Brokers Offer Predictions for CalAtlantic Group Inc’s FY2018 Earnings (CAA)

CalAtlantic Group Inc (NYSE:CAA) – Equities researchers at B. Riley lifted their FY2018 earnings estimates for CalAtlantic Group in a research note issued to investors on Wednesday, according to Zacks Investment Research. B. Riley analyst A. Rygiel now anticipates that the industrial goods maker will earn $4.52 per share for the year, up from their previous forecast of $3.90. B. Riley currently has a “Neutral” rating on the stock.

A number of other research analysts also recently weighed in on CAA. Zacks Investment Research raised shares of CalAtlantic Group from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Tuesday. MKM Partners downgraded shares of CalAtlantic Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 31st. Wedbush downgraded shares of CalAtlantic Group from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $41.00 to $51.00 in a research report on Tuesday, October 31st. ValuEngine raised shares of CalAtlantic Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, UBS Group started coverage on shares of CalAtlantic Group in a research report on Wednesday, October 25th. They issued a “neutral” rating and a $42.00 price objective for the company. Fifteen research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. CalAtlantic Group presently has an average rating of “Hold” and a consensus target price of $48.40.

CalAtlantic Group (CAA) opened at $61.95 on Friday. The firm has a market cap of $7,235.20, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.71 and a beta of 1.59. CalAtlantic Group has a 12-month low of $32.47 and a 12-month high of $63.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.91 and a quick ratio of 0.29.

CalAtlantic Group (NYSE:CAA) last released its earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.07). The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. CalAtlantic Group had a net margin of 6.85% and a return on equity of 10.35%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the business posted $0.97 EPS.

Several hedge funds have recently made changes to their positions in CAA. Denali Advisors LLC acquired a new stake in CalAtlantic Group in the 3rd quarter worth about $769,000. BlueMountain Capital Management LLC raised its stake in CalAtlantic Group by 412.2% in the 2nd quarter. BlueMountain Capital Management LLC now owns 95,767 shares of the industrial goods maker’s stock worth $3,385,000 after purchasing an additional 77,068 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in CalAtlantic Group by 12.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 410,882 shares of the industrial goods maker’s stock worth $15,051,000 after purchasing an additional 45,164 shares in the last quarter. Legal & General Group Plc raised its stake in CalAtlantic Group by 27.1% in the 2nd quarter. Legal & General Group Plc now owns 69,004 shares of the industrial goods maker’s stock worth $2,439,000 after purchasing an additional 14,710 shares in the last quarter. Finally, LSV Asset Management raised its stake in CalAtlantic Group by 19.3% in the 2nd quarter. LSV Asset Management now owns 775,139 shares of the industrial goods maker’s stock worth $27,401,000 after purchasing an additional 125,664 shares in the last quarter.

In related news, COO Peter G. Skelly sold 20,382 shares of CalAtlantic Group stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $51.63, for a total transaction of $1,052,322.66. Following the completion of the sale, the chief operating officer now owns 174,159 shares of the company’s stock, valued at approximately $8,991,829.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Larry T. Nicholson sold 100,000 shares of CalAtlantic Group stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $51.94, for a total transaction of $5,194,000.00. Following the sale, the chief executive officer now directly owns 714,691 shares of the company’s stock, valued at approximately $37,121,050.54. The disclosure for this sale can be found here. Insiders have sold a total of 283,206 shares of company stock valued at $14,970,977 in the last ninety days. 39.50% of the stock is currently owned by insiders.

The business also recently announced a quarterly dividend, which was paid on Saturday, December 30th. Investors of record on Friday, December 15th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Thursday, December 14th. CalAtlantic Group’s payout ratio is 4.75%.

TRADEMARK VIOLATION WARNING: “Brokers Offer Predictions for CalAtlantic Group Inc’s FY2018 Earnings (CAA)” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://ledgergazette.com/2018/01/13/b-riley-equities-analysts-lift-earnings-estimates-for-calatlantic-group-inc-caa.html.

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.

Get a free copy of the Zacks research report on CalAtlantic Group (CAA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CalAtlantic Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAtlantic Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply