Intrinsic value of PotlatchDeltic - PCH

Previous Close

$47.70

  Intrinsic Value

$87.20

stock screener

  Rating & Target

str. buy

+83%

Previous close

$47.70

 
Intrinsic value

$87.20

 
Up/down potential

+83%

 
Rating

str. buy

Our model is not good at valuating stocks of financial companies, such as PCH.

We calculate the intrinsic value of PCH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  13.30
  12.47
  11.72
  11.05
  10.45
  9.90
  9.41
  8.97
  8.57
  8.22
  7.89
  7.60
  7.34
  7.11
  6.90
  6.71
  6.54
  6.38
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
Revenue, $m
  769
  865
  967
  1,073
  1,186
  1,303
  1,426
  1,554
  1,687
  1,825
  1,969
  2,119
  2,275
  2,436
  2,605
  2,779
  2,961
  3,150
  3,347
  3,552
  3,765
  3,988
  4,220
  4,462
  4,714
  4,978
  5,254
  5,542
  5,843
  6,158
Variable operating expenses, $m
  142
  159
  178
  198
  218
  240
  262
  286
  310
  336
  362
  390
  419
  448
  479
  511
  545
  580
  616
  654
  693
  734
  776
  821
  867
  916
  967
  1,020
  1,075
  1,133
Fixed operating expenses, $m
  423
  432
  442
  452
  462
  472
  482
  493
  504
  515
  526
  538
  549
  561
  574
  586
  599
  613
  626
  640
  654
  668
  683
  698
  713
  729
  745
  761
  778
  795
Total operating expenses, $m
  565
  591
  620
  650
  680
  712
  744
  779
  814
  851
  888
  928
  968
  1,009
  1,053
  1,097
  1,144
  1,193
  1,242
  1,294
  1,347
  1,402
  1,459
  1,519
  1,580
  1,645
  1,712
  1,781
  1,853
  1,928
Operating income, $m
  205
  274
  347
  424
  506
  592
  681
  775
  873
  975
  1,081
  1,192
  1,307
  1,427
  1,552
  1,681
  1,817
  1,958
  2,105
  2,258
  2,418
  2,586
  2,760
  2,943
  3,133
  3,333
  3,542
  3,761
  3,989
  4,229
EBITDA, $m
  287
  366
  450
  539
  632
  730
  833
  941
  1,053
  1,169
  1,291
  1,418
  1,549
  1,686
  1,829
  1,978
  2,133
  2,294
  2,462
  2,637
  2,820
  3,011
  3,210
  3,418
  3,636
  3,864
  4,102
  4,351
  4,612
  4,886
Interest expense (income), $m
  28
  30
  36
  41
  47
  53
  60
  67
  74
  82
  89
  98
  106
  115
  124
  134
  143
  154
  164
  175
  187
  199
  212
  225
  238
  253
  267
  283
  299
  316
  334
Earnings before tax, $m
  174
  238
  306
  377
  452
  532
  614
  701
  791
  885
  983
  1,086
  1,192
  1,303
  1,418
  1,538
  1,663
  1,794
  1,930
  2,071
  2,219
  2,374
  2,536
  2,704
  2,881
  3,066
  3,259
  3,461
  3,673
  3,896
Tax expense, $m
  47
  64
  83
  102
  122
  144
  166
  189
  214
  239
  266
  293
  322
  352
  383
  415
  449
  484
  521
  559
  599
  641
  685
  730
  778
  828
  880
  935
  992
  1,052
Net income, $m
  127
  174
  223
  275
  330
  388
  448
  512
  578
  646
  718
  792
  870
  951
  1,035
  1,123
  1,214
  1,309
  1,409
  1,512
  1,620
  1,733
  1,851
  1,974
  2,103
  2,238
  2,379
  2,527
  2,682
  2,844

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,028
  1,157
  1,292
  1,435
  1,585
  1,742
  1,906
  2,077
  2,255
  2,440
  2,633
  2,833
  3,041
  3,257
  3,482
  3,716
  3,959
  4,211
  4,474
  4,748
  5,034
  5,331
  5,641
  5,965
  6,302
  6,655
  7,023
  7,409
  7,811
  8,232
Adjusted assets (=assets-cash), $m
  1,028
  1,157
  1,292
  1,435
  1,585
  1,742
  1,906
  2,077
  2,255
  2,440
  2,633
  2,833
  3,041
  3,257
  3,482
  3,716
  3,959
  4,211
  4,474
  4,748
  5,034
  5,331
  5,641
  5,965
  6,302
  6,655
  7,023
  7,409
  7,811
  8,232
Revenue / Adjusted assets
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
Average production assets, $m
  820
  922
  1,030
  1,144
  1,264
  1,389
  1,520
  1,656
  1,798
  1,946
  2,099
  2,259
  2,425
  2,597
  2,776
  2,963
  3,156
  3,358
  3,568
  3,786
  4,014
  4,251
  4,498
  4,756
  5,025
  5,306
  5,600
  5,907
  6,228
  6,564
Working capital, $m
  -5
  -6
  -7
  -8
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -21
  -22
  -23
  -25
  -26
  -28
  -30
  -31
  -33
  -35
  -37
  -39
  -41
  -43
Total debt, $m
  658
  763
  873
  989
  1,111
  1,239
  1,373
  1,512
  1,657
  1,808
  1,964
  2,127
  2,297
  2,473
  2,656
  2,846
  3,044
  3,249
  3,463
  3,686
  3,919
  4,161
  4,413
  4,676
  4,951
  5,238
  5,538
  5,852
  6,180
  6,522
Total liabilities, $m
  837
  942
  1,052
  1,168
  1,290
  1,418
  1,551
  1,691
  1,836
  1,986
  2,143
  2,306
  2,475
  2,651
  2,834
  3,025
  3,222
  3,428
  3,642
  3,865
  4,097
  4,339
  4,592
  4,855
  5,130
  5,417
  5,717
  6,031
  6,358
  6,701
Total equity, $m
  191
  215
  240
  267
  295
  324
  355
  386
  419
  454
  490
  527
  566
  606
  648
  691
  736
  783
  832
  883
  936
  992
  1,049
  1,109
  1,172
  1,238
  1,306
  1,378
  1,453
  1,531
Total liabilities and equity, $m
  1,028
  1,157
  1,292
  1,435
  1,585
  1,742
  1,906
  2,077
  2,255
  2,440
  2,633
  2,833
  3,041
  3,257
  3,482
  3,716
  3,958
  4,211
  4,474
  4,748
  5,033
  5,331
  5,641
  5,964
  6,302
  6,655
  7,023
  7,409
  7,811
  8,232
Debt-to-equity ratio
  3.440
  3.550
  3.630
  3.710
  3.770
  3.820
  3.870
  3.910
  3.950
  3.980
  4.010
  4.040
  4.060
  4.080
  4.100
  4.120
  4.130
  4.150
  4.160
  4.170
  4.190
  4.200
  4.210
  4.220
  4.220
  4.230
  4.240
  4.250
  4.250
  4.260
Adjusted equity ratio
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  127
  174
  223
  275
  330
  388
  448
  512
  578
  646
  718
  792
  870
  951
  1,035
  1,123
  1,214
  1,309
  1,409
  1,512
  1,620
  1,733
  1,851
  1,974
  2,103
  2,238
  2,379
  2,527
  2,682
  2,844
Depreciation, amort., depletion, $m
  82
  92
  103
  114
  126
  139
  152
  166
  180
  195
  210
  226
  242
  260
  278
  296
  316
  336
  357
  379
  401
  425
  450
  476
  503
  531
  560
  591
  623
  656
Funds from operations, $m
  209
  266
  326
  390
  457
  527
  600
  677
  757
  841
  928
  1,018
  1,113
  1,211
  1,313
  1,419
  1,530
  1,645
  1,765
  1,891
  2,022
  2,158
  2,301
  2,450
  2,606
  2,769
  2,939
  3,118
  3,304
  3,500
Change in working capital, $m
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
Cash from operations, $m
  210
  267
  327
  391
  457
  528
  601
  678
  758
  842
  929
  1,019
  1,114
  1,212
  1,314
  1,420
  1,531
  1,646
  1,767
  1,892
  2,023
  2,160
  2,302
  2,451
  2,607
  2,770
  2,941
  3,120
  3,307
  3,502
Maintenance CAPEX, $m
  -72
  -82
  -92
  -103
  -114
  -126
  -139
  -152
  -166
  -180
  -195
  -210
  -226
  -242
  -260
  -278
  -296
  -316
  -336
  -357
  -379
  -401
  -425
  -450
  -476
  -503
  -531
  -560
  -591
  -623
New CAPEX, $m
  -97
  -102
  -108
  -114
  -120
  -125
  -131
  -136
  -142
  -148
  -154
  -160
  -166
  -172
  -179
  -186
  -194
  -202
  -210
  -218
  -228
  -237
  -247
  -258
  -269
  -281
  -294
  -307
  -321
  -336
Cash from investing activities, $m
  -169
  -184
  -200
  -217
  -234
  -251
  -270
  -288
  -308
  -328
  -349
  -370
  -392
  -414
  -439
  -464
  -490
  -518
  -546
  -575
  -607
  -638
  -672
  -708
  -745
  -784
  -825
  -867
  -912
  -959
Free cash flow, $m
  41
  82
  127
  174
  223
  276
  332
  390
  451
  514
  581
  650
  722
  797
  875
  956
  1,041
  1,129
  1,221
  1,317
  1,417
  1,521
  1,630
  1,744
  1,862
  1,987
  2,117
  2,253
  2,395
  2,544
Issuance/(repayment) of debt, $m
  99
  104
  110
  116
  122
  128
  133
  139
  145
  151
  157
  163
  169
  176
  183
  190
  198
  206
  214
  223
  232
  242
  252
  263
  275
  287
  300
  313
  328
  343
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  99
  104
  110
  116
  122
  128
  133
  139
  145
  151
  157
  163
  169
  176
  183
  190
  198
  206
  214
  223
  232
  242
  252
  263
  275
  287
  300
  313
  328
  343
Total cash flow (excl. dividends), $m
  141
  187
  237
  290
  346
  404
  465
  529
  596
  665
  737
  813
  891
  973
  1,058
  1,147
  1,239
  1,335
  1,435
  1,540
  1,649
  1,763
  1,882
  2,007
  2,137
  2,274
  2,416
  2,566
  2,723
  2,887
Retained Cash Flow (-), $m
  -22
  -24
  -25
  -27
  -28
  -29
  -30
  -32
  -33
  -34
  -36
  -37
  -39
  -40
  -42
  -43
  -45
  -47
  -49
  -51
  -53
  -55
  -58
  -60
  -63
  -66
  -69
  -72
  -75
  -78
Prev. year cash balance distribution, $m
  31
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  5
  5
  6
  7
  8
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  18
  19
  21
  22
  23
  25
  26
  28
  30
  31
  33
  35
  37
  39
  41
Cash available for distribution, $m
  150
  163
  212
  263
  318
  375
  435
  497
  563
  631
  702
  776
  853
  933
  1,016
  1,103
  1,194
  1,288
  1,386
  1,489
  1,596
  1,708
  1,825
  1,947
  2,075
  2,208
  2,348
  2,494
  2,648
  2,808
Discount rate, %
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
PV of cash for distribution, $m
  140
  142
  170
  194
  212
  226
  234
  237
  235
  228
  217
  203
  187
  168
  149
  129
  110
  92
  75
  60
  47
  36
  27
  19
  14
  9
  6
  4
  3
  2
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products. It operates through three segments: Resource, Wood Products and Real Estate. Its primary objectives include using its timberland investments to generate income and maximizing the long-term value of its assets. Its Resource segment manages its timberlands. Its Wood Products segment manufactures and markets lumber, plywood and residual products at mills located in Arkansas, Idaho, Michigan and Minnesota. The activities of its Real Estate segment consist primarily of the sale of non-core timberlands in the categories of higher and better use (HBU), rural recreational real estate and non-strategic properties.

FINANCIAL RATIOS  of  PotlatchDeltic (PCH)

Valuation Ratios
P/E Ratio 175.7
Price to Sales 3.2
Price to Book 12.4
Price to Tangible Book
Price to Cash Flow 18.9
Price to Free Cash Flow 23.3
Growth Rates
Sales Growth Rate 4.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -42.4%
Cap. Spend. - 3 Yr. Gr. Rate -4.6%
Financial Strength
Quick Ratio 8
Current Ratio 0.2
LT Debt to Equity 367.3%
Total Debt to Equity 374.4%
Interest Coverage 1
Management Effectiveness
Return On Assets 5.7%
Ret/ On Assets - 3 Yr. Avg. 8.3%
Return On Total Capital 1.4%
Ret/ On T. Cap. - 3 Yr. Avg. 6.1%
Return On Equity 6.1%
Return On Equity - 3 Yr. Avg. 21%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 22.9%
Gross Margin - 3 Yr. Avg. 23.4%
EBITDA Margin 11.5%
EBITDA Margin - 3 Yr. Avg. 18%
Operating Margin 5.8%
Oper. Margin - 3 Yr. Avg. 12.7%
Pre-Tax Margin 1.2%
Pre-Tax Margin - 3 Yr. Avg. 7.9%
Net Profit Margin 1.8%
Net Profit Margin - 3 Yr. Avg. 7.4%
Effective Tax Rate -57.1%
Eff/ Tax Rate - 3 Yr. Avg. -20.7%
Payout Ratio 554.5%

PCH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PCH stock intrinsic value calculation we used $679 million for the last fiscal year's total revenue generated by PotlatchDeltic. The default revenue input number comes from 2017 income statement of PotlatchDeltic. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PCH stock valuation model: a) initial revenue growth rate of 13.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.9%, whose default value for PCH is calculated based on our internal credit rating of PotlatchDeltic, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of PotlatchDeltic.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PCH stock the variable cost ratio is equal to 18.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $414 million in the base year in the intrinsic value calculation for PCH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for PotlatchDeltic.

Corporate tax rate of 27% is the nominal tax rate for PotlatchDeltic. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PCH stock is equal to 0.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PCH are equal to 106.6%.

Life of production assets of 10 years is the average useful life of capital assets used in PotlatchDeltic operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PCH is equal to -0.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $201 million for PotlatchDeltic - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 41 million for PotlatchDeltic is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of PotlatchDeltic at the current share price and the inputted number of shares is $2.0 billion.

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COMPANY NEWS

▶ Potlatch Corporation to Host Earnings Call   [Jul-31-18 10:00AM  ACCESSWIRE]
▶ Charts Suggest Timber and Forestry Stocks Set to Drop   [Jul-03-18 09:10AM  Investopedia]
▶ PotlatchDeltic Board Declares Distribution on Common Stock   [May-09-18 01:30PM  GlobeNewswire]
▶ Potlatch: 1Q Earnings Snapshot   [May-04-18 05:04AM  Associated Press]
▶ Edited Transcript of PCH presentation 8-Mar-17 4:00pm GMT   [Apr-10-18 01:32PM  Thomson Reuters StreetEvents]
▶ Top Ranked Income Stocks to Buy for March 29th   [Mar-29-18 07:49AM  Zacks]
▶ Potlatch and Deltic Timber Complete Merger   [Feb-20-18 06:20PM  GlobeNewswire]
▶ Tax-Favored Money Grows On Trees   [04:52PM  Forbes]
▶ Bull of the Day: Potlatch (PCH)   [06:47AM  Zacks]
▶ Potlatch Corporation to Host Earnings Call   [Jan-30-18 09:00AM  ACCESSWIRE]
▶ Potlatch misses 4Q profit forecasts   [05:03AM  Associated Press]
▶ Potlatch Earnings Preview   [12:40PM  Benzinga]
▶ 5 Best Stocks Worth Buying on Upgraded Broker Ratings   [Jan-08-18 03:00PM  InvestorPlace]
▶ Stocks With Rising Relative Strength: Potlatch   [03:00AM  Investor's Business Daily]
▶ Stocks With Rising Relative Strength: Potlatch   [03:00AM  Investor's Business Daily]
▶ How to Invest in Lumber   [Nov-27-17 08:10AM  Motley Fool]
▶ Why Potlatch (PCH) Stock Might be a Great Pick   [Nov-24-17 08:51AM  Zacks]
▶ Stocks With Rising Relative Price Strength: Potlatch   [Nov-02-17 03:00AM  Investor's Business Daily]
▶ [$$] Potlatch to Combine With Deltic Timber in Stock Swap   [12:13AM  The Wall Street Journal]
▶ [$$] Potlatch to Combine With Deltic Timber in Stock Swap   [Oct-23-17 01:28PM  The Wall Street Journal]
▶ Weyerhauser's Charts Looks Constructive   [10:23AM  TheStreet.com]
▶ When Should You Buy Potlatch Corporation (PCH)?   [09:36AM  Simply Wall St.]
▶ Potlatch beats 3Q profit forecasts   [07:07AM  Associated Press]
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