KeyCorp Weighs in on CalAtlantic Group Inc.’s Q1 2017 Earnings (CAA)
CalAtlantic Group Inc. (NYSE:CAA) – Research analysts at KeyCorp issued their Q1 2017 earnings estimates for shares of CalAtlantic Group in a research note issued to investors on Tuesday. KeyCorp analyst K. Zener forecasts that the brokerage will earn $0.79 per share for the quarter. KeyCorp also issued estimates for CalAtlantic Group’s Q4 2017 earnings at $1.16 EPS and FY2017 earnings at $3.79 EPS.
CalAtlantic Group (NYSE:CAA) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. CalAtlantic Group had a net margin of 6.44% and a return on equity of 11.73%. The company earned $1.67 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business posted $0.59 EPS. The company’s quarterly revenue was up 166.0% on a year-over-year basis.
A number of other equities analysts also recently weighed in on CAA. Royal Bank Of Canada initiated coverage on shares of CalAtlantic Group in a research note on Tuesday, July 19th. They set an “outperform” rating and a $48.00 target price for the company. RBC Capital Markets initiated coverage on shares of CalAtlantic Group in a research note on Tuesday, July 19th. They set a “buy” rating and a $48.00 target price for the company. Zacks Investment Research downgraded shares of CalAtlantic Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 27th. MKM Partners lowered their target price on shares of CalAtlantic Group from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Finally, FBR & Co downgraded shares of CalAtlantic Group from an “outperform” rating to a “marketperform” rating in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. CalAtlantic Group currently has a consensus rating of “Buy” and a consensus price target of $42.29.
CalAtlantic Group (NYSE:CAA) opened at 31.34 on Thursday. The firm has a market capitalization of $3.64 billion, a P/E ratio of 10.83 and a beta of 1.48. CalAtlantic Group has a 1-year low of $26.97 and a 1-year high of $43.24. The stock’s 50 day moving average is $32.43 and its 200-day moving average is $35.28.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commerce Bank boosted its position in CalAtlantic Group by 0.3% in the second quarter. Commerce Bank now owns 14,067 shares of the company’s stock valued at $516,000 after buying an additional 40 shares during the period. State Treasurer State of Michigan boosted its position in CalAtlantic Group by 0.3% in the third quarter. State Treasurer State of Michigan now owns 30,000 shares of the company’s stock valued at $1,003,000 after buying an additional 100 shares during the period. US Bancorp DE boosted its position in CalAtlantic Group by 0.9% in the second quarter. US Bancorp DE now owns 27,051 shares of the company’s stock valued at $993,000 after buying an additional 236 shares during the period. LS Investment Advisors LLC boosted its position in CalAtlantic Group by 5.6% in the third quarter. LS Investment Advisors LLC now owns 4,820 shares of the company’s stock valued at $161,000 after buying an additional 256 shares during the period. Finally, Suntrust Banks Inc. boosted its position in CalAtlantic Group by 2.8% in the second quarter. Suntrust Banks Inc. now owns 10,126 shares of the company’s stock valued at $369,000 after buying an additional 275 shares during the period.
In other news, CMO Wendy L. Marlett sold 18,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were 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 of the company’s stock, valued at $1,877,205.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 37.80% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Tuesday, December 13th. CalAtlantic Group’s payout ratio is presently 5.56%.
CalAtlantic Group Company Profile
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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