Zacks: Brokerages Expect Potlatch Corporation (PCH) Will Post Earnings of $0.59 Per Share

Brokerages expect Potlatch Corporation (NASDAQ:PCH) to post earnings per share (EPS) of $0.59 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Potlatch’s earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.55. Potlatch reported earnings per share of $0.35 during the same quarter last year, which would suggest a positive year-over-year growth rate of 68.6%. The firm is expected to announce its next earnings report on Tuesday, January 30th.

According to Zacks, analysts expect that Potlatch will report full-year earnings of $2.39 per share for the current financial year, with EPS estimates ranging from $2.37 to $2.40. For the next year, analysts expect that the company will post earnings of $2.63 per share, with EPS estimates ranging from $2.50 to $2.95. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Potlatch.

Potlatch (NASDAQ:PCH) last released its earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. Potlatch had a return on equity of 54.42% and a net margin of 13.54%. The firm had revenue of $190.40 million during the quarter, compared to analysts’ expectations of $187.29 million. During the same period in the previous year, the firm posted $0.68 EPS. Potlatch’s revenue for the quarter was up 9.4% on a year-over-year basis.

Several research analysts have recently issued reports on the company. Vertical Research cut Potlatch from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. BidaskClub cut Potlatch from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Bank of America upped their price objective on Potlatch from $50.00 to $54.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 25th. BMO Capital Markets reaffirmed a “hold” rating on shares of Potlatch in a research report on Monday, October 23rd. Finally, Zacks Investment Research raised Potlatch from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective for the company in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Potlatch presently has a consensus rating of “Hold” and an average price target of $49.40.

Potlatch (NASDAQ PCH) traded down $1.00 on Friday, reaching $49.55. The company had a trading volume of 564,200 shares, compared to its average volume of 331,074. Potlatch has a 1 year low of $39.05 and a 1 year high of $56.35. The firm has a market cap of $2,052.88, a PE ratio of 22.57, a price-to-earnings-growth ratio of 4.23 and a beta of 1.44. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.17 and a quick ratio of 1.72.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be issued a $0.40 dividend. This is an increase from Potlatch’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, December 7th. Potlatch’s payout ratio is presently 73.73%.

In other news, VP William R. Dereu sold 4,720 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $52.50, for a total value of $247,800.00. Following the completion of the sale, the vice president now directly owns 26,142 shares of the company’s stock, valued at approximately $1,372,455. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Potlatch by 1.6% in the 2nd quarter. BlackRock Inc. now owns 4,839,675 shares of the real estate investment trust’s stock valued at $221,173,000 after purchasing an additional 75,874 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Potlatch by 7.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,680,147 shares of the real estate investment trust’s stock valued at $168,183,000 after purchasing an additional 251,612 shares during the last quarter. Renaissance Technologies LLC raised its stake in Potlatch by 3.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,588,200 shares of the real estate investment trust’s stock valued at $72,581,000 after acquiring an additional 59,647 shares during the last quarter. State Street Corp raised its stake in Potlatch by 8.0% during the 2nd quarter. State Street Corp now owns 1,378,999 shares of the real estate investment trust’s stock valued at $63,023,000 after acquiring an additional 102,275 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Potlatch by 8.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,105,370 shares of the real estate investment trust’s stock valued at $56,374,000 after acquiring an additional 86,425 shares during the last quarter. 84.78% of the stock is owned by institutional investors and hedge funds.

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About Potlatch

Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.

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