$1.21 Earnings Per Share Expected for CalAtlantic Group Inc (CAA) This Quarter

Brokerages forecast that CalAtlantic Group Inc (NYSE:CAA) will report $1.21 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for CalAtlantic Group’s earnings. The lowest EPS estimate is $0.64 and the highest is $1.33. CalAtlantic Group reported earnings of $1.26 per share during the same quarter last year, which would suggest a negative year over year growth rate of 4%. The firm is expected to issue its next quarterly earnings report 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 financial year, with EPS estimates ranging from $2.73 to $3.44. For the next fiscal year, analysts anticipate that the company will post earnings of $4.44 per share, with EPS estimates ranging from $3.89 to $5.30. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow CalAtlantic Group.

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

A number of brokerages have weighed in on CAA. ValuEngine raised 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 target (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 target on CalAtlantic Group and gave the stock a “hold” rating in a research report on Thursday, January 18th. UBS Group boosted their price target 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, Zacks Investment Research upgraded CalAtlantic Group from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Tuesday, January 9th. Fourteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. CalAtlantic Group currently has an average rating of “Hold” and an average target price of $53.60.

CalAtlantic Group (CAA) opened at $54.62 on Thursday. The firm has a market capitalization of $6,030.00 and a P/E ratio of 16.21. The company has a current ratio of 5.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.80. CalAtlantic Group has a 12-month low of $32.47 and a 12-month high of $64.60.

In other news, CEO Larry T. Nicholson sold 100,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $51.94, for a total transaction of $5,194,000.00. Following the completion of the transaction, the chief executive officer now directly owns 714,691 shares in the company, valued at $37,121,050.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey Joseph Mccall sold 65,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 178,519 shares of the company’s stock, valued at $9,866,745.13. The disclosure for this sale can be found here. Insiders have sold 283,206 shares of company stock valued at $14,970,977 over the last quarter. Company insiders own 39.50% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Suntrust Banks Inc. increased its holdings 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 purchasing an additional 297 shares during the period. Public Employees Retirement System of Ohio increased its holdings 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 purchasing an additional 337 shares during the period. Capital Analysts LLC increased its holdings 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 purchasing an additional 1,095 shares during the period. Great West Life Assurance Co. Can increased its holdings 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 purchasing an additional 1,266 shares during the period. Finally, Amalgamated Bank increased its holdings in CalAtlantic Group by 10.0% in the third quarter. Amalgamated Bank now owns 15,337 shares of the industrial goods maker’s stock valued at $562,000 after purchasing an additional 1,391 shares during the period. Institutional investors own 93.79% of the company’s stock.

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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.

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