$258.95 Million in Sales Expected for PotlatchDeltic (PCH) This Quarter

Brokerages expect PotlatchDeltic (NASDAQ:PCH) to report sales of $258.95 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for PotlatchDeltic’s earnings. The lowest sales estimate is $248.00 million and the highest is $269.90 million. PotlatchDeltic posted sales of $163.23 million during the same quarter last year, which would indicate a positive year over year growth rate of 58.6%. The business is scheduled to issue its next earnings report on Monday, July 23rd.

According to Zacks, analysts expect that PotlatchDeltic will report full-year sales of $982.00 million for the current financial year, with estimates ranging from $945.90 million to $1.02 billion. For the next year, analysts anticipate that the firm will report sales of $1.03 billion per share, with estimates ranging from $1.00 billion to $1.06 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for PotlatchDeltic.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.69 EPS for the quarter, topping the consensus estimate of $0.61 by $0.08. The firm had revenue of $199.90 million during the quarter, compared to analyst estimates of $168.68 million. PotlatchDeltic had a net margin of 11.54% and a return on equity of 24.94%.

PCH has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of PotlatchDeltic from a “buy” rating to a “sell” rating in a research note on Tuesday, May 1st. BidaskClub upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Royal Bank of Canada upgraded shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research note on Monday, May 7th. BMO Capital Markets boosted their price objective on shares of PotlatchDeltic from $42.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, February 12th. Finally, Vertical Research upgraded shares of PotlatchDeltic to a “hold” rating in a research note on Monday, May 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.67.

Shares of NASDAQ PCH traded down $0.75 during trading hours on Tuesday, hitting $47.70. 511,200 shares of the stock were exchanged, compared to its average volume of 641,955. The company has a quick ratio of 1.87, a current ratio of 2.64 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1.95 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 4.07 and a beta of 1.30. PotlatchDeltic has a 12 month low of $43.15 and a 12 month high of $56.35.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Thursday, June 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 3.35%. PotlatchDeltic’s payout ratio is 67.80%.

In other PotlatchDeltic news, VP William R. Dereu sold 3,690 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $51.83, for a total transaction of $191,252.70. Following the transaction, the vice president now owns 26,895 shares in the company, valued at approximately $1,393,967.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Covey sold 19,414 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $54.41, for a total transaction of $1,056,315.74. The disclosure for this sale can be found here. Insiders have sold a total of 173,669 shares of company stock worth $9,001,448 in the last 90 days. 3.00% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in PCH. BlackRock Inc. increased its stake in shares of PotlatchDeltic by 48.3% in the first quarter. BlackRock Inc. now owns 7,516,937 shares of the real estate investment trust’s stock worth $391,258,000 after acquiring an additional 2,449,758 shares during the period. Millennium Management LLC increased its stake in shares of PotlatchDeltic by 230.6% in the fourth quarter. Millennium Management LLC now owns 901,562 shares of the real estate investment trust’s stock worth $44,988,000 after acquiring an additional 628,836 shares during the period. Capital Growth Management LP acquired a new stake in shares of PotlatchDeltic in the first quarter worth $20,039,000. American Century Companies Inc. increased its stake in shares of PotlatchDeltic by 43.6% in the fourth quarter. American Century Companies Inc. now owns 1,258,456 shares of the real estate investment trust’s stock worth $62,797,000 after acquiring an additional 382,281 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of PotlatchDeltic in the first quarter worth $18,183,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

PotlatchDeltic Company Profile

PotlatchDeltic Corporation (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 land sales program.

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