Equities research analysts expect CalAtlantic Group, Inc. (NYSE:CAA) to post $2.12 billion in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for CalAtlantic Group’s earnings. The highest sales estimate is $2.35 billion and the lowest is $1.94 billion. CalAtlantic Group posted sales of $1.95 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.7%. The company is expected to report its next quarterly earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that CalAtlantic Group will report full-year sales of $2.12 billion for the current financial year, with estimates ranging from $6.45 billion to $6.86 billion. For the next financial year, analysts anticipate that the company will post sales of $7.33 billion per share, with estimates ranging from $7.02 billion to $7.61 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover CalAtlantic Group.
CalAtlantic Group (NYSE:CAA) last posted its earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share 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 firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the company posted $0.97 EPS. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year.
Several research firms have recently weighed in on CAA. B. Riley reaffirmed a “neutral” rating on shares of CalAtlantic Group in a report on Wednesday, November 1st. Wedbush reiterated an “ourperform” rating and set a $41.00 price target on shares of CalAtlantic Group in a research report on Monday, July 31st. Mizuho downgraded shares of CalAtlantic Group from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research report on Monday. Credit Suisse Group upgraded shares of CalAtlantic Group from an “underperform” rating to a “neutral” rating and set a $32.00 price target on the stock in a research report on Tuesday, November 7th. Finally, JMP Securities upgraded shares of CalAtlantic Group from a “market perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Friday, July 21st. Fourteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $45.33.
Shares of CalAtlantic Group (NYSE:CAA) opened at $52.13 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 5.91 and a debt-to-equity ratio of 0.80. CalAtlantic Group has a fifty-two week low of $31.80 and a fifty-two week high of $52.73. The firm has a market cap of $5,716.43, a PE ratio of 15.33, a PEG ratio of 1.79 and a beta of 1.54.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 30th. Investors of record on Friday, December 15th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. CalAtlantic Group’s payout ratio is 4.75%.
In other news, CEO Larry T. Nicholson sold 100,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $37,121,050.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Larry T. Nicholson sold 17,033 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total transaction of $613,188.00. Following the transaction, the chief executive officer now directly owns 594,600 shares of the company’s stock, valued at $21,405,600. The disclosure for this sale can be found here. 39.50% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in shares of CalAtlantic Group in the third quarter valued at $1,062,000. Maltese Capital Management LLC bought a new position in shares of CalAtlantic Group in the third quarter valued at $5,795,000. California State Teachers Retirement System grew its stake in shares of CalAtlantic Group by 3.7% in the third quarter. California State Teachers Retirement System now owns 134,920 shares of the industrial goods maker’s stock valued at $4,942,000 after buying an additional 4,840 shares in the last quarter. KBC Group NV bought a new position in shares of CalAtlantic Group in the third quarter valued at $8,882,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of CalAtlantic Group by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 3,330,522 shares of the industrial goods maker’s stock valued at $121,995,000 after buying an additional 69,164 shares in the last quarter.
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About CalAtlantic Group
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