Zacks: Analysts Expect CalAtlantic Group Inc (CAA) Will Post Quarterly Sales of $2.12 Billion

Wall Street analysts expect CalAtlantic Group Inc (NYSE:CAA) to post $2.12 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for CalAtlantic Group’s earnings. The highest sales estimate is $2.27 billion and the lowest is $1.94 billion. CalAtlantic Group reported sales of $1.95 billion during the same quarter last year, which indicates a positive year over year growth rate of 8.7%. The company is scheduled to announce its next quarterly earnings results on Wednesday, February 14th.

On average, analysts expect that CalAtlantic Group will report full year sales of $2.12 billion for the current financial year, with estimates ranging from $6.45 billion to $6.81 billion. For the next fiscal year, analysts forecast that the company will post sales of $7.32 billion per share, with estimates ranging from $7.02 billion to $7.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover CalAtlantic Group.

CalAtlantic Group (NYSE:CAA) last issued its quarterly earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). CalAtlantic Group had a return on equity of 10.35% and a net margin of 6.85%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the business posted $0.97 earnings per share. CalAtlantic Group’s revenue was down 9.0% on a year-over-year basis.

A number of brokerages recently issued reports on CAA. Deutsche Bank lowered CalAtlantic Group from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Monday, November 20th. Mizuho lowered CalAtlantic Group from a “buy” rating to a “neutral” rating and set a $51.00 price target for the company. in a research note on Monday, November 13th. UBS raised their price target on CalAtlantic Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. Barclays raised their price target on CalAtlantic Group from $35.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Finally, B. Riley reaffirmed a “neutral” rating on shares of CalAtlantic Group in a research report on Wednesday, November 1st. Fifteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $46.11.

Shares of CalAtlantic Group (NYSE:CAA) traded up $0.63 during mid-day trading on Thursday, hitting $55.83. The company had a trading volume of 458,900 shares, compared to its average volume of 1,304,872. CalAtlantic Group has a 52-week low of $32.47 and a 52-week high of $57.04. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.91 and a quick ratio of 0.29. The company has a market cap of $6,090.46, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.91 and a beta of 1.58.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 30th. Shareholders of record on Friday, December 15th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Thursday, December 14th. CalAtlantic Group’s dividend payout ratio (DPR) is presently 4.75%.

In other news, EVP John Patrick Babel sold 12,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $52.48, for a total value of $629,760.00. Following the completion of the transaction, the executive vice president now directly owns 33,603 shares of the company’s stock, valued at approximately $1,763,485.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Larry T. Nicholson sold 17,033 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total value of $613,188.00. Following the completion of the transaction, the chief executive officer now directly owns 594,600 shares of the company’s stock, valued at $21,405,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 300,239 shares of company stock valued at $15,584,165. 39.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAA. Great West Life Assurance Co. Can raised its position in shares of CalAtlantic Group by 8.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 46,809 shares of the industrial goods maker’s stock worth $1,654,000 after acquiring an additional 3,527 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of CalAtlantic Group in the 2nd quarter worth $154,000. Schwab Charles Investment Management Inc. raised its position in shares of CalAtlantic Group by 8.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 365,718 shares of the industrial goods maker’s stock worth $12,929,000 after acquiring an additional 28,093 shares in the last quarter. Arizona State Retirement System raised its position in shares of CalAtlantic Group by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 30,400 shares of the industrial goods maker’s stock worth $1,075,000 after acquiring an additional 400 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of CalAtlantic Group by 27.1% in the 2nd quarter. Legal & General Group Plc now owns 69,004 shares of the industrial goods maker’s stock worth $2,439,000 after acquiring an additional 14,710 shares in the last quarter.

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CalAtlantic Group Company Profile

CalAtlantic Group, Inc is a diversified builder of single-family attached and detached homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment operations include acquiring and developing land, and constructing and selling single-family attached and detached homes.

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Earnings History and Estimates for CalAtlantic Group (NYSE:CAA)

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