CalAtlantic Group, Inc. (NYSE:CAA) – Equities researchers at Wedbush upped their Q4 2017 EPS estimates for shares of CalAtlantic Group in a note issued to investors on Thursday. Wedbush analyst J. Mccanless now expects that the construction company will post earnings per share of $1.33 for the quarter, up from their prior forecast of $1.28. Wedbush currently has a “Neutral” rating and a $51.00 target price on the stock. Wedbush also issued estimates for CalAtlantic Group’s Q4 2018 earnings at $1.38 EPS.
A number of other equities research analysts have also recently weighed in on CAA. B. Riley reaffirmed a “neutral” rating on shares of CalAtlantic Group in a report on Wednesday, November 1st. Mizuho set a $51.00 price target on CalAtlantic Group and gave the company a “buy” rating in a report on Wednesday, November 1st. UBS AG raised their price target on CalAtlantic Group from $42.00 to $55.00 and gave the company a “neutral” rating in a report on Friday. Barclays PLC raised their price target on CalAtlantic Group from $35.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, MKM Partners cut CalAtlantic Group from a “buy” rating to a “neutral” rating in a report on Tuesday, October 31st. Thirteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $45.10.
Shares of CalAtlantic Group (CAA) opened at $51.97 on Friday. CalAtlantic Group has a twelve month low of $31.19 and a twelve month high of $52.73. The firm has a market capitalization of $5,750.63, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.84 and a beta of 1.54. The company has a current ratio of 5.91, a quick ratio of 0.51 and a debt-to-equity ratio of 0.80.
CalAtlantic Group (NYSE:CAA) last released its quarterly earnings results on Wednesday, November 8th. The construction company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). CalAtlantic Group had a net margin of 6.85% and a return on equity of 10.35%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the business earned $0.97 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 30th. Shareholders of record on Friday, December 15th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. CalAtlantic Group’s payout ratio is 4.75%.
In other CalAtlantic Group news, CEO Larry T. Nicholson sold 17,033 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total value of $613,188.00. Following the transaction, the chief executive officer now directly owns 594,600 shares in the company, valued at approximately $21,405,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 39.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CAA. Thompson Davis & CO. Inc. bought a new position in CalAtlantic Group in the 2nd quarter valued at $138,000. Canada Pension Plan Investment Board bought a new position in CalAtlantic Group in the 2nd quarter valued at $154,000. Riverhead Capital Management LLC boosted its position in CalAtlantic Group by 71.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,387 shares of the construction company’s stock valued at $155,000 after buying an additional 1,827 shares during the last quarter. LS Investment Advisors LLC boosted its position in CalAtlantic Group by 16.4% in the 2nd quarter. LS Investment Advisors LLC now owns 6,095 shares of the construction company’s stock valued at $215,000 after buying an additional 859 shares during the last quarter. Finally, Sciencast Management LP bought a new position in CalAtlantic Group in the 2nd quarter valued at $222,000.
CalAtlantic Group Company Profile
CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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