CalAtlantic Group Inc (NYSE:CAA) – Equities researchers at B. Riley dropped their FY2017 EPS estimates for CalAtlantic Group in a research note issued on Wednesday. B. Riley analyst A. Rygiel now forecasts that the industrial goods maker will earn $3.34 per share for the year, down from their previous estimate of $3.40. B. Riley currently has a “Neutral” rating on the stock. B. Riley also issued estimates for CalAtlantic Group’s Q4 2017 earnings at $1.25 EPS.
CalAtlantic Group (NYSE:CAA) last released its quarterly earnings data on Wednesday, November 8th. The industrial goods maker reported $0.75 EPS for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $1.55 billion. During the same quarter last year, the business earned $0.97 EPS. CalAtlantic Group’s revenue for the quarter was down 9.0% compared to the same quarter last year.
CAA has been the subject of several other research reports. Wedbush increased their price objective on shares of CalAtlantic Group from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, December 29th. Barclays increased their price objective on shares of CalAtlantic Group from $35.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. ValuEngine upgraded shares of CalAtlantic Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. MKM Partners lowered shares of CalAtlantic Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 31st. Finally, Mizuho began coverage on shares of CalAtlantic Group in a research report on Thursday, October 26th. They set a “buy” rating and a $45.00 price objective for the company. Fifteen equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $46.33.
CalAtlantic Group (CAA) opened at $60.42 on Thursday. CalAtlantic Group has a 12-month low of $32.47 and a 12-month high of $60.49. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.29 and a current ratio of 5.91. The company has a market cap of $6,631.10, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.59.
The company also recently announced a quarterly dividend, which was paid on Saturday, December 30th. Stockholders of record on Friday, December 15th were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.26%. CalAtlantic Group’s dividend payout ratio (DPR) is presently 4.75%.
In other news, CFO Jeffrey Joseph Mccall sold 65,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $55.27, for a total value of $3,592,550.00. Following the completion of the sale, the chief financial officer now owns 178,519 shares in the company, valued at approximately $9,866,745.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Patrick Babel sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $52.48, for a total transaction of $629,760.00. Following the completion of the sale, the executive vice president now owns 33,603 shares of the company’s stock, valued at approximately $1,763,485.44. The disclosure for this sale can be found here. Insiders sold a total of 283,206 shares of company stock valued at $14,970,977 in the last 90 days. Company insiders own 39.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CAA. Donald Smith & CO. Inc. purchased a new position in CalAtlantic Group in the 3rd quarter worth about $64,178,000. Balyasny Asset Management LLC increased its stake in CalAtlantic Group by 515.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,261,045 shares of the industrial goods maker’s stock worth $44,578,000 after buying an additional 1,056,155 shares during the period. JPMorgan Chase & Co. increased its stake in CalAtlantic Group by 283.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,189,005 shares of the industrial goods maker’s stock worth $43,054,000 after buying an additional 879,180 shares during the period. FMR LLC increased its stake in CalAtlantic Group by 3.8% in the 2nd quarter. FMR LLC now owns 10,812,739 shares of the industrial goods maker’s stock worth $382,230,000 after buying an additional 400,103 shares during the period. Finally, BlackRock Inc. increased its stake in CalAtlantic Group by 4.0% in the 2nd quarter. BlackRock Inc. now owns 7,319,210 shares of the industrial goods maker’s stock worth $258,732,000 after buying an additional 283,517 shares during the period.
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About CalAtlantic Group
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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