Wall Street brokerages expect that PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) will announce $367.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for PotlatchDeltic’s earnings, with estimates ranging from $340.30 million to $395.00 million. PotlatchDeltic reported sales of $354.19 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The business is scheduled to issue its next earnings results after the market closes on Monday, January 1st.
According to Zacks, analysts expect that PotlatchDeltic will report full year sales of $1.19 billion for the current fiscal year, with estimates ranging from $1.15 billion to $1.22 billion. For the next financial year, analysts forecast that the firm will post sales of $1.09 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow PotlatchDeltic.
PotlatchDeltic (NASDAQ:PCH – Get Rating) last posted its quarterly earnings data on Monday, January 31st. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. PotlatchDeltic had a return on equity of 26.86% and a net margin of 31.69%. During the same quarter in the prior year, the firm posted $1.48 EPS.
PCH has been the topic of several research analyst reports. Royal Bank of Canada raised PotlatchDeltic from a “sector perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Wednesday, February 2nd. StockNews.com assumed coverage on PotlatchDeltic in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Zacks Investment Research raised PotlatchDeltic from a “strong sell” rating to a “strong-buy” rating and set a $66.00 price target for the company in a research note on Wednesday, January 12th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $65.50.
NASDAQ:PCH opened at $54.14 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.34 and a quick ratio of 2.76. PotlatchDeltic has a fifty-two week low of $48.82 and a fifty-two week high of $65.67. The stock’s 50-day moving average is $53.77 and its two-hundred day moving average is $55.16. The stock has a market cap of $3.74 billion, a PE ratio of 8.65 and a beta of 1.23.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Friday, March 4th were paid a $0.44 dividend. This is a boost from PotlatchDeltic’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, March 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.25%. PotlatchDeltic’s payout ratio is presently 28.12%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of PotlatchDeltic by 2.5% in the 4th quarter. BlackRock Inc. now owns 8,703,548 shares of the real estate investment trust’s stock valued at $524,128,000 after buying an additional 212,800 shares in the last quarter. Pictet Asset Management SA boosted its position in PotlatchDeltic by 7.6% during the fourth quarter. Pictet Asset Management SA now owns 3,067,372 shares of the real estate investment trust’s stock worth $184,717,000 after purchasing an additional 217,049 shares during the period. State Street Corp boosted its position in PotlatchDeltic by 2.1% during the fourth quarter. State Street Corp now owns 2,055,154 shares of the real estate investment trust’s stock worth $123,761,000 after purchasing an additional 42,593 shares during the period. Norges Bank bought a new stake in PotlatchDeltic during the fourth quarter worth approximately $105,693,000. Finally, Legal & General Group Plc boosted its position in PotlatchDeltic by 7.4% during the fourth quarter. Legal & General Group Plc now owns 1,433,955 shares of the real estate investment trust’s stock worth $86,353,000 after purchasing an additional 99,263 shares during the period. 82.07% of the stock is owned by institutional investors and hedge funds.
About PotlatchDeltic (Get Rating)
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 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 residential and commercial real estate development business and a rural timberland sales program.
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