Analysts Anticipate Catchmark Timber Trust Inc (CTT) to Post -$0.06 EPS

Brokerages expect Catchmark Timber Trust Inc (NYSE:CTT) to report earnings of ($0.06) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Catchmark Timber Trust’s earnings. The lowest EPS estimate is ($0.06) and the highest is ($0.05). Catchmark Timber Trust also posted earnings of ($0.06) per share in the same quarter last year. The firm is expected to issue its next quarterly earnings results on Thursday, August 2nd.

On average, analysts expect that Catchmark Timber Trust will report full year earnings of ($3.93) per share for the current fiscal year, with EPS estimates ranging from ($3.95) to ($3.90). For the next year, analysts expect that the company will report earnings of ($0.78) per share, with EPS estimates ranging from ($1.11) to ($0.16). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Catchmark Timber Trust.

Catchmark Timber Trust (NYSE:CTT) last posted its quarterly earnings data on Friday, May 4th. The financial services provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $24.10 million for the quarter, compared to analyst estimates of $22.38 million. Catchmark Timber Trust had a negative return on equity of 3.76% and a negative net margin of 16.17%.

Several equities analysts have commented on CTT shares. Zacks Investment Research raised Catchmark Timber Trust from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Monday, April 2nd. Stifel Nicolaus upped their price target on Catchmark Timber Trust from $13.50 to $14.00 and gave the company a “buy” rating in a report on Wednesday, April 18th. Royal Bank of Canada started coverage on Catchmark Timber Trust in a report on Wednesday, May 2nd. They issued a “sector perform” rating and a $14.00 price target for the company. ValuEngine raised Catchmark Timber Trust from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, B. Riley started coverage on Catchmark Timber Trust in a report on Tuesday, May 1st. They issued a “buy” rating and a $14.50 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $14.13.

Several hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. grew its stake in shares of Catchmark Timber Trust by 3.5% in the 1st quarter. Baird Financial Group Inc. now owns 119,712 shares of the financial services provider’s stock valued at $1,493,000 after purchasing an additional 4,004 shares during the period. California State Teachers Retirement System grew its stake in shares of Catchmark Timber Trust by 11.1% in the 4th quarter. California State Teachers Retirement System now owns 68,303 shares of the financial services provider’s stock valued at $897,000 after purchasing an additional 6,820 shares during the period. Swiss National Bank grew its stake in shares of Catchmark Timber Trust by 11.0% in the 4th quarter. Swiss National Bank now owns 70,918 shares of the financial services provider’s stock valued at $931,000 after purchasing an additional 7,000 shares during the period. Sowell Financial Services LLC grew its stake in shares of Catchmark Timber Trust by 38.7% in the 1st quarter. Sowell Financial Services LLC now owns 27,945 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 7,801 shares during the period. Finally, LPL Financial LLC grew its stake in shares of Catchmark Timber Trust by 53.2% in the 1st quarter. LPL Financial LLC now owns 22,616 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 7,850 shares during the period. Institutional investors own 76.14% of the company’s stock.

Catchmark Timber Trust stock traded up $0.18 during trading hours on Friday, hitting $12.49. The stock had a trading volume of 15,558 shares, compared to its average volume of 306,396. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.57. The stock has a market cap of $627.04 million, a price-to-earnings ratio of -36.59 and a beta of 0.62. Catchmark Timber Trust has a fifty-two week low of $10.81 and a fifty-two week high of $13.73.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be paid a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $0.54 annualized dividend and a dividend yield of 4.32%. Catchmark Timber Trust’s dividend payout ratio is currently -158.82%.

About Catchmark Timber Trust

CatchMark Timber Trust, Inc (NYSE: CTT) is a self-administered and self-managed, publicly-traded REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests and well-timed sales. Headquartered in Atlanta and focused exclusively on timberland ownership, CatchMark began operations in 2007 and owns interests in approximately 520,800 acres of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas.

Get a free copy of the Zacks research report on Catchmark Timber Trust (CTT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Catchmark Timber Trust (NYSE:CTT)

Receive News & Ratings for Catchmark Timber Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Catchmark Timber Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply