$2.05 Billion in Sales Expected for CalAtlantic Group Inc (CAA) This Quarter

Analysts forecast that CalAtlantic Group Inc (NYSE:CAA) will post sales of $2.05 billion for the current quarter, Zacks reports. Five analysts have provided estimates for CalAtlantic Group’s earnings, with the highest sales estimate coming in at $2.14 billion and the lowest estimate coming in at $1.89 billion. CalAtlantic Group reported sales of $1.95 billion in the same quarter last year, which would suggest a positive year over year growth rate of 5.1%. The firm is expected to report its next quarterly earnings report on Wednesday, February 14th.

According to Zacks, analysts expect that CalAtlantic Group will report full year sales of $2.05 billion for the current year, with estimates ranging from $6.37 billion to $6.68 billion. For the next financial year, analysts forecast that the firm will post sales of $7.26 billion per share, with estimates ranging from $6.84 billion to $7.61 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow CalAtlantic Group.

CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings data on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the company earned $0.97 EPS. The firm’s revenue was down 9.0% on a year-over-year basis.

Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of CalAtlantic Group from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Credit Suisse Group reissued a “neutral” rating and set a $63.00 price objective (up previously from $51.00) on shares of CalAtlantic Group in a research report on Monday, January 22nd. They noted that the move was a valuation call. Mizuho set a $64.00 price objective on shares of CalAtlantic Group and gave the stock a “hold” rating in a research report on Thursday, January 18th. UBS Group increased their price objective on shares of CalAtlantic Group from $55.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Finally, Zacks Investment Research raised shares of CalAtlantic Group from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, January 9th. Fourteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $53.60.

Shares of CalAtlantic Group (CAA) traded down $0.30 during mid-day trading on Friday, hitting $52.71. 1,296,924 shares of the stock traded hands, compared to its average volume of 1,505,476. 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 company has a market capitalization of $6,159.27, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45.

In related news, CFO Jeffrey Joseph Mccall sold 65,000 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $55.27, for a total value of $3,592,550.00. Following the completion of the transaction, the chief financial officer now owns 178,519 shares of the company’s stock, valued at $9,866,745.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John Patrick Babel sold 12,000 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $52.48, for a total transaction of $629,760.00. Following the completion of the sale, the executive vice president now owns 33,603 shares of the company’s stock, valued at approximately $1,763,485.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 283,206 shares of company stock valued at $14,970,977. 39.50% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Suntrust Banks Inc. lifted its stake in CalAtlantic Group by 3.2% in the second quarter. Suntrust Banks Inc. now owns 9,496 shares of the industrial goods maker’s stock valued at $334,000 after acquiring an additional 297 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in CalAtlantic Group by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 33,704 shares of the industrial goods maker’s stock valued at $1,191,000 after acquiring an additional 337 shares during the last quarter. Capital Analysts LLC lifted its stake in CalAtlantic Group by 4.4% in the third quarter. Capital Analysts LLC now owns 25,982 shares of the industrial goods maker’s stock valued at $952,000 after acquiring an additional 1,095 shares during the last quarter. Vantage Financial Partners Ltd. Inc. lifted its stake in CalAtlantic Group by 15.9% in the fourth quarter. Vantage Financial Partners Ltd. Inc. now owns 8,000 shares of the industrial goods maker’s stock valued at $452,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in CalAtlantic Group by 2.7% in the third quarter. Great West Life Assurance Co. Can now owns 48,075 shares of the industrial goods maker’s stock valued at $1,740,000 after acquiring an additional 1,266 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “$2.05 Billion in Sales Expected for CalAtlantic Group Inc (CAA) This Quarter” was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/02/10/2-05-billion-in-sales-expected-for-calatlantic-group-inc-caa-this-quarter.html.

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.

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