Potlatch Corp. (PCH) to Release Quarterly Earnings on Friday
Potlatch Corp. (NASDAQ:PCH) is scheduled to be posting its quarterly earnings results before the market opens on Friday, October 21st. Analysts expect Potlatch Corp. to post earnings of $0.65 per share for the quarter.
Potlatch Corp. (NASDAQ:PCH) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $141.50 million for the quarter, compared to analysts’ expectations of $128.70 million. Potlatch Corp. had a negative net margin of 0.99% and a positive return on equity of 16.52%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. On average, analysts expect Potlatch Corp. to post $1.11 EPS for the current fiscal year and $1.46 EPS for the next fiscal year.
Shares of Potlatch Corp. (NASDAQ:PCH) opened at 38.80 on Wednesday. The firm’s 50 day moving average is $38.06 and its 200-day moving average is $35.95. Potlatch Corp. has a 1-year low of $24.01 and a 1-year high of $39.91. The company’s market cap is $1.57 billion.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Friday, September 16th. Potlatch Corp.’s payout ratio is currently -1,000.00%.
A number of analysts recently commented on PCH shares. TheStreet upgraded shares of Potlatch Corp. from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. Zacks Investment Research upgraded shares of Potlatch Corp. from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, July 5th. Buckingham Research cut shares of Potlatch Corp. from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Monday. BMO Capital Markets started coverage on shares of Potlatch Corp. in a research note on Thursday, October 13th. They set a “market perform” rating and a $36.00 price target on the stock. Finally, DA Davidson cut shares of Potlatch Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $56.00 to $40.00 in a research note on Wednesday, July 27th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $39.83.
Several hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC boosted its stake in Potlatch Corp. by 19.6% in the second quarter. A.R.T. Advisors LLC now owns 9,169 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 1,500 shares during the period. Profund Advisors LLC boosted its stake in Potlatch Corp. by 11.3% in the second quarter. Profund Advisors LLC now owns 9,173 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 929 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Potlatch Corp. by 5.1% in the second quarter. Ameritas Investment Partners Inc. now owns 9,572 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 465 shares during the period. Point72 Asset Management L.P. bought a new stake in Potlatch Corp. during the second quarter valued at $510,000. Finally, BlackRock Advisors LLC boosted its stake in Potlatch Corp. by 2.4% in the second quarter. BlackRock Advisors LLC now owns 19,408 shares of the real estate investment trust’s stock valued at $662,000 after buying an additional 447 shares during the period. Hedge funds and other institutional investors own 83.04% of the company’s stock.
Potlatch Corp. Company Profile
Potlatch Corporation is a real estate investment trust (REIT). The Company operates through three segments: Resource, Wood Products and Real Estate. The Resource segment management activities include planting and harvesting trees, and building and maintaining roads. Its activities also include hunting leases, recreation permits and leases, mineral rights leases, biomass production and carbon sequestration.
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