Zacks Investment Research Downgrades St. Joe (JOE) to Hold

St. Joe (NYSE:JOE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Shares of St. Joe have outperformed its industry in the past six months. Moreover, the Zacks Consensus Estimate for 2018 earnings has been revised upward in a month’s time. In May 2018, the company announced a partnership for a new adult community project, situated in its Bay-Walton Sector Plan. This marks St. Joe’s first adult community of this kind in the area. Notably, St. Joe’s strategy to expand the size and scope of its leasing portfolio as well as resorts and leisure business will likely provide cushion from revenue volatility in other segments. In fact, the company’s continued efforts to enhance its leasing portfolio have enabled it to record encouraging growth in this segment for the 13th consecutive quarter. Nonetheless, inconsistent revenue performance in a number of segments and regional business concentration remain concerns for the company.”

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St. Joe opened at $17.90 on Monday, according to Marketbeat.com. St. Joe has a 1 year low of $16.75 and a 1 year high of $20.00. The firm has a market capitalization of $1.16 billion, a P/E ratio of -119.33 and a beta of 0.94.

St. Joe (NYSE:JOE) last posted its earnings results on Wednesday, April 25th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter. St. Joe had a net margin of 53.04% and a return on equity of 2.10%. The firm had revenue of $19.90 million during the quarter. research analysts anticipate that St. Joe will post 0.09 earnings per share for the current year.

In related news, SVP Patrick Wayne Murphy acquired 1,812 shares of St. Joe stock in a transaction on Thursday, March 15th. The stock was bought at an average cost of $19.32 per share, for a total transaction of $35,007.84. Following the completion of the transaction, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $294,108.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Howard S. Frank acquired 10,000 shares of St. Joe stock in a transaction on Wednesday, May 2nd. The shares were bought at an average price of $17.50 per share, with a total value of $175,000.00. Following the completion of the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $525,000. The disclosure for this purchase can be found here. Insiders have acquired 25,820 shares of company stock valued at $469,991 over the last 90 days. 43.05% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Fairholme Capital Management LLC raised its position in shares of St. Joe by 3.3% in the fourth quarter. Fairholme Capital Management LLC now owns 27,897,499 shares of the financial services provider’s stock valued at $503,550,000 after buying an additional 895,014 shares during the last quarter. Millennium Management LLC raised its position in shares of St. Joe by 58.0% in the fourth quarter. Millennium Management LLC now owns 1,132,241 shares of the financial services provider’s stock valued at $20,437,000 after buying an additional 415,441 shares during the last quarter. Two Sigma Investments LP raised its position in shares of St. Joe by 1,251.9% in the fourth quarter. Two Sigma Investments LP now owns 223,914 shares of the financial services provider’s stock valued at $4,042,000 after buying an additional 207,351 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of St. Joe in the first quarter valued at about $3,348,000. Finally, Paloma Partners Management Co acquired a new stake in shares of St. Joe in the fourth quarter valued at about $3,058,000. Institutional investors own 94.35% of the company’s stock.

St. Joe Company Profile

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Florida, the United States. It operates through four segments: Residential Real Estate, Resorts and Leisure, Commercial Leasing and Sales, and Forestry. The Residential Real Estate segment plans and develops residential communities of various sizes.

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