Zacks: Brokerages Anticipate CA Inc. (CA) Will Announce Quarterly Sales of $1.05 Billion
Equities analysts expect that CA Inc. (NASDAQ:CA) will report sales of $1.05 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for CA’s earnings, with the highest sales estimate coming in at $1.06 billion and the lowest estimate coming in at $1.04 billion. CA posted sales of $1.02 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The business is scheduled to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that CA will report full year sales of $1.05 billion for the current fiscal year, with estimates ranging from $4.20 billion to $4.22 billion. For the next financial year, analysts expect that the firm will post sales of $4.29 billion per share, with estimates ranging from $4.24 billion to $4.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow CA.
CA (NASDAQ:CA) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.55 by $0.06. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. CA had a return on equity of 16.54% and a net margin of 18.59%. During the same quarter in the prior year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis.
CA has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating and set a $38.00 price objective on shares of CA in a research report on Friday, April 28th. Barclays PLC restated an “equal weight” rating and set a $36.00 price objective (up previously from $35.00) on shares of CA in a research report on Thursday, August 3rd. Zacks Investment Research upgraded CA from a “sell” rating to a “hold” rating and set a $38.00 price objective on the stock in a research report on Tuesday, July 11th. Mizuho restated a “hold” rating and set a $34.00 price objective on shares of CA in a research report on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of CA in a research report on Friday, May 12th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $35.09.
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In other CA news, insider Ayman Sayed sold 12,920 shares of CA stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $32.19, for a total transaction of $415,894.80. Following the transaction, the insider now directly owns 114,422 shares of the company’s stock, valued at approximately $3,683,244.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Elster sold 166,621 shares of CA stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $32.26, for a total value of $5,375,193.46. Following the transaction, the insider now directly owns 251,356 shares in the company, valued at $8,108,744.56. The disclosure for this sale can be found here. Insiders have sold a total of 228,666 shares of company stock worth $7,481,319 over the last ninety days. Company insiders own 0.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CA. Vanguard Group Inc. increased its position in shares of CA by 22.3% in the second quarter. Vanguard Group Inc. now owns 32,166,860 shares of the technology company’s stock worth $1,108,792,000 after buying an additional 5,855,217 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of CA by 11.1% in the second quarter. Bank of New York Mellon Corp now owns 27,003,706 shares of the technology company’s stock worth $930,816,000 after buying an additional 2,691,791 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of CA by 2.1% in the first quarter. Macquarie Group Ltd. now owns 23,725,398 shares of the technology company’s stock worth $752,570,000 after buying an additional 479,924 shares in the last quarter. BlackRock Inc. increased its position in shares of CA by 1.5% in the second quarter. BlackRock Inc. now owns 21,017,338 shares of the technology company’s stock worth $724,466,000 after buying an additional 300,439 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of CA by 1.0% in the first quarter. Bank of America Corp DE now owns 15,719,102 shares of the technology company’s stock worth $498,611,000 after buying an additional 154,092 shares in the last quarter. 71.09% of the stock is currently owned by hedge funds and other institutional investors.
CA (NASDAQ CA) opened at 32.37 on Friday. CA has a 52 week low of $30.01 and a 52 week high of $36.54. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 17.98 and a beta of 0.86. The stock’s 50 day moving average price is $33.21 and its 200 day moving average price is $32.45.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 3.15%. The ex-dividend date is Tuesday, August 22nd. CA’s payout ratio is presently 56.67%.
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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