CA, Inc. (CA) Upgraded by Hovde Group to Outperform
CA, Inc. (NYSE:CA) was upgraded by analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research note issued on Saturday. The brokerage currently has a $26.00 target price on the stock, up from their previous target price of $24.75. Hovde Group’s price target would suggest a potential downside of 21.16% from the company’s current price.
Other equities analysts also recently issued reports about the stock. Mizuho downgraded shares of CA from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Thursday, July 14th. Barclays PLC downgraded shares of CA from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $33.00 to $35.00 in a report on Friday, July 15th. Citigroup Inc. lifted their price target on shares of CA from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. Jefferies Group lifted their price target on shares of CA from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research upgraded shares of CA from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Monday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. CA has an average rating of “Hold” and a consensus price target of $34.14.
CA (NYSE:CA) opened at 32.98 on Friday. The firm has a market capitalization of $13.82 billion and a price-to-earnings ratio of 18.32. CA has a one year low of $25.18 and a one year high of $34.99. The stock has a 50 day moving average of $33.30 and a 200 day moving average of $32.44.
CA (NYSE:CA) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company earned $999 million during the quarter, compared to analyst estimates of $982.21 million. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts forecast that CA will post $2.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Thursday, August 25th were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.09%. This is an increase from CA’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, August 23rd.
A number of large investors have recently added to or reduced their stakes in CA. Oregon Public Employees Retirement Fund increased its stake in CA by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 64,654 shares of the company’s stock worth $2,123,000 after buying an additional 497 shares during the last quarter. Alambic Investment Management L.P. bought a new stake in CA during the second quarter worth about $407,000. Assetmark Inc. bought a new stake in CA during the second quarter worth about $505,000. Aspen Investment Management Inc increased its stake in CA by 17.5% in the second quarter. Aspen Investment Management Inc now owns 12,420 shares of the company’s stock worth $408,000 after buying an additional 1,850 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in CA by 16.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 446,807 shares of the company’s stock worth $14,669,000 after buying an additional 61,931 shares during the last quarter.
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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