
  -700
  -877
  -1,071
  -1,278
  -1,494
  -1,712
  -1,928
  -2,135
  -2,328
  -2,505
  -2,661
  -2,793
  -2,902
  -2,985
  -3,044
  -3,079
  -3,091
  -3,082
  -3,053
  -3,007
  -2,945
  -2,870
  -2,783
  -2,686
  -2,581
  -2,470
  -2,353
  -2,233
  -2,110
Retained Cash Flow (-), $m
  0
  528
  689
  877
  1,089
  1,325
  1,579
  1,849
  2,131
  2,421
  2,715
  3,009
  3,302
  3,590
  3,873
  4,149
  4,419
  4,683
  4,941
  5,194
  5,444
  5,693
  5,941
  6,191
  6,445
  6,703
  6,968
  7,242
  7,526
  7,821
  8,129
Prev. year cash balance distribution, $m
 
  1,222
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  10
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,206
  689
  877
  1,089
  1,325
  1,579
  1,849
  2,131
  2,421
  2,715
  3,009
  3,302
  3,590
  3,873
  4,149
  4,419
  4,683
  4,941
  5,194
  5,444
  5,693
  5,941
  6,191
  6,445
  6,703
  6,968
  7,242
  7,526
  7,821
  8,129
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  1,157
  631
  763
  897
  1,027
  1,146
  1,249
  1,332
  1,391
  1,423
  1,429
  1,409
  1,365
  1,300
  1,218
  1,123
  1,019
  910
  800
  692
  589
  493
  406
  328
  261
  203
  155
  116
  85
  61
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Century Communities, Inc. engages in homebuilding business in Atlanta, Central Texas, Colorado, Houston, Nevada, and Utah. It is involved in the development, design, construction, marketing, and sale of single-family attached and detached homes, as well as entitlement and development of land. The company sells homes through its sales representatives, as well as through independent real estate brokers. Century Communities, Inc. was founded in 2000 and is headquartered in Greenwood Village, Colorado.

FINANCIAL RATIOS  of  Century Communities (CCS)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

CCS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CCS stock intrinsic value calculation we used $1424 million for the last fiscal year's total revenue generated by Century Communities. The default revenue input number comes from income statement of Century Communities. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CCS stock valuation model: a) initial revenue growth rate of 43.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CCS is calculated based on our internal credit rating of Century Communities, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Century Communities.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CCS stock the variable cost ratio is equal to 92.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CCS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Century Communities.

Corporate tax rate of 27% is the nominal tax rate for Century Communities. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CCS stock is equal to 0.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CCS are equal to 97.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Century Communities operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CCS is equal to -68.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Century Communities - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 24 million for Century Communities is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Century Communities at the current share price and the inputted number of shares is $0.8 billion.

RELATED COMPANIES Price Int.Val. Rating
LGIH LGI Homes 59.91 1,110.29  str.buy
KBH KB Home 26.05 168.65  str.buy
LEN Lennar Cl A 54.68 113.93  str.buy
GRBK Green Brick Pa 10.00 2.08  str.sell
CHCI Comstock Holdi 2.60 82.35  str.buy
AVHI AV Homes 21.60 57.28  str.buy
TOL Toll Brothers 37.34 91.56  str.buy
DHI D.R. Horton 42.55 68.44  str.buy
HOV Hovnanian Ente 1.67 21.54  str.buy
TPH TRI Pointe Gro 16.62 49.05  str.buy

COMPANY NEWS

▶ There Are Numerous Ways to Play a Strong Dollar   [Jul-21-18 02:00PM  TheStreet.com]
▶ Greensboro builder sells remaining share to Colorado company   [Jul-02-18 07:30AM  American City Business Journals]
▶ No. 2 Atlanta homebuilder gets a new division president   [07:27AM  American City Business Journals]
▶ Crossword Cybersecurity Plc : AGM Statement   [May-30-18 02:29PM  GlobeNewswire]
▶ 5 Winning Stocks That Boast Solid Earnings Growth   [May-18-18 11:45AM  InvestorPlace]
▶ 5 Homebuilding Stocks With Solid Momentum Post Q1 Earnings   [May-14-18 03:35PM  InvestorPlace]
▶ Century Communities: 1Q Earnings Snapshot   [May-08-18 06:20PM  Associated Press]
▶ Several high-density for-sale projects in Charlotte hitting the home market   [May-04-18 03:03PM  American City Business Journals]
▶ Crossword Cybersecurity Plc : Notice of AGM   [02:02AM  GlobeNewswire]
▶ Crossword Cybersecurity Plc : Final Results   [Apr-26-18 08:44AM  GlobeNewswire]
▶ Local developer details 1,100 acre Far West Side community   [Apr-24-18 12:54PM  American City Business Journals]
▶ Crossword Cybersecurity Plc : Issue of Equity   [Apr-20-18 02:01AM  GlobeNewswire]
▶ Colorado homebuilder adding four new communities in San Antonio area   [Apr-04-18 02:32PM  American City Business Journals]
▶ Crossword Cybersecurity Plc : Issue of Equity   [Mar-19-18 03:01AM  GlobeNewswire]
▶ Toll Brothers beat on earnings but fall short on full year guidance   [Feb-27-18 10:53AM  Yahoo Finance Video]
▶ Century Communities tops Street 4Q forecasts   [Feb-13-18 05:55PM  Associated Press]
▶ Crossword Cybersecurity Plc : Trading Statement   [Feb-06-18 02:01AM  GlobeNewswire]
▶ Crossword Cybersecurity Plc : Appointment of CSO   [Feb-01-18 04:42AM  GlobeNewswire]
▶ Crossword Cybersecurity Plc : Directorate change   [Jan-23-18 10:40AM  GlobeNewswire]
▶ Crossword Cybersecurity Plc : Statement re grant of options   [Jan-08-18 12:05PM  GlobeNewswire]
▶ January Growth Stock Opportunities   [Jan-01-18 11:02AM  Simply Wall St.]
▶ Crossword Cybersecurity Plc : Director/PDMR Shareholding   [Dec-22-17 07:20AM  GlobeNewswire]
▶ Century Communities tops 3Q profit forecasts   [Nov-02-17 05:46PM  Associated Press]
▶ Colorado's Century Communities buys Seattle homebuilder   [Nov-01-17 06:13PM  American City Business Journals]
▶ New Strong Sell Stocks for October 18th   [Oct-18-17 10:44AM  Zacks]
▶ Century Communities to develop 239 townhouses near Arrowood Station   [Sep-21-17 07:45AM  American City Business Journals]
▶ Crossword Cybersecurity Plc : Half-yearly report   [Sep-07-17 02:02AM  GlobeNewswire]
Financial statements of CCS
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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