CA’s “Neutral” Rating Reaffirmed at Zacks (CA)
CA (NYSE:CA)‘s stock had its “neutral” rating restated by Zacks in a report released on Thursday. They currently have a $30.00 target price on the stock. Zacks‘s target price indicates a potential upside of 5.56% from the company’s current price.
Zacks’ analyst wrote, “CA reported mixed first-quarter results wherein the bottom line beat the Zacks Consensus Estimate but the top line fell short of the same. The year-over-year comparisons were not favorable either. CA’s major revenue generating segments were adversely affected primarily due to lower-than-expected sales of new products in the quarter. The company also provided modest outlook for fiscal 2015. Nonetheless, we believe that the breadth of its products and the increased efficiency offered by them will help attract customers across sectors, lending stability to the business model. We are positive about CA’s increased cloud exposure. A decent renewal rate, modest cash position and share repurchase also appear encouraging. On the other hand, increasing competition from IBM and Hewlett Packard and exposure to Europe remain the near-term headwinds. Thus, we reiterate our Neutral recommendation on the stock.”
A number of other firms have also recently commented on CA. Analysts at FBR Capital Markets initiated coverage on shares of CA in a research note on Wednesday, July 16th. They set a “market perform” rating and a $31.00 price target on the stock. Separately, analysts at Standpoint Research initiated coverage on shares of CA in a research note on Monday, June 30th. They set a “buy” rating and a $36.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of CA in a research note on Monday, May 19th. They now have a $30.00 price target on the stock, down previously from $32.00. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.89.
CA (NYSE:CA) traded down 0.39% on Thursday, hitting $28.31. The stock had a trading volume of 1,102,629 shares. CA has a 52 week low of $27.84 and a 52 week high of $36.22. The stock’s 50-day moving average is $28.68 and its 200-day moving average is $30.23. The company has a market cap of $12.600 billion and a P/E ratio of 15.98.
CA (NYSE:CA) last announced its earnings results on Wednesday, July 23rd. The company reported $0.65 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was down 49.0% on a year-over-year basis. On average, analysts predict that CA will post $2.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 9th. Investors of record on Thursday, August 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Tuesday, August 19th.
CA, Inc (NYSE:CA) is an independent enterprise information technology (IT) management software and solutions company.
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