CalAtlantic Group Inc. (NYSE:CAA) – Research analysts at Wedbush issued their Q3 2016 EPS estimates for shares of CalAtlantic Group in a research note issued on Monday. Wedbush analyst J. Mccanless anticipates that the brokerage will post earnings per share of $0.89 for the quarter. Wedbush currently has a “Outperform” rating and a $44.00 target price on the stock. Wedbush also issued estimates for CalAtlantic Group’s Q4 2016 earnings at $1.17 EPS, FY2016 earnings at $3.41 EPS, Q1 2017 earnings at $0.65 EPS, Q2 2017 earnings at $0.92 EPS, Q3 2017 earnings at $1.09 EPS, Q4 2017 earnings at $1.34 EPS and FY2017 earnings at $4.00 EPS.
Several other equities analysts also recently commented on the company. MKM Partners upgraded CalAtlantic Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $47.00 in a research report on Monday, July 11th. Bank of America Corp. upgraded CalAtlantic Group from an “underperform” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Friday, August 12th. Zacks Investment Research downgraded CalAtlantic Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Credit Suisse Group AG restated a “buy” rating and issued a $40.00 price objective on shares of CalAtlantic Group in a research report on Wednesday, June 29th. Finally, RBC Capital Markets initiated coverage on CalAtlantic Group in a research report on Tuesday, July 19th. They issued a “buy” rating and a $48.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. CalAtlantic Group presently has a consensus rating of “Buy” and an average target price of $42.69.
Shares of CalAtlantic Group (NYSE:CAA) opened at 34.17 on Wednesday. CalAtlantic Group has a 12-month low of $26.97 and a 12-month high of $43.45. The firm has a 50-day moving average price of $35.75 and a 200 day moving average price of $35.45. The stock has a market cap of $4.05 billion, a PE ratio of 13.54 and a beta of 1.49.
CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.58. CalAtlantic Group had a return on equity of 11.24% and a net margin of 5.86%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $126.24 million. The firm’s revenue was up 124.4% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.47%. CalAtlantic Group’s dividend payout ratio is 6.40%.
In other news, CMO Wendy L. Marlett sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $34.51, for a total transaction of $621,180.00. Following the transaction, the chief marketing officer now owns 54,396 shares of the company’s stock, valued at $1,877,205.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 37.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in shares of CalAtlantic Group during the second quarter worth about $113,000. Fifth Third Bancorp purchased a new stake in shares of CalAtlantic Group during the second quarter worth about $166,000. LS Investment Advisors LLC raised its stake in shares of CalAtlantic Group by 63.5% in the second quarter. LS Investment Advisors LLC now owns 4,564 shares of the company’s stock worth $168,000 after buying an additional 1,772 shares during the last quarter. Gray Financial Group GA ADV ADV purchased a new stake in shares of CalAtlantic Group during the second quarter worth about $216,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of CalAtlantic Group during the second quarter worth about $220,000.
CalAtlantic Group Company Profile
CalAtlantic Group, Inc, formerly Standard Pacific Corp., is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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