CA, Inc. (CA) Expected to Post Quarterly Sales of $1.05 Billion

Analysts forecast that CA, Inc. (NASDAQ:CA) will report $1.05 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for CA’s earnings. The highest sales estimate is $1.06 billion and the lowest is $1.05 billion. CA reported sales of $1.03 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.9%. The company is expected to issue its next quarterly earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that CA will report full-year sales of $4.26 billion for the current fiscal year, with estimates ranging from $4.22 billion to $4.29 billion. For the next year, analysts expect that the business will report sales of $4.33 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow CA.

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CA (NASDAQ:CA) last posted its earnings results on Monday, August 6th. The technology company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.14). CA had a net margin of 11.19% and a return on equity of 15.11%. The firm had revenue of $938.00 million for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $0.61 EPS. The company’s revenue was down 8.5% on a year-over-year basis.

CA has been the subject of a number of research analyst reports. Argus cut shares of CA from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Zacks Investment Research raised shares of CA from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Thursday, August 9th. ValuEngine raised shares of CA from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $44.50 price target on shares of CA in a report on Friday, July 13th. Finally, BidaskClub cut shares of CA from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.07.

NASDAQ:CA opened at $43.70 on Friday. CA has a 52 week low of $31.45 and a 52 week high of $44.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.21 and a quick ratio of 2.21. The company has a market cap of $18.46 billion, a P/E ratio of 18.84, a PEG ratio of 3.82 and a beta of 0.84.

In other news, insider Ayman Sayed sold 34,562 shares of the stock in a transaction on Monday, August 13th. The shares were sold at an average price of $43.34, for a total value of $1,497,917.08. Following the sale, the insider now owns 89,514 shares in the company, valued at $3,879,536.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 67,673 shares of company stock worth $2,934,811 in the last quarter. Company insiders own 0.87% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in shares of CA by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,260,352 shares of the technology company’s stock worth $44,932,000 after acquiring an additional 23,026 shares during the period. Standard Life Aberdeen plc increased its stake in shares of CA by 1.3% in the second quarter. Standard Life Aberdeen plc now owns 632,043 shares of the technology company’s stock worth $22,535,000 after acquiring an additional 8,009 shares during the period. Amalgamated Bank increased its stake in shares of CA by 3.2% in the second quarter. Amalgamated Bank now owns 40,372 shares of the technology company’s stock worth $1,439,000 after acquiring an additional 1,238 shares during the period. Millennium Management LLC increased its stake in shares of CA by 4.5% in the second quarter. Millennium Management LLC now owns 1,769,906 shares of the technology company’s stock worth $63,097,000 after acquiring an additional 76,147 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in shares of CA by 1,328.6% in the second quarter. Glenmede Trust Co. NA now owns 709,097 shares of the technology company’s stock worth $25,279,000 after acquiring an additional 659,460 shares during the period. Hedge funds and other institutional investors own 69.87% of the company’s stock.

CA Company Profile

CA, Inc, together with its subsidiaries, develops, markets, delivers, and licenses software products and services in the United States and internationally. It operates through three segments: Mainframe Solutions, Enterprise Solutions, and Services. The Mainframe Solutions segment offers solutions for the IBM z Systems platform, which runs various mission critical business applications.

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