CalAtlantic Group, Inc. (CAA) Expected to Announce Quarterly Sales of $2.13 Billion

Equities research analysts forecast that CalAtlantic Group, Inc. (NYSE:CAA) will post $2.13 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for CalAtlantic Group’s earnings, with estimates ranging from $1.94 billion to $2.35 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 9.2%. The business is scheduled to issue its next earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that CalAtlantic Group will report full year sales of $2.13 billion for the current year, with estimates ranging from $6.45 billion to $6.86 billion. For the next year, analysts forecast that the company will post sales of $7.33 billion per share, with estimates ranging from $7.02 billion to $7.61 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover CalAtlantic Group.

CalAtlantic Group (NYSE:CAA) last announced its quarterly earnings results on Wednesday, November 8th. The industrial goods maker reported $0.75 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the business earned $0.97 EPS. The business’s revenue was down 9.0% compared to the same quarter last year.

Several equities analysts have commented on the company. Mizuho assumed coverage on CalAtlantic Group in a research report on Thursday, October 26th. They set a “buy” rating and a $45.00 price objective for the company. ValuEngine raised CalAtlantic Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Barclays PLC raised their price objective on CalAtlantic Group from $35.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. KeyCorp reissued a “hold” rating on shares of CalAtlantic Group in a research report on Friday, August 25th. Finally, JMP Securities lowered CalAtlantic Group from an “outperform” rating to a “market perform” rating in a research report on Monday, October 30th. Fourteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $45.33.

Shares of CalAtlantic Group (NYSE CAA) traded up $0.70 during mid-day trading on Wednesday, reaching $52.31. The company had a trading volume of 3,336,579 shares, compared to its average volume of 1,274,030. CalAtlantic Group has a 12 month low of $31.99 and a 12 month high of $52.73. The stock has a market capitalization of $5,770.00 and a price-to-earnings ratio of 15.42. 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 business also recently declared 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 0.31%. CalAtlantic Group’s payout ratio is presently 4.75%.

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In other news, CEO Larry T. Nicholson sold 17,033 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $36.00, for a total transaction of $613,188.00. Following the completion of the transaction, the chief executive officer now directly owns 594,600 shares in the company, valued at $21,405,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William L. Jews sold 7,482 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $51.52, for a total value of $385,472.64. Following the transaction, the director now owns 41,717 shares of the company’s stock, valued at $2,149,259.84. The disclosure for this sale can be found here. Insiders have sold 144,897 shares of company stock valued at $7,244,983 over the last 90 days. Corporate insiders own 39.50% of the company’s stock.

Several large investors have recently modified their holdings of CAA. Donald Smith & CO. Inc. bought a new position in shares of CalAtlantic Group during the third quarter valued at $64,178,000. Balyasny Asset Management LLC increased its holdings in shares of CalAtlantic Group by 515.5% during the second quarter. Balyasny Asset Management LLC now owns 1,261,045 shares of the industrial goods maker’s stock valued at $44,578,000 after acquiring an additional 1,056,155 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CalAtlantic Group by 283.8% during the third quarter. JPMorgan Chase & Co. now owns 1,189,005 shares of the industrial goods maker’s stock valued at $43,054,000 after acquiring an additional 879,180 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of CalAtlantic Group during the second quarter valued at $30,069,000. Finally, 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 valued at $107,812,000 after acquiring an additional 491,510 shares in the last quarter.

About CalAtlantic Group

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

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