$22.70 Million in Sales Expected for Catchmark Timber Trust Inc (CTT) This Quarter

Analysts expect Catchmark Timber Trust Inc (NYSE:CTT) to report $22.70 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Catchmark Timber Trust’s earnings, with the highest sales estimate coming in at $22.90 million and the lowest estimate coming in at $22.50 million. Catchmark Timber Trust posted sales of $20.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.3%. The company is expected to report its next quarterly earnings results after the market closes on Thursday, February 15th.

On average, analysts expect that Catchmark Timber Trust will report full year sales of $22.70 million for the current year, with estimates ranging from $91.00 million to $91.07 million. For the next financial year, analysts anticipate that the company will report sales of $100.68 million per share, with estimates ranging from $98.26 million to $103.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Catchmark Timber Trust.

Several equities analysts have recently weighed in on CTT shares. Stifel Nicolaus decreased their target price on Catchmark Timber Trust from $13.50 to $12.50 and set a “buy” rating on the stock in a research report on Monday, October 16th. Zacks Investment Research downgraded Catchmark Timber Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Finally, Raymond James Financial reiterated a “buy” rating on shares of Catchmark Timber Trust in a research report on Thursday, December 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.75.

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in Catchmark Timber Trust during the fourth quarter worth approximately $104,000. Stelac Advisory Services LLC purchased a new position in Catchmark Timber Trust during the third quarter worth approximately $106,000. SeaCrest Wealth Management LLC purchased a new position in Catchmark Timber Trust during the fourth quarter worth approximately $117,000. Raymond James Trust N.A. purchased a new position in Catchmark Timber Trust during the third quarter worth approximately $137,000. Finally, Sowell Financial Services LLC purchased a new position in Catchmark Timber Trust during the third quarter worth approximately $149,000. Hedge funds and other institutional investors own 71.03% of the company’s stock.

Catchmark Timber Trust (NYSE:CTT) opened at $12.20 on Monday. The firm has a market capitalization of $529.77, a P/E ratio of -35.88 and a beta of 0.65. Catchmark Timber Trust has a 1 year low of $10.47 and a 1 year high of $13.47. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73.

TRADEMARK VIOLATION NOTICE: “$22.70 Million in Sales Expected for Catchmark Timber Trust Inc (CTT) This Quarter” was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was illegally stolen and reposted in violation of international copyright & trademark laws. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/12/22-70-million-in-sales-expected-for-catchmark-timber-trust-inc-ctt-this-quarter.html.

Catchmark Timber Trust Company Profile

CatchMark Timber Trust, Inc is a real estate company investing in timberlands. The Company primarily engages in the ownership, management, acquisition and disposition of timberlands located in the United States. It is focused on investing in timberlands and to manage such assets to provide current income and attractive long-term returns to its stockholders.

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

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