CA, Inc. (CA) Stock Rating Lowered by Zacks Investment Research
CA, Inc. (NYSE:CA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Cloud-based application software solution provider, CA reported better-than-expected second-quarter fiscal 2017 results. The year-over-year revenue and earnings comparison were also favorable. Moreover, we are encouraged by the company’s optimistic fiscal 2017 outlook. CA’s strategy of expanding the cloud business through acquisitions is impressive. The wide range of products should attract customers across sectors, lending stability to the business model. On the cost front, CA’s “go to market” sales strategy integrates the commercial functions of sales, marketing, brand management, pricing and consumer insight, which helps it lower costs and boost its bottom line. A modest cash position and regular share repurchase are also encouraging. However, intensifying competition, an uncertain economic environment, currency headwinds and the weak IT spending forecast by Gartner are concerns.”
A number of other research analysts also recently commented on CA. Jefferies Group boosted their price target on CA from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Citigroup Inc. boosted their target price on CA from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, July 28th. Credit Suisse Group AG reissued a “hold” rating and set a $34.00 target price on shares of CA in a research note on Monday, August 29th. Finally, Hovde Group raised CA from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $24.75 to $26.00 in a research note on Saturday, October 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. CA currently has a consensus rating of “Hold” and a consensus price target of $33.43.
CA (NYSE:CA) opened at 31.56 on Tuesday. CA has a 1-year low of $25.18 and a 1-year high of $34.99. The company has a market cap of $13.19 billion and a price-to-earnings ratio of 16.45. The company’s 50-day moving average is $32.07 and its 200 day moving average is $32.71.
CA (NYSE:CA) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.05. The company earned $1.02 billion during the quarter, compared to analyst estimates of $1,000 million. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. On average, equities analysts predict that CA will post $2.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Thursday, November 17th will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, November 15th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinkerton Retirement Specialists LLC purchased a new position in CA during the second quarter valued at about $117,000. Penserra Capital Management LLC increased its position in CA by 100.0% in the third quarter. Penserra Capital Management LLC now owns 3,744 shares of the company’s stock valued at $123,000 after buying an additional 1,872 shares in the last quarter. Creative Planning increased its position in CA by 20.2% in the third quarter. Creative Planning now owns 4,106 shares of the company’s stock valued at $136,000 after buying an additional 690 shares in the last quarter. Global X Management Co. LLC increased its position in CA by 78.0% in the third quarter. Global X Management Co. LLC now owns 4,162 shares of the company’s stock valued at $138,000 after buying an additional 1,824 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. increased its position in CA by 69.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,208 shares of the company’s stock valued at $138,000 after buying an additional 1,731 shares in the last quarter.
CA, Inc (CA) is engaged in providing software solutions enabling customers to plan, develop, manage and secure applications and enterprise environments across distributed, cloud, mobile and mainframe platforms. The Company operates through three business segments: Mainframe Solutions, Enterprise Solutions and Services.
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