CalAtlantic Group Inc (CAA) Stock Soars on News of Lennar Deal

Alicia Cross
November 1, 2017

FBR & Co restated their hold rating on shares of CalAtlantic Group Inc.

CalAtlantic Group, Inc. (NYSE:CAA) gross margin percentage stands at 22.4% while its operating margin for the past trailing twelve month is 11.2 percent and its overall profit margin (ttm) is 7.2 Percent. FBR & Co now has a $38.00 price objective on the stock. On October 31, 2017 the stock rating was set at " in a report from Wedbush which was a cut from the previous "Outperform" rating. KeyCorp reissued a "hold" rating on shares of CalAtlantic Group in a report on Friday, August 25th. Mizuho released its first research report on the stock by announcing an initial rating of "Buy". Analysts have a mean recommendation of 2.40 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The stock now has a consensus rating of Buy and a consensus target price of $42.29.

Current levels places CalAtlantic Group, Inc. The company has a market cap of $3.63 billion, a P/E ratio of 10.81 and a beta of 1.48.

CalAtlantic Group, Inc. also declared a dividend for shareholders that was paid on Sat Sep 30, 2017. The company's 50 day moving average price is $37.50 and its 200 day moving average price is $36.31.

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The company is now up by 0.55% percent from yesterday's close. The business had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.61 billion. CalAtlantic Group's quarterly revenue was up 4.0% on a year-over-year basis. The dividend was $0.040 per share for the quarter which is $0.16 annualized. In the latest earnings report the EPS was $3.63 and is estimated to be $3.45 for the current year with 110,204,000 shares now outstanding. The ex-dividend date of this dividend is Tuesday, December 13th. They represent 24 of the top 30 metro statistical markets where approximately 50 percent of the USA population now lives. CalAtlantic Group's dividend payout ratio (DPR) is 5.56%.

CalAtlantic shares surged 24.18% to US$50.23 on the news while Lennar slipped 2.28% at US$56.71.

CalAtlantic shareholders also have the option to take all or a portion of their shares in cash, at $48.26 a share. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The day's total volume of 5076058 this morning is in contrast from the three-month daily average of 1131.13K. Finally, Sciencast Management LP acquired a new stake in shares of CalAtlantic Group during the second quarter valued at $222,000. According to a survey published last month, 60 percent of home builders say they had difficulty attracting the right workers during the third quarter of the year.

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