CA Tech Receives Neutral Rating from Zacks (CA)
CA Tech (NYSE: CA)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Monday. They currently have a $26.00 target price on the stock.
Zacks‘ analyst wrote, “CA Inc.’s third-quarter results surpassed the Zacks Consensus Estimate although the guidance looks overly-optimistic, given the order pull-ins. However, we are positive about the company’s increased cloud exposure, for which it was declared market leader in cloud systems management by IDC. Therefore, growing cloud opportunities, as reflected in a strong renewal rate, steady share buybacks and dividends make us positive about the shares. On the other hand, the increasing competition and exposure to Europe remain concerns. We have a Neutral recommendation on CA. “
CA Tech traded up 0.08% on Monday, hitting $25.10. CA Tech has a 52-week low of $21.48 and a 52-week high of $28.00. The stock’s 50-day moving average is currently $24.80. The company has a market cap of $11.444 billion and a price-to-earnings ratio of 12.75.
CA Tech last released its earnings data on Tuesday, January 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. CA Tech has set its FY13 guidance at $2.36-2.44 EPS. On average, analysts predict that CA Tech will post $2.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, March 19th. Stockholders of record on Thursday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, February 19th.
CA, Inc. (CA) is an independent enterprise information technology (IT) management software and solutions company.
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