CA, Inc. (CA) Upgraded by Hovde Group to Outperform
CA, Inc. (NYSE:CA) was upgraded by Hovde Group from a “market perform” rating to an “outperform” rating in a report released on Saturday. The brokerage currently has a $26.00 target price on the stock, up from their prior target price of $24.75. Hovde Group’s price objective suggests a potential downside of 21.16% from the stock’s previous close.
Other equities analysts have also issued reports about the company. Barclays PLC lowered CA from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $33.00 to $35.00 in a research report on Friday, July 15th. Jefferies Group upped their target price on CA from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Citigroup Inc. upped their target price on CA from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, July 28th. Mizuho lowered CA from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Thursday, July 14th. Finally, Zacks Investment Research raised CA from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Monday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. CA has a consensus rating of “Hold” and an average price target of $34.14.
CA (NYSE:CA) opened at 32.98 on Friday. The firm’s 50-day moving average is $33.30 and its 200-day moving average is $32.44. CA has a 52-week low of $25.18 and a 52-week high of $34.99. The firm has a market capitalization of $13.82 billion and a P/E ratio of 18.32.
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CA (NYSE:CA) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business earned $999 million during the quarter, compared to analyst estimates of $982.21 million. During the same period last year, the firm posted $0.64 earnings per share. CA’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts expect that CA will post $2.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Thursday, August 25th were given a $0.255 dividend. This is a positive change from CA’s previous quarterly dividend of $0.25. This represents a $1.02 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Tuesday, August 23rd.
Large investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its stake in CA by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 64,654 shares of the company’s stock worth $2,123,000 after buying an additional 497 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in shares of CA during the second quarter worth about $407,000. Assetmark Inc. acquired a new position in shares of CA during the second quarter worth about $505,000. Aspen Investment Management Inc increased its position in shares of CA by 17.5% in the second quarter. Aspen Investment Management Inc now owns 12,420 shares of the company’s stock worth $408,000 after buying an additional 1,850 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in shares of CA by 16.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 446,807 shares of the company’s stock worth $14,669,000 after buying an additional 61,931 shares during the period.
CA Company Profile
CA, Inc (CA) is engaged in providing software solutions enabling customers to plan, develop, manage and secure applications and enterprise environments across distributed, cloud, mobile and mainframe platforms. The Company operates through three business segments: Mainframe Solutions, Enterprise Solutions and Services.
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