Zacks: Brokerages Anticipate Potlatchdeltic Corp (PCH) to Announce $0.05 EPS

Analysts expect Potlatchdeltic Corp (NASDAQ:PCH) to report earnings per share of $0.05 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Potlatchdeltic’s earnings, with estimates ranging from $0.05 to $0.06. Potlatchdeltic reported earnings per share of $0.54 during the same quarter last year, which would suggest a negative year over year growth rate of 90.7%. The company is expected to report its next earnings results on Monday, February 4th.

On average, analysts expect that Potlatchdeltic will report full-year earnings of $2.42 per share for the current financial year. For the next year, analysts expect that the company will post earnings of $1.79 per share, with EPS estimates ranging from $1.65 to $2.00. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Potlatchdeltic.

Potlatchdeltic (NASDAQ:PCH) last posted its earnings results on Monday, October 29th. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.01). The business had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $288.27 million. Potlatchdeltic had a return on equity of 15.77% and a net margin of 14.23%. Potlatchdeltic’s revenue for the quarter was up 51.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 EPS.

Several equities analysts have recently weighed in on PCH shares. ValuEngine downgraded shares of Potlatchdeltic from a “sell” rating to a “strong sell” rating in a research note on Friday, September 28th. Zacks Investment Research downgraded shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. BidaskClub downgraded shares of Potlatchdeltic from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. BMO Capital Markets reduced their target price on shares of Potlatchdeltic from $49.00 to $44.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Finally, DA Davidson upgraded shares of Potlatchdeltic from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $52.00 to $50.00 in a research note on Tuesday, October 30th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Potlatchdeltic presently has a consensus rating of “Hold” and a consensus price target of $51.00.

Shares of PCH traded up $0.03 during trading hours on Friday, hitting $37.10. The company’s stock had a trading volume of 527,204 shares, compared to its average volume of 456,286. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 3.03 and a beta of 1.17. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. Potlatchdeltic has a 52-week low of $33.09 and a 52-week high of $55.75.

The company also recently disclosed a special dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, September 27th were paid a dividend of $3.54 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a yield of 3.31%. Potlatchdeltic’s dividend payout ratio is currently 67.80%.

Potlatchdeltic declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 30th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Potlatchdeltic by 6.7% during the third quarter. Vanguard Group Inc. now owns 8,698,996 shares of the real estate investment trust’s stock valued at $356,224,000 after acquiring an additional 544,732 shares in the last quarter. BlackRock Inc. grew its stake in Potlatchdeltic by 8.5% during the third quarter. BlackRock Inc. now owns 8,537,689 shares of the real estate investment trust’s stock valued at $349,616,000 after acquiring an additional 666,586 shares in the last quarter. Renaissance Technologies LLC grew its stake in Potlatchdeltic by 10.9% during the third quarter. Renaissance Technologies LLC now owns 2,601,731 shares of the real estate investment trust’s stock valued at $106,541,000 after acquiring an additional 255,411 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in Potlatchdeltic by 11.1% during the third quarter. Pictet Asset Management Ltd. now owns 2,363,557 shares of the real estate investment trust’s stock valued at $96,788,000 after acquiring an additional 237,010 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Potlatchdeltic by 36.9% during the second quarter. Northern Trust Corp now owns 1,288,325 shares of the real estate investment trust’s stock valued at $65,511,000 after acquiring an additional 346,939 shares in the last quarter. 83.94% of the stock is owned by institutional investors.

Potlatchdeltic Company Profile

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.

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Earnings History and Estimates for Potlatchdeltic (NASDAQ:PCH)

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