CalAtlantic Group, Inc. (CAA) Expected to Announce Quarterly Sales of $2.12 Billion

Brokerages predict that CalAtlantic Group, Inc. (NYSE:CAA) will report sales of $2.12 billion for the current quarter, Zacks reports. 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 would suggest a positive year over year growth rate of 8.7%. The company is scheduled to announce its next 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 fiscal year, with estimates ranging from $6.45 billion to $6.81 billion. For the next financial year, analysts forecast that the firm will report 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 an average based on a survey of research firms that cover CalAtlantic Group.

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

Several research firms have weighed in on CAA. Deutsche Bank cut shares of CalAtlantic Group from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a report on Monday, November 20th. Mizuho cut shares of CalAtlantic Group from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a report on Monday, November 13th. UBS increased their price target on shares of CalAtlantic Group from $42.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Barclays increased their price target on shares of CalAtlantic Group from $35.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. Finally, B. Riley reissued a “neutral” rating on shares of CalAtlantic Group in a report on Wednesday, November 1st. Fifteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.11.

CalAtlantic Group (CAA) traded down $0.91 during trading on Friday, reaching $54.37. 1,041,045 shares of the company’s stock traded hands, compared to its average volume of 1,300,448. The company has a market cap of $6,000.00 and a PE ratio of 16.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.29 and a current ratio of 5.91. CalAtlantic Group has a 52-week low of $32.47 and a 52-week high of $57.04.

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

In other news, CEO Larry T. Nicholson sold 17,033 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $36.00, for a total transaction of $613,188.00. Following the transaction, the chief executive officer now directly owns 594,600 shares of the company’s stock, valued at $21,405,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Larry T. Nicholson sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $51.94, for a total transaction of $5,194,000.00. Following the transaction, the chief executive officer now directly owns 714,691 shares in the company, valued at $37,121,050.54. The disclosure for this sale can be found here. Insiders have sold 235,239 shares of company stock worth $11,991,615 over the last ninety days. Insiders own 39.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Denali Advisors LLC bought a new position in shares of CalAtlantic Group during the third quarter worth approximately $769,000. Greenhaven Associates Inc. increased its holdings in shares of CalAtlantic Group by 19.2% during the second quarter. Greenhaven Associates Inc. now owns 3,049,843 shares of the industrial goods maker’s stock worth $107,812,000 after purchasing an additional 491,510 shares during the period. BlueMountain Capital Management LLC increased its holdings in shares of CalAtlantic Group by 412.2% during the second quarter. BlueMountain Capital Management LLC now owns 95,767 shares of the industrial goods maker’s stock worth $3,385,000 after purchasing an additional 77,068 shares during the period. Arizona State Retirement System increased its holdings in shares of CalAtlantic Group by 1.3% during the second quarter. Arizona State Retirement System now owns 30,400 shares of the industrial goods maker’s stock worth $1,075,000 after purchasing an additional 400 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in shares of CalAtlantic Group by 8.1% during 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.

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