Zacks: Analysts Anticipate CalAtlantic Group Inc (CAA) to Announce $1.21 Earnings Per Share

Brokerages expect CalAtlantic Group Inc (NYSE:CAA) to report earnings of $1.21 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for CalAtlantic Group’s earnings. The highest EPS estimate is $1.33 and the lowest is $0.64. CalAtlantic Group posted earnings of $1.26 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 4%. The firm is scheduled to report its next earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that CalAtlantic Group will report full-year earnings of $3.30 per share for the current year, with EPS estimates ranging from $2.73 to $3.44. For the next fiscal year, analysts forecast that the company will post earnings of $4.44 per share, with EPS estimates ranging from $3.89 to $5.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover CalAtlantic Group.

CalAtlantic Group (NYSE:CAA) last issued its earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.07). CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The business’s revenue for the quarter was down 9.0% on a year-over-year basis.

Several brokerages have weighed in on CAA. B. Riley reaffirmed a “neutral” rating on shares of CalAtlantic Group in a research report on Wednesday, November 1st. Zacks Investment Research raised CalAtlantic Group from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Tuesday, January 9th. Wedbush lowered CalAtlantic Group from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $41.00 to $51.00 in a research report on Tuesday, October 31st. UBS Group upped their target price on CalAtlantic Group from $55.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Finally, JMP Securities lowered CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research report on Monday, October 30th. Fourteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. CalAtlantic Group presently has an average rating of “Hold” and an average target price of $53.60.

CalAtlantic Group (NYSE CAA) opened at $54.62 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.91 and a quick ratio of 0.29. CalAtlantic Group has a 52-week low of $32.47 and a 52-week high of $64.60. The firm has a market capitalization of $6,030.00 and a PE ratio of 16.21.

In other news, CFO Jeffrey Joseph Mccall sold 65,000 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $55.27, for a total transaction of $3,592,550.00. Following the completion of the sale, the chief financial officer now owns 178,519 shares in the company, valued at approximately $9,866,745.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William L. Jews sold 7,482 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $51.52, for a total value of $385,472.64. Following the sale, the director now owns 41,717 shares of the company’s stock, valued at approximately $2,149,259.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 283,206 shares of company stock valued at $14,970,977. 39.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. P Schoenfeld Asset Management LP bought a new stake in shares of CalAtlantic Group during the 4th quarter worth about $21,208,000. Doyle Wealth Management bought a new stake in shares of CalAtlantic Group during the 4th quarter worth about $226,000. RWC Asset Management LLP boosted its stake in shares of CalAtlantic Group by 10.8% during the 4th quarter. RWC Asset Management LLP now owns 258,016 shares of the industrial goods maker’s stock worth $14,550,000 after acquiring an additional 25,116 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of CalAtlantic Group by 11.2% during the 4th quarter. California Public Employees Retirement System now owns 138,955 shares of the industrial goods maker’s stock worth $7,836,000 after acquiring an additional 14,042 shares in the last quarter. Finally, Shelton Capital Management bought a new stake in shares of CalAtlantic Group during the 4th quarter worth about $294,000. Institutional investors own 93.79% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://www.americanbankingnews.com/2018/02/08/zacks-analysts-anticipate-calatlantic-group-inc-caa-to-announce-1-21-earnings-per-share.html.

CalAtlantic Group Company Profile

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.

Get a free copy of the Zacks research report on CalAtlantic Group (CAA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CalAtlantic Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAtlantic Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply