Equities analysts forecast that PotlatchDeltic Co. (NASDAQ:PCH) will post sales of $430.45 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for PotlatchDeltic's earnings, with estimates ranging from $392.90 million to $468.00 million. PotlatchDeltic reported sales of $181.56 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 137.1%. The company is scheduled to announce its next earnings report after the market closes on Monday, July 26th.
On average, analysts expect that PotlatchDeltic will report full-year sales of $1.45 billion for the current financial year, with estimates ranging from $1.42 billion to $1.48 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.14 billion. Zacks' sales averages are an average based on a survey of sell-side research firms that cover PotlatchDeltic.
PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings data on Sunday, April 25th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.76 by $0.18. The business had revenue of $354.20 million for the quarter, compared to the consensus estimate of $331.65 million. PotlatchDeltic had a net margin of 26.53% and a return on equity of 24.67%. The company's quarterly revenue was up 69.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.25) EPS.
A number of research analysts have issued reports on the stock. Raymond James boosted their price objective on shares of PotlatchDeltic from $61.00 to $79.00 and gave the company a "strong-buy" rating in a research report on Monday, April 26th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $61.00 target price (up from $58.00) on shares of PotlatchDeltic in a research report on Tuesday, May 4th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $65.00 target price (up from $58.00) on shares of PotlatchDeltic in a research report on Tuesday, May 4th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock has a consensus rating of "Hold" and an average price target of $63.25.
In related news, CEO Eric J. Cremers sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $60.72, for a total value of $1,214,400.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael J. Covey sold 79,741 shares of the business's stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $60.09, for a total value of $4,791,636.69. The disclosure for this sale can be found here. Insiders sold 144,122 shares of company stock worth $8,676,384 in the last quarter. 2.00% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of PCH. Norges Bank acquired a new stake in PotlatchDeltic in the 4th quarter valued at about $44,605,000. Nuveen Asset Management LLC boosted its stake in shares of PotlatchDeltic by 166.1% in the first quarter. Nuveen Asset Management LLC now owns 1,027,707 shares of the real estate investment trust's stock valued at $54,386,000 after buying an additional 641,446 shares in the last quarter. BlackRock Inc. boosted its stake in shares of PotlatchDeltic by 3.8% in the first quarter. BlackRock Inc. now owns 8,669,780 shares of the real estate investment trust's stock valued at $458,804,000 after buying an additional 317,880 shares in the last quarter. Prudential Financial Inc. raised its holdings in PotlatchDeltic by 38.6% during the first quarter. Prudential Financial Inc. now owns 845,380 shares of the real estate investment trust's stock worth $44,738,000 after purchasing an additional 235,572 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in PotlatchDeltic by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,133,622 shares of the real estate investment trust's stock worth $106,724,000 after purchasing an additional 205,392 shares during the last quarter. Institutional investors own 82.07% of the company's stock.
Shares of PotlatchDeltic stock opened at $51.72 on Thursday. The company has a current ratio of 3.09, a quick ratio of 2.71 and a debt-to-equity ratio of 0.48. The firm's fifty day moving average is $55.25. The stock has a market cap of $3.47 billion, a P/E ratio of 11.10 and a beta of 1.31. PotlatchDeltic has a 12-month low of $38.46 and a 12-month high of $65.67.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Friday, June 4th were issued a $0.41 dividend. The ex-dividend date was Thursday, June 3rd. This represents a $1.64 annualized dividend and a dividend yield of 3.17%. PotlatchDeltic's payout ratio is currently 55.78%.
PotlatchDeltic Company Profile
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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