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Why Is St. Joe (JOE) Up 4.9% Since the Last Earnings Report?
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It has been about a month since the last earnings report for St. Joe Company (The) (JOE - Free Report) . Shares have added about 4.9% in that time frame, outperforming the market.
Will the recent positive trend continue leading up to the stock’s next earnings release, or is it due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
St. Joe Q4 Earnings Beat Estimates, Expenses Down
St. Joe reported fourth-quarter 2016 net income per share of $0.04, which compared favorably with the Zacks Consensus Estimate of a loss of $0.02 per share. The company had incurred a loss of $0.03 per share in the year-ago quarter.
Total revenue for the quarter came in at $18.7 million as against $21.1 million in the prior-year period. Decline in real estate revenue mainly pulled down the top-line figure, though the negative was partly offset by an uptick in resorts and leisure revenue, leasing revenue and timber revenue. Nevertheless, the company’s total expenses for the quarter plunged 21.3% from the last year to $19.6 million.
For full-year 2016, the company came up with net income per share of 21 cents, against a net loss of 2 cents in the prior year. Revenues totaled $95.7 million, down 7.9% year over year; while expenses declined 14.7% from the comparable period last year to $93.8 million.
Quarter in Detail
In fourth-quarter 2016, real estate revenue came in at $5.4 million, down from $9.4 million a year ago. The decline was mainly associated with the timing of development of finished lots in the communities of Watersound Origins and Breakfast Point, as well as reduced volume of non-strategic commercial land sales.
However, the company reported increase in resorts and leisure revenues to $9.7 million from $8.8 million in the prior-year quarter. Results reflected broad-base improvement, including an increase in average room rates in both the WaterColor Inn and in the vacation rental program. Moreover, an escalation in total membership, growth in rounds played at the golf courses, solid performance in the food and beverage section, along with increased membership revenue from the St. Joe Club & Resorts private membership club, drove the segment’s results.
In addition, leasing revenues increased to $2.4 million from $2.2 million in the year-earlier quarter. The company owned around 604,000 square feet of rentable commercial space which is 87% leased as of Dec 31, 2016. Of this, the Pier Park North retail center has around 320,000 square feet constructed and is 93% leased.
Timber revenue also increased to $1.2 million from $0.7 million in the year-ago quarter. This was driven by an increase in tons sold.
Finally, St. Joe exited fourth-quarter 2016 with cash, cash equivalents and investments of $416.8 million, up from $404.0 million as of Dec 31, 2015.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
At this time, St. Joe's stock has a subpar Growth Score of 'D', however its momentum is doing a lot better with a 'B'. However, the stock was allocated a grade of 'F' on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of 'F'. If you aren't focused on one strategy, this score is the one you should be interested in.
The stock is suitable solely for momentum based on our styles scores.
Outlook
The stock has a Zacks Rank #3 (Hold). We are expecting an inline return from the stock in the next few months.
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Why Is St. Joe (JOE) Up 4.9% Since the Last Earnings Report?
It has been about a month since the last earnings report for St. Joe Company (The) (JOE - Free Report) . Shares have added about 4.9% in that time frame, outperforming the market.
Will the recent positive trend continue leading up to the stock’s next earnings release, or is it due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
St. Joe Q4 Earnings Beat Estimates, Expenses Down
St. Joe reported fourth-quarter 2016 net income per share of $0.04, which compared favorably with the Zacks Consensus Estimate of a loss of $0.02 per share. The company had incurred a loss of $0.03 per share in the year-ago quarter.
Total revenue for the quarter came in at $18.7 million as against $21.1 million in the prior-year period. Decline in real estate revenue mainly pulled down the top-line figure, though the negative was partly offset by an uptick in resorts and leisure revenue, leasing revenue and timber revenue. Nevertheless, the company’s total expenses for the quarter plunged 21.3% from the last year to $19.6 million.
For full-year 2016, the company came up with net income per share of 21 cents, against a net loss of 2 cents in the prior year. Revenues totaled $95.7 million, down 7.9% year over year; while expenses declined 14.7% from the comparable period last year to $93.8 million.
Quarter in Detail
In fourth-quarter 2016, real estate revenue came in at $5.4 million, down from $9.4 million a year ago. The decline was mainly associated with the timing of development of finished lots in the communities of Watersound Origins and Breakfast Point, as well as reduced volume of non-strategic commercial land sales.
However, the company reported increase in resorts and leisure revenues to $9.7 million from $8.8 million in the prior-year quarter. Results reflected broad-base improvement, including an increase in average room rates in both the WaterColor Inn and in the vacation rental program. Moreover, an escalation in total membership, growth in rounds played at the golf courses, solid performance in the food and beverage section, along with increased membership revenue from the St. Joe Club & Resorts private membership club, drove the segment’s results.
In addition, leasing revenues increased to $2.4 million from $2.2 million in the year-earlier quarter. The company owned around 604,000 square feet of rentable commercial space which is 87% leased as of Dec 31, 2016. Of this, the Pier Park North retail center has around 320,000 square feet constructed and is 93% leased.
Timber revenue also increased to $1.2 million from $0.7 million in the year-ago quarter. This was driven by an increase in tons sold.
Finally, St. Joe exited fourth-quarter 2016 with cash, cash equivalents and investments of $416.8 million, up from $404.0 million as of Dec 31, 2015.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
St. Joe Company (The) Price and Consensus
St. Joe Company (The) Price and Consensus | St. Joe Company (The) Quote
VGM Scores
At this time, St. Joe's stock has a subpar Growth Score of 'D', however its momentum is doing a lot better with a 'B'. However, the stock was allocated a grade of 'F' on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of 'F'. If you aren't focused on one strategy, this score is the one you should be interested in.
The stock is suitable solely for momentum based on our styles scores.
Outlook
The stock has a Zacks Rank #3 (Hold). We are expecting an inline return from the stock in the next few months.