FBR & Co Comments on CalAtlantic Group Inc.’s Q3 2016 Earnings (CAA)
CalAtlantic Group Inc. (NYSE:CAA) – Investment analysts at FBR & Co issued their Q3 2016 earnings per share (EPS) estimates for shares of CalAtlantic Group in a research report issued on Tuesday. FBR & Co analyst A. Rygiel anticipates that the firm will earn $0.93 per share 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.
Several other equities analysts also recently commented on CAA. Zacks Investment Research downgraded CalAtlantic Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 27th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $43.00 price objective (down previously from $48.00) on shares of CalAtlantic Group in a research report on Monday, August 1st. TheStreet raised CalAtlantic Group from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of CalAtlantic Group in a research report on Tuesday, July 12th. Finally, JMP Securities reaffirmed a “hold” rating on shares of CalAtlantic Group in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $42.69.
Shares of CalAtlantic Group (NYSE:CAA) opened at 33.44 on Thursday. The firm’s 50-day moving average is $35.35 and its 200 day moving average is $35.56. The stock has a market capitalization of $3.96 billion, a P/E ratio of 13.25 and a beta of 1.49. CalAtlantic Group has a 12-month low of $26.97 and a 12-month high of $43.24.
CalAtlantic Group (NYSE:CAA) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.58. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $126.24 million. CalAtlantic Group had a net margin of 5.86% and a return on equity of 11.24%. CalAtlantic Group’s revenue for the quarter was up 124.4% on a year-over-year basis.
Several large investors have recently modified their holdings of the company. Sanders Capital LLC boosted its stake 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 period. Fisher Asset Management LLC boosted its stake 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 period. BlackRock Institutional Trust Company N.A. boosted its stake 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 period. FMR LLC boosted its stake 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 period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake 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 period.
In related news, CMO Wendy L. Marlett sold 18,000 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $34.51, for a total transaction of $621,180.00. Following the completion of the sale, the chief marketing officer now directly owns 54,396 shares in the company, valued at approximately $1,877,205.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 37.80% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Tuesday, September 13th. CalAtlantic Group’s dividend payout ratio (DPR) 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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