CalAtlantic Group Inc. (CAA) Given a $45.00 Price Target at MKM Partners
Several other equities research analysts have also recently issued reports on CAA. Evercore ISI began coverage on CalAtlantic Group in a report on Monday, November 14th. They issued a buy rating and a $43.00 price objective on the stock. JPMorgan Chase & Co. reiterated a buy rating on shares of CalAtlantic Group in a report on Thursday, November 3rd. FBR & Co reiterated a hold rating and issued a $38.00 price objective 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. Finally, TheStreet cut CalAtlantic Group from a buy rating to a hold rating in a report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $42.35.
Shares of CalAtlantic Group (NYSE:CAA) traded up 0.18% during midday trading on Thursday, hitting $34.12. The stock had a trading volume of 351,592 shares. The firm’s 50 day moving average price is $32.24 and its 200 day moving average price is $35.29. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 11.79 and a beta of 1.48. CalAtlantic Group has a 52-week low of $26.97 and a 52-week high of $43.16.
CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 earned $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business earned $0.59 EPS. CalAtlantic Group’s revenue for the quarter was up 166.0% compared to the same quarter last year. On average, equities research analysts expect that CalAtlantic Group will post $3.42 earnings per share for the current year.
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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 given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Tuesday, December 13th. CalAtlantic Group’s payout ratio is 5.56%.
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 of the company’s stock, valued at $1,877,205.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 37.80% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in CalAtlantic Group by 3.9% in the second quarter. Nordea Investment Management AB now owns 50,278 shares of the company’s stock worth $1,846,000 after buying an additional 1,867 shares in the last quarter. Gray Financial Group GA ADV ADV bought a new stake in CalAtlantic Group during the second quarter worth $216,000. Premier Asset Managment LLC bought a new stake in CalAtlantic Group during the second quarter worth $9,932,000. Nisa Investment Advisors LLC raised its stake in CalAtlantic Group by 3.2% in the second quarter. Nisa Investment Advisors LLC now owns 40,122 shares of the company’s stock worth $1,473,000 after buying an additional 1,250 shares in the last quarter. Finally, Hexavest Inc. raised its stake in CalAtlantic Group by 102.0% in the second quarter. Hexavest Inc. now owns 1,445,101 shares of the company’s stock worth $53,050,000 after buying an additional 729,824 shares in the last quarter.
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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