CatchMark (CTT) got here out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of a lack of $0.04 per share. This compares to lack of $0.13 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 200%. 1 / 4 in the past, it was anticipated that this timberlands actual property funding belief would submit a lack of $0.04 per share when it really produced a lack of $0.01, delivering a shock of 75%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates two occasions.
CatchMark, which belongs to the Zacks Constructing Merchandise – Wooden business, posted revenues of $31.94 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 14.61%. This compares to year-ago revenues of $21.76 million. The corporate has topped consensus income estimates 4 occasions during the last 4 quarters.
The sustainability of the inventory’s fast value motion based mostly on the recently-released numbers and future earnings expectations will largely rely on administration’s commentary on the earnings name.
CatchMark shares have added about 23.3% because the starting of the yr versus the S&P 500’s acquire of 17.2%.
What’s Subsequent for CatchMark?
Whereas CatchMark has outperformed the market to this point this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified recently.
Empirical analysis reveals a powerful correlation between near-term inventory actions and developments in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a formidable monitor report of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for CatchMark was unfavorable. Whereas the magnitude and route of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #4 (Promote) for the inventory. So, the shares are anticipated to underperform the market within the close to future. You’ll be able to see the entire record of right this moment’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.09 on $24.81 million in revenues for the approaching quarter and -$0.14 on $104.87 million in revenues for the present fiscal yr.
Buyers needs to be conscious of the truth that the outlook for the business can have a fabric affect on the efficiency of the inventory as effectively. When it comes to the Zacks Trade Rank, Constructing Merchandise – Wooden is presently within the backside 13% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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