CalAtlantic Group Inc. (NYSE:CAA) released its quarterly earnings results on Wednesday. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. CalAtlantic Group had a net margin of 5.86% and a return on equity of 11.24%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The firm’s revenue for the quarter was up 166.0% compared to the same quarter last year.

CalAtlantic Group (NYSE:CAA) opened at 30.99 on Thursday. CalAtlantic Group has a one year low of $26.97 and a one year high of $43.24. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 12.28 and a beta of 1.59. The stock has a 50 day moving average of $33.45 and a 200-day moving average of $35.53.

Earnings History for CalAtlantic Group (NYSE:CAA)

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, September 13th. CalAtlantic Group’s payout ratio is 6.40%.

CAA has been the topic of a number of research analyst reports. RBC Capital Markets initiated coverage on shares of CalAtlantic Group in a research note on Tuesday, July 19th. They issued a “buy” rating and a $48.00 target price on the stock. MKM Partners dropped their price target on shares of CalAtlantic Group from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. Credit Suisse Group AG restated a “buy” rating on shares of CalAtlantic Group in a research note on Tuesday, July 12th. TheStreet upgraded shares of CalAtlantic Group from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Finally, Bank of America Corp. upgraded shares of CalAtlantic Group from an “underperform” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Friday, August 12th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.21.

In other CalAtlantic Group news, CMO Wendy L. Marlett sold 18,000 shares of CalAtlantic Group stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $34.51, for a total value of $621,180.00. Following the completion of the transaction, the chief marketing officer now directly owns 54,396 shares of the company’s stock, valued at approximately $1,877,205.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 37.80% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Teachers Advisors Inc. boosted its position in shares of CalAtlantic Group by 2.4% in the first quarter. Teachers Advisors Inc. now owns 119,436 shares of the company’s stock valued at $3,992,000 after buying an additional 2,818 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of CalAtlantic Group by 509.1% in the first quarter. Prudential Financial Inc. now owns 301,227 shares of the company’s stock valued at $10,067,000 after buying an additional 251,776 shares during the last quarter. BlackRock Inc. boosted its position in shares of CalAtlantic Group by 9.5% in the first quarter. BlackRock Inc. now owns 29,495 shares of the company’s stock valued at $985,000 after buying an additional 2,561 shares during the last quarter. BlackRock Group LTD boosted its position in shares of CalAtlantic Group by 28.8% in the first quarter. BlackRock Group LTD now owns 45,100 shares of the company’s stock valued at $1,507,000 after buying an additional 10,075 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of CalAtlantic Group by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,224,143 shares of the company’s stock valued at $74,331,000 after buying an additional 47,652 shares during the last quarter.

About CalAtlantic Group

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.

5 Day Chart for NYSE:CAA

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