CalAtlantic Group Inc (CAA) Releases Earnings Results, Misses Expectations By $-0.23 EPS

CalAtlantic Group Inc (CAA) reported quarterly earnings results on Thursday, May-5-2016. The company reported $0.60 earnings per share for the quarter, missing the analyst consensus estimate by $-0.23. Analysts had a consensus of $0.83. The company posted revenue of $1179.00 million in the period, compared to analysts expectations of $1510.56 million. The company’s revenue was up 151.7% compared to the same quarter last year.

Many Wall Street Analysts have commented on CalAtlantic Group Inc. CalAtlantic Group Inc was Resumed by BofA/Merrill to “Underperform” on Mar 16, 2016. Shares were Reiterated by FBR Capital on Feb 22, 2016 to “Mkt Perform” and Lowered the Price Target to $ 32 from a previous price target of $44 .Shares were Reiterated by MKM Partners on Feb 22, 2016 to “Neutral” and Lowered the Price Target to $ 34 from a previous price target of $45 .

In a different news, on Feb 26, 2016, Larry T Nicholson (President & CEO) sold 78,342 shares at $29.00 per share price. According to the SEC, on Nov 23, 2015, Peter G Skelly (EVP & Chief Operating Officer) sold 13,587 shares at $41.33 per share price.

Calatlantic Group Inc. formerly Standard Pacific Corp. is a builder of single-family attached and detached homes. The Company operates in two segments: homebuilding and financial services. The Company’s homebuilding segment operations include acquiring and developing land and construct and sell single-family attached and detached homes. The homebuilding operating segments are grouped into three segments: California; Southwest consisting of its operating divisions in Arizona Texas Colorado and Nevada; and Southeast consisting of its operating divisions in Florida and the Carolinas. The Company’s Financial Services segment includes mortgage financing operation which provides mortgage financing to its homebuyers. The Company’s title services operation provides title examinations for its homebuyers in Texas and Florida.

CalAtlantic Group Inc

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