FBR & Co Comments on CalAtlantic Group Inc.’s Q3 2016 Earnings (CAA)
CalAtlantic Group Inc. (NYSE:CAA) – Analysts at FBR & Co issued their Q3 2016 earnings per share estimates for CalAtlantic Group in a research note issued to investors on Tuesday. FBR & Co analyst A. Rygiel forecasts that the brokerage will post earnings per share of $0.93 for the quarter. FBR & Co has a “Marketperform” rating on the stock. FBR & Co also issued estimates for CalAtlantic Group’s Q4 2016 earnings at $1.32 EPS, FY2016 earnings at $3.60 EPS, Q1 2017 earnings at $0.67 EPS, Q2 2017 earnings at $0.91 EPS, Q3 2017 earnings at $1.22 EPS, Q4 2017 earnings at $1.54 EPS and FY2017 earnings at $4.35 EPS.
A number of other equities research analysts also recently issued reports on CAA. JPMorgan Chase & Co. reissued a “buy” rating on shares of CalAtlantic Group in a report on Friday, June 10th. Janney Montgomery Scott raised shares of CalAtlantic Group to a “neutral” rating in a report on Monday, June 20th. JMP Securities reissued a “hold” rating on shares of CalAtlantic Group in a report on Wednesday, June 29th. Credit Suisse Group AG reissued a “buy” rating and issued a $40.00 price target on shares of CalAtlantic Group in a report on Wednesday, June 29th. Finally, MKM Partners raised shares of CalAtlantic Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $38.00 to $47.00 in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.69.
Shares of CalAtlantic Group (NYSE:CAA) opened at 33.44 on Thursday. The company has a 50-day moving average of $35.35 and a 200-day moving average of $35.56. CalAtlantic Group has a 1-year low of $26.97 and a 1-year high of $43.24. The company has a market cap of $3.96 billion, a PE ratio of 13.25 and a beta of 1.49.
CalAtlantic Group (NYSE:CAA) last posted its earnings results on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.58. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $126.24 million. CalAtlantic Group had a net margin of 5.86% and a return on equity of 11.24%. The company’s revenue was up 124.4% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sanders Capital LLC boosted its position in shares of CalAtlantic Group by 5.4% in the second quarter. Sanders Capital LLC now owns 3,493,615 shares of the company’s stock worth $130,888,000 after buying an additional 178,427 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of CalAtlantic Group by 1.8% in the second quarter. Fisher Asset Management LLC now owns 2,272,453 shares of the company’s stock worth $91,216,000 after buying an additional 40,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of CalAtlantic Group by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,224,143 shares of the company’s stock worth $74,331,000 after buying an additional 47,652 shares during the last quarter. FMR LLC boosted its position in shares of CalAtlantic Group by 13.9% in the second quarter. FMR LLC now owns 1,925,063 shares of the company’s stock worth $70,669,000 after buying an additional 234,907 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of CalAtlantic Group by 4.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,620,035 shares of the company’s stock worth $59,472,000 after buying an additional 70,031 shares during the last quarter.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $34.51, for a total transaction of $621,180.00. Following the transaction, the chief marketing officer now directly owns 54,396 shares in the company, valued at $1,877,205.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 37.80% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Tuesday, September 13th. CalAtlantic Group’s payout ratio is currently 6.40%.
About CalAtlantic Group
CalAtlantic Group, Inc, formerly Standard Pacific Corp., is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.
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