We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
St. Joe (JOE) Rides on Lower Expenses: Should You Hold?
Read MoreHide Full Article
On Jan 2, 2017, we issued an updated research report on The St. Joe Company (JOE - Free Report) , the WaterSound, FL-based real estate development and operating company.
The assets and operations of this company are concentrated mainly between Tallahassee and Destin. The company utilizes these assets for residential or commercial real estate developments, resorts, leisure and leasing operations as well as forestry operations on a limited basis.
In November, St. Joe reported third-quarter 2016 net income per share of 4 cents, which surpassed the Zacks Consensus Estimate of 2 cents and came ahead of the year-ago quarter tally of 3 cents. Lower expenses contributed to this beat. In fact, during the quarter, the company’s operating and corporate expenses declined by $4.7 million or 47% from the year- ago quarter and reflected a reduction in employee-related costs and professional fees. Total expenses for the quarter fell 15.2% from a year ago to $25.6 million.
However, volatility in sales in a number of segments at the company is a major concern. In fact, St. Joe’s forestry operations have historically been a significant contributor to its income. This segment generated a consistent revenue flow. However, following the AgReserves Sale, income from forestry operations has reduced, leading to variability in its period-to-period operational results and cash flows.
Over the past three months, shares of St. Joe recorded an increase of 4.6% compared with a gain of 4.8% posted by the Zacks categorized Real Estate - Development industry. The company’s 2016 estimates remained unchanged at 15 cents per share, over the past 30 days.
Forestar Group’s current-year estimates have moved up significantly to $1.62 per share, over the past 60 days.
PennyMac Mortgage Investment Trust’s current-year estimates have moved up 18.2% over the past 60 days to $1.04 per share.
RE/MAX Holdings’s current-year estimates have moved up 1.8% over the past 60 days to $1.69 per share.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
St. Joe (JOE) Rides on Lower Expenses: Should You Hold?
On Jan 2, 2017, we issued an updated research report on The St. Joe Company (JOE - Free Report) , the WaterSound, FL-based real estate development and operating company.
The assets and operations of this company are concentrated mainly between Tallahassee and Destin. The company utilizes these assets for residential or commercial real estate developments, resorts, leisure and leasing operations as well as forestry operations on a limited basis.
In November, St. Joe reported third-quarter 2016 net income per share of 4 cents, which surpassed the Zacks Consensus Estimate of 2 cents and came ahead of the year-ago quarter tally of 3 cents. Lower expenses contributed to this beat. In fact, during the quarter, the company’s operating and corporate expenses declined by $4.7 million or 47% from the year- ago quarter and reflected a reduction in employee-related costs and professional fees. Total expenses for the quarter fell 15.2% from a year ago to $25.6 million.
However, volatility in sales in a number of segments at the company is a major concern. In fact, St. Joe’s forestry operations have historically been a significant contributor to its income. This segment generated a consistent revenue flow. However, following the AgReserves Sale, income from forestry operations has reduced, leading to variability in its period-to-period operational results and cash flows.
Over the past three months, shares of St. Joe recorded an increase of 4.6% compared with a gain of 4.8% posted by the Zacks categorized Real Estate - Development industry. The company’s 2016 estimates remained unchanged at 15 cents per share, over the past 30 days.
St. Joe currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space include Forestar Group Inc. (FOR - Free Report) , PennyMac Mortgage Investment Trust (PMT - Free Report) and RE/MAX Holdings, Inc. (RMAX - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Forestar Group’s current-year estimates have moved up significantly to $1.62 per share, over the past 60 days.
PennyMac Mortgage Investment Trust’s current-year estimates have moved up 18.2% over the past 60 days to $1.04 per share.
RE/MAX Holdings’s current-year estimates have moved up 1.8% over the past 60 days to $1.69 per share.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>