Economy

Lennar to become biggest home builder in the US

Lennar to become biggest home builder in the US

(NYSE:CAA). At the time of writing, the First Call consensus price target for the company is $40.25. They set a "buy" rating and a $45.00 target price on the stock. They set a "neutral" rating and a $42.00 target price on the stock. This is based on the closing price of LEN stock on October 27, 2017. TheStreet cut CalAtlantic Group from a buy rating to a hold rating in a research note on Monday, October 3rd. If you are viewing this story on another website, it was illegally copied and reposted in violation of United States & worldwide trademark & copyright legislation. The original version of this report can be viewed at https://www.truebluetribune.com/2017/10/29/calatlantic-group-inc-caa-receives-average-rating-of-hold-from-analysts.html.

Shares of CalAtlantic Group (NYSE:CAA) opened at 40.45 on Thursday.

Shares of CalAtlantic were up over 9% in early Monday premarket trading following the release of the news. With the last stock price up 35.38% from the two hundred day average, compared with the Standard & Poor's 500 Index which has increased 0.03% over the same period. For the quarter, shares have been noted at 15.24%. The operating margin is 11.20% percent and the net profit margin stands at 7.20% percent. For the past 5 years, the company's revenue has grown 48.6%, while the company's earnings per share has grown 75.8%. CalAtlantic Group's quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that CalAtlantic Group will post $3.40 EPS for the current fiscal year. The Company also provides mortgage, title and escrow services. This represents a $0.16 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Tuesday, December 13th. CalAtlantic Group's dividend payout ratio (DPR) is presently 5.56%.

More news: Airtel partners with Celkon to offer 4G smartphones for Rs 1349
More news: Sprint stock dives 11% over report T-Mobile merger is off
More news: Even iPhone X Repairs Are Expensive

Under this just announced deal, each CalAtlantic share of stock is to be exchanged at a rate of 0.885 shares of Class A Lennar common stock. The shares were sold at an average price of $36.00, for a total transaction of $613,188.00. Corporate insiders own 39.50% of the company's stock.

Hedge funds have recently modified their holdings of the company.

CalAtlantic Group Inc and Lennar Corporation are expecting synergies between the two companies once the acquisition is complete. The volume of 1.81 Million shares climbed up over an trading activity of 1.02 Million shares. Arizona State Retirement System now owns 30,400 shares of the construction company's stock valued at $1,075,000 after buying an additional 400 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of CalAtlantic Group by 63.5% in the second quarter.


  • Driver killed after 12-year-old jumps off I-66 overpass

    Driver killed after 12-year-old jumps off I-66 overpass

    The crash occurred at 4:18pm near Exit 62 in Fairfax County as Harris was driving Eastbound, according to local authorities. Harris' family said the woman's boyfriend was a passenger in the auto and took control and steered it off the interstate.
    Watching for flooding overnight with heavy rain and gusty winds

    Watching for flooding overnight with heavy rain and gusty winds

    A heavy rainstorm hit Massachusetts Sunday afternoon into early Monday morning, causing flooding and wind damage across the state. Sunday's winds could break tree branches and down weaker trees, particularly those in saturated soils after recent rains .
    Newly Single Selena Gomez Spends More Time With Ex Justin Bieber

    Newly Single Selena Gomez Spends More Time With Ex Justin Bieber

    That night, Bieber's vehicle was photographed at Gomez's house so it was a marathon catch up (his auto was photographed leaving the next morning).
  • Rose McGowan Takes on Trump, Weinstein in Fiery Speech

    Rose McGowan Takes on Trump, Weinstein in Fiery Speech

    McGowan says she turned down the money the day before the New York Times ran an expose on the movie mogul. McGowan is one of dozens of women who have accused Weinstein of sexual assault and harassment.
    Rainy and windy, high near 50 — TODAY'S FORECAST

    Rainy and windy, high near 50 — TODAY'S FORECAST

    Friday night , there is a 30 percent chance of showers after 1 a.m., with a low of 45, according to the weather service. Thursday will be mostly cloudy with a 40 percent chance of rain and a high of 65 and a low of 51.
    HSBC just reported a 448 percent jump in pre-tax profit

    HSBC just reported a 448 percent jump in pre-tax profit

    The bank's pivot to the region is centered around China's Pearl River Delta, where it has committed billions in investments. He said that strategy is paying off, with lending growth in Asia up 17% in the third quarter from a year ago.
  • SC to hear Hadiya in open court on Nov 27

    SC to hear Hadiya in open court on Nov 27

    The Apex court has also asked the father to produce Hadiya Shefin on November 27th which is the next date of hearing in the case. Recently, while hearing a matter, the Kerala High Court observed: "All inter-religious marriages can not be termed love jihad".
    GameStop introduces pre-owned PowerPass rental service

    GameStop introduces pre-owned PowerPass rental service

    At the end of that period, anyone who's signed up will be able to keep the last game they've taken out. For $60, the PowerPass program turns GameStop's pre-owned catalog into a library for players.
    Puerto Rico Utility Moves to Scrap $300 Million Whitefish Contract

    Puerto Rico Utility Moves to Scrap $300 Million Whitefish Contract

    Luce told MSBNC that Whitefish landed the Puerto Rico Electric Power Authority pact because it moved quickly to land the business. Rosselló gets his way and the contract is canceled, the governor wants to bring in more power crews from NY and Florida.
  • Tiger Woods to make return at Hero World Challenge

    Tiger Woods to make return at Hero World Challenge

    In a statement released Monday, Woods said he thanked "fans for their unwavering support" during his injury. Woods made his last return to golf in this very tournament past year only to finish third last.
    Selena Gomez Speaks Out About Kidney Transplant: It Was 'Life or Death'

    Selena Gomez Speaks Out About Kidney Transplant: It Was 'Life or Death'

    As her best friend and roommate, Francia saw first-hand the pain Selena was in. "That was it", Gomez said. Forced to face her mortality, the young singer didn't want to ask any of her loved ones for help.
    Dry Halloween, But Rain Returns Later This Week

    Dry Halloween, But Rain Returns Later This Week

    An afternoon shower will mar an otherwise pleasant day, with temperatures on Thursday and Friday again rising to near 70 degrees. For Halloween , prepare to incorporate an extra layer or two if you're heading out in costumes or for trick-or-treating.