Brokerages expect Potlatchdeltic Corp (NASDAQ:PCH) to announce sales of $299.63 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Potlatchdeltic’s earnings, with the lowest sales estimate coming in at $295.80 million and the highest estimate coming in at $303.46 million. Potlatchdeltic posted sales of $190.44 million in the same quarter last year, which would indicate a positive year over year growth rate of 57.3%. The company is scheduled to report its next quarterly earnings report before the market opens on Monday, October 29th.
According to Zacks, analysts expect that Potlatchdeltic will report full-year sales of $1.03 billion for the current financial year, with estimates ranging from $1.02 billion to $1.04 billion. For the next fiscal year, analysts expect that the business will report sales of $1.08 billion, with estimates ranging from $1.06 billion to $1.11 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Potlatchdeltic.
Potlatchdeltic (NASDAQ:PCH) last announced its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.14. The company had revenue of $268.20 million during the quarter, compared to the consensus estimate of $271.88 million. Potlatchdeltic had a net margin of 12.72% and a return on equity of 18.57%. The company’s revenue for the quarter was up 64.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share.
Several brokerages recently weighed in on PCH. Zacks Investment Research raised shares of Potlatchdeltic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 26th. BidaskClub raised shares of Potlatchdeltic from a “strong sell” rating to a “sell” rating in a research note on Friday, August 17th. Finally, ValuEngine cut shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Potlatchdeltic presently has a consensus rating of “Hold” and a consensus price target of $50.83.
Shares of NASDAQ:PCH traded up $0.77 during trading on Thursday, hitting $36.23. 587,000 shares of the company were exchanged, compared to its average volume of 562,280. The company has a market capitalization of $2.57 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.79 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.40 and a current ratio of 3.21. Potlatchdeltic has a 1-year low of $35.10 and a 1-year high of $56.35.
Potlatchdeltic announced that its board has authorized a share buyback program on Thursday, August 30th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a special dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, September 27th will be issued a $3.54 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a dividend yield of 3.31%. Potlatchdeltic’s dividend payout ratio is presently 67.80%.
In related news, VP Lorrie D. Scott sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $47.06, for a total value of $70,590.00. Following the sale, the vice president now owns 14,586 shares in the company, valued at approximately $686,417.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its stake in Potlatchdeltic by 94.1% in the 1st quarter. Wells Fargo & Company MN now owns 245,533 shares of the real estate investment trust’s stock valued at $12,780,000 after buying an additional 119,061 shares during the last quarter. New York State Common Retirement Fund increased its stake in Potlatchdeltic by 42.7% in the 1st quarter. New York State Common Retirement Fund now owns 69,600 shares of the real estate investment trust’s stock valued at $3,623,000 after buying an additional 20,840 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Potlatchdeltic in the 1st quarter valued at about $18,183,000. Sei Investments Co. increased its stake in Potlatchdeltic by 39.9% in the 1st quarter. Sei Investments Co. now owns 68,663 shares of the real estate investment trust’s stock valued at $3,574,000 after buying an additional 19,589 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Potlatchdeltic in the 1st quarter valued at about $1,019,000. Institutional investors own 83.52% of the company’s stock.
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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