Q4 2016 Earnings Estimate for CalAtlantic Group Inc. Issued By KeyCorp (CAA)
CalAtlantic Group Inc. (NYSE:CAA) – Research analysts at KeyCorp cut their Q4 2016 earnings per share (EPS) estimates for shares of CalAtlantic Group in a research report issued on Tuesday. KeyCorp analyst K. Zener now forecasts that the firm will post earnings of $1.10 per share for the quarter, down from their previous forecast of $1.17. KeyCorp also issued estimates for CalAtlantic Group’s Q2 2017 earnings at $0.90 EPS and Q3 2017 earnings at $0.94 EPS.
A number of other equities analysts have also recently issued reports on CAA. JPMorgan Chase & Co. restated a “buy” rating on shares of CalAtlantic Group in a report on Thursday, November 3rd. FBR & Co restated a “hold” rating and set a $38.00 target price on shares of CalAtlantic Group in a report on Thursday, November 3rd. Zacks Investment Research cut CalAtlantic Group from a “hold” rating to a “sell” rating in a report on Monday, October 31st. TheStreet cut CalAtlantic Group from a “buy” rating to a “hold” rating in a report on Monday, October 3rd. Finally, Wells Fargo & Co. assumed coverage on CalAtlantic Group in a report on Wednesday, September 28th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $42.29.
CalAtlantic Group (NYSE:CAA) opened at 31.34 on Wednesday. The company has a 50-day moving average price of $32.43 and a 200-day moving average price of $35.28. The firm has a market cap of $3.64 billion, a P/E ratio of 10.83 and a beta of 1.48. 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 Wednesday, October 26th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. CalAtlantic Group had a return on equity of 11.73% and a net margin of 6.44%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The firm’s revenue was up 166.0% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in CAA. Bank of Montreal Can purchased a new stake in CalAtlantic Group during the second quarter valued at approximately $113,000. LS Investment Advisors LLC boosted its stake 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 last quarter. Fifth Third Bancorp purchased a new stake in CalAtlantic Group during the second quarter valued at approximately $166,000. Gray Financial Group GA ADV ADV purchased a new stake in CalAtlantic Group during the second quarter valued at approximately $216,000. Finally, Tower Research Capital LLC TRC purchased a new stake in CalAtlantic Group during the second quarter valued at approximately $220,000.
In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $34.51, for a total value of $621,180.00. Following the sale, the chief marketing officer now owns 54,396 shares in the company, valued at approximately $1,877,205.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 37.80% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.51%. The ex-dividend date is Tuesday, December 13th. CalAtlantic Group’s payout ratio is 5.56%.
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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