Buying Opportunity • Sep 14
Now 24% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be US$13.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 6.6% in a year. Earnings is forecast to decline by 109% in the next year. Buying Opportunity • Aug 17
Now 21% undervalued Over the last 90 days, the stock is up 37%. The fair value is estimated to be US$13.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 6.6% in a year. Earnings is forecast to decline by 109% in the next year. Reported Earnings • Aug 05
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: US$0.094 loss per share (down from US$0.036 profit in 2Q 2021). Revenue: US$24.6m (down 23% from 2Q 2021). Net loss: US$4.55m (down 360% from profit in 2Q 2021). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 239%. Over the next year, revenue is expected to shrink by 8.3% compared to a 7.9% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jun 10
Now 21% undervalued Over the last 90 days, the stock is up 35%. The fair value is estimated to be US$13.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 16% in a year. Earnings is forecast to decline by 109% in the next year. Major Estimate Revision • Jun 08
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 losses forecast to reduce from -US$0.11 to -US$0.05 per share. Revenue forecast steady at US$85.0m. REITs industry in the US expected to see average net income decline 6.7% next year. Consensus price target up from US$9.10 to US$11.15. Share price was steady at US$11.71 over the past week. Price Target Changed • Jun 01
Price target increased to US$10.15 Up from US$9.10, the current price target is an average from 5 analysts. New target price is 13% below last closing price of US$11.68. The company is forecast to post a net loss per share of US$0.11 compared to earnings per share of US$1.20 last year. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 46% share price gain to US$11.79, the stock trades at a trailing P/E ratio of 9.4x. Average forward P/E is 38x in the REITs industry in the US. Total returns to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$12.80 per share. Upcoming Dividend • May 20
Upcoming dividend of US$0.075 per share Eligible shareholders must have bought the stock before 27 May 2022. Payment date: 15 June 2022. Trailing yield: 3.8%. Lower than top quartile of American dividend payers (4.1%). In line with average of industry peers (3.5%). Reported Earnings • May 06
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: US$0.066 (up from US$0.011 loss in 1Q 2021). Revenue: US$26.9m (down 4.8% from 1Q 2021). Net income: US$3.18m (up US$3.73m from 1Q 2021). Profit margin: 12% (up from net loss in 1Q 2021). Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is expected to shrink by 16% compared to a 9.7% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 18
Upcoming dividend of US$0.075 per share Eligible shareholders must have bought the stock before 25 February 2022. Payment date: 15 March 2022. Trailing yield: 3.7%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (3.1%). Major Estimate Revision • Feb 17
Consensus EPS estimates fall by 44% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$91.0m to US$84.6m. Losses expected to increase from US$0.12 per share to US$0.18. REITs industry in the US expected to see average net income decline 6.0% next year. Consensus price target broadly unchanged at US$9.05. Share price was steady at US$8.17 over the past week. Reported Earnings • Feb 12
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: US$1.20 (up from US$0.36 loss in FY 2020). Revenue: US$102.2m (down 2.3% from FY 2020). Net income: US$58.3m (up US$75.8m from FY 2020). Profit margin: 57% (up from net loss in FY 2020). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 2.0%. Over the next year, revenue is expected to shrink by 11% compared to a 9.9% growth forecast for the reits industry in the US. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 17% share price gain to US$8.42, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 50x in the REITs industry in the US. Total returns to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$5.65 per share. Upcoming Dividend • Nov 22
Upcoming dividend of US$0.075 per share Eligible shareholders must have bought the stock before 29 November 2021. Payment date: 15 December 2021. Trailing yield: 3.6%. Within top quartile of American dividend payers (3.5%). Higher than average of industry peers (2.9%). Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS US$0.48 (vs US$0.085 loss in 3Q 2020) Third quarter 2021 results: Revenue: US$22.1m (down 12% from 3Q 2020). Net income: US$23.3m (up US$27.4m from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 16
Price target decreased to US$10.50 Down from US$13.04, the current price target is an average from 5 analysts. New target price is 12% above last closing price of US$9.40. Stock is up 11% over the past year. Upcoming Dividend • Aug 23
Upcoming dividend of US$0.14 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 15 September 2021. Trailing yield: 4.7%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 08
Second quarter 2021 earnings released: EPS US$0.036 (vs US$0.13 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$32.0m (up 47% from 2Q 2020). Net income: US$1.75m (up US$7.93m from 2Q 2020). Profit margin: 5.5% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Breakeven Date Change • Aug 06
Forecast to breakeven in 2021 The 5 analysts covering CatchMark Timber Trust expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$438.7k in 2021. Upcoming Dividend • May 20
Upcoming dividend of US$0.14 per share Eligible shareholders must have bought the stock before 27 May 2021. Payment date: 15 June 2021. Trailing yield: 4.5%. Within top quartile of American dividend payers (3.4%). Higher than average of industry peers (3.1%). Reported Earnings • May 07
First quarter 2021 earnings released: US$0.011 loss per share (vs US$0.087 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$27.7m (up 3.0% from 1Q 2020). Net loss: US$550.0k (loss narrowed 87% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 28
Price target increased to US$11.83 Up from US$11.00, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of US$11.57. Stock is up 46% over the past year. Reported Earnings • Mar 01
Full year 2020 earnings released: US$0.36 loss per share (vs US$1.90 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$104.6m (down 2.9% from FY 2019). Net loss: US$17.5m (loss narrowed 81% from FY 2019). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Mar 01
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 1.4%. Over the next year, revenue is forecast to stay flat compared to a 5.1% growth forecast for the REITs industry in the US. Reported Earnings • Feb 13
Full year 2020 earnings released: US$0.36 loss per share (vs US$1.90 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$104.6m (down 2.9% from FY 2019). Net loss: US$17.5m (loss narrowed 81% from FY 2019). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 13
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 2.3%, compared to a 2.8% growth forecast for the REITs industry in the US. Is New 90 Day High Low • Feb 06
New 90-day high: US$10.41 The company is up 18% from its price of US$8.83 on 06 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$14.33 per share. Is New 90 Day High Low • Dec 16
New 90-day high: US$9.97 The company is up 7.0% from its price of US$9.32 on 16 September 2020. The American market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the REITs industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$15.10 per share. Upcoming Dividend • Nov 20
Upcoming Dividend of US$0.14 Per Share Will be paid on the 15th of December to those who are registered shareholders by the 27th of November. The trailing yield of 5.6% is in the top quartile of American dividend payers (4.2%), and it is higher than industry peers (3.4%). Reported Earnings • Nov 03
Third quarter 2020 earnings released: US$0.085 loss per share The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: US$25.0m (down 7.5% from 3Q 2019). Net loss: US$4.15m (loss narrowed 80% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 03
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the next year, revenue is forecast to grow 2.3%, compared to a 1.9% growth forecast for the REITs industry in the US. Reported Earnings • Oct 31
Third quarter earnings released Over the last 12 months the company has reported total losses of US$26.4m, with losses narrowing by 78% from the prior year. Total revenue was US$103.4m over the last 12 months, up 1.9% from the prior year. Note: Net income excluding extraordinary items provided as the company does not report funds from operations. Analyst Estimate Surprise Post Earnings • Oct 31
Third-quarter earnings released: Revenue beats expectations, earnings disappoint Third-quarter revenue exceeded analyst estimates by 4.3% at US$24.6m. Earnings per share (EPS) missed analyst estimates by 18% at -US$0.09. Revenue is forecast to grow 2.1% over the next year, compared to a 1.8% growth forecast for the REITs industry in the US. Is New 90 Day High Low • Oct 20
New 90-day low: US$8.25 The company is down 15% from its price of US$9.71 on 22 July 2020. The American market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$11.36 per share. Announcement • Sep 30
CatchMark Timber Trust, Inc. to Report Q3, 2020 Results on Oct 29, 2020 CatchMark Timber Trust, Inc. announced that they will report Q3, 2020 results on Oct 29, 2020 Announcement • Jul 02
CatchMark Timber Trust, Inc.(NYSE:CTT) dropped from Russell 2000 Defensive Index CatchMark Timber Trust, Inc.(NYSE:CTT) dropped from Russell 2000 Defensive Index