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%.
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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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