CalAtlantic Group, Inc. (NYSE:CAA) – Analysts at Wedbush lowered their Q3 2017 earnings estimates for CalAtlantic Group in a research report issued to clients and investors on Monday. Wedbush analyst J. Mccanless now expects that the construction company will earn $0.79 per share for the quarter, down from their previous forecast of $0.86. Wedbush has a “Ourperform” rating and a $41.00 price objective on the stock. Wedbush also issued estimates for CalAtlantic Group’s FY2017 earnings at $3.40 EPS, Q1 2018 earnings at $0.73 EPS and FY2018 earnings at $4.17 EPS.

CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings results on Thursday, July 27th. The construction company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.03). CalAtlantic Group had a return on equity of 11.40% and a net margin of 7.26%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company earned $0.83 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis.

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A number of other analysts also recently issued reports on CAA. BidaskClub raised shares of CalAtlantic Group from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Barclays PLC raised shares of CalAtlantic Group from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective for the company in a report on Tuesday, July 11th. JMP Securities raised shares of CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Friday, July 21st. KeyCorp reissued a “hold” rating on shares of CalAtlantic Group in a report on Friday, August 25th. Finally, ValuEngine downgraded shares of CalAtlantic Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $40.00.

CalAtlantic Group (NYSE CAA) opened at 39.46 on Wednesday. The company has a 50-day moving average of $36.61 and a 200 day moving average of $36.17. CalAtlantic Group has a 52-week low of $30.18 and a 52-week high of $39.49. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 10.86 and a beta of 1.42.

Several institutional investors have recently modified their holdings of CAA. Mengis Capital Management Inc. increased its position in CalAtlantic Group by 0.6% during the 2nd quarter. Mengis Capital Management Inc. now owns 25,899 shares of the construction company’s stock worth $915,000 after purchasing an additional 150 shares in the last quarter. Suntrust Banks Inc. increased its position in CalAtlantic Group by 3.2% during the 2nd quarter. Suntrust Banks Inc. now owns 9,496 shares of the construction company’s stock worth $334,000 after purchasing an additional 297 shares in the last quarter. Commerce Bank increased its position in CalAtlantic Group by 2.4% during the 2nd quarter. Commerce Bank now owns 14,002 shares of the construction company’s stock worth $495,000 after purchasing an additional 330 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in CalAtlantic Group by 1.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 33,704 shares of the construction company’s stock worth $1,191,000 after purchasing an additional 337 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in CalAtlantic Group by 1.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 32,483 shares of the construction company’s stock worth $1,148,000 after purchasing an additional 366 shares in the last quarter.

In other news, CEO Larry T. Nicholson sold 17,033 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $36.00, for a total transaction of $613,188.00. Following the completion of the sale, the chief executive officer now owns 594,600 shares of the company’s stock, valued at approximately $21,405,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 39.50% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Saturday, September 30th. Stockholders of record on Friday, September 15th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, September 14th. CalAtlantic Group’s dividend payout ratio (DPR) is presently 4.46%.

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.

Earnings History and Estimates for CalAtlantic Group (NYSE:CAA)

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