Potlatch Corporation (PCH) Expected to Post Quarterly Sales of $189.89 Million
Equities research analysts forecast that Potlatch Corporation (NASDAQ:PCH) will report sales of $189.89 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Potlatch Corporation’s earnings, with the highest sales estimate coming in at $193.58 million and the lowest estimate coming in at $186.20 million. Potlatch Corporation reported sales of $174.03 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.1%. The business is scheduled to report its next quarterly earnings results on Friday, October 20th.
According to Zacks, analysts expect that Potlatch Corporation will report full year sales of $189.89 million for the current financial year, with estimates ranging from $661.30 million to $679.20 million. For the next year, analysts forecast that the firm will report sales of $708.69 million per share, with estimates ranging from $699.70 million to $717.69 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Potlatch Corporation.
Several brokerages have weighed in on PCH. UBS AG lowered shares of Potlatch Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 27th. BidaskClub raised shares of Potlatch Corporation from a “hold” rating to a “buy” rating in a report on Monday, July 24th. BMO Capital Markets reissued a “hold” rating and set a $40.00 price objective on shares of Potlatch Corporation in a report on Thursday, July 20th. Royal Bank Of Canada reissued a “hold” rating and set a $47.00 price objective on shares of Potlatch Corporation in a report on Monday, July 31st. Finally, Raymond James Financial, Inc. lowered shares of Potlatch Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.80.
Shares of Potlatch Corporation (NASDAQ:PCH) traded up 1.350% during midday trading on Wednesday, reaching $50.675. 451,387 shares of the company were exchanged. The company has a market capitalization of $2.06 billion, a PE ratio of 25.074 and a beta of 1.41. Potlatch Corporation has a 52-week low of $36.35 and a 52-week high of $51.25. The stock’s 50-day moving average price is $46.96 and its 200-day moving average price is $46.12.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, September 14th. Potlatch Corporation’s dividend payout ratio is currently 73.89%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Potlatch Corporation 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 buying an additional 75,874 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Potlatch Corporation 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 buying an additional 251,612 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Potlatch Corporation by 3.9% in 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 buying an additional 59,647 shares during the period. State Street Corp boosted its holdings in shares of Potlatch Corporation by 8.0% in 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 buying an additional 102,275 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Potlatch Corporation by 38.7% in the 1st quarter. Wellington Management Group LLP now owns 1,229,747 shares of the real estate investment trust’s stock valued at $56,200,000 after buying an additional 343,231 shares during the period. 83.25% of the stock is owned by institutional investors and hedge funds.
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Potlatch Corporation Company Profile
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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