red toy house placed on table with pile of coins

Four Corners Property Trust (NYSE:FCPT) Q3 2020 Earnings Prep

in EARNINGS/INVESTING IDEAS by

Four Corners Property Trust, Inc. (NYSE:FCPT) is scheduled to report Q3 earnings results after markets close for trading on October 27, 2020.

The company is expected to report earnings of $0.27/share on revenue of $42.253 million. The consensus earnings per share (EPS) of $0.27/share is based on a poll of 3 analysts and represents growth in eps of 0.0% over the same quarter last year when the company reported the same result.

The revenue forecast of $42.253 million based on a poll of 3 analysts implies a year-over-year (YoY) growth in revenue of 5.2%. Last year the company reported $40.183 million in revenue for the quarter.

Expected to report EPS contraction of 0.0% for Q3, 2020
Metric Expected Prior Year YoY Change
Revenue $42.25 $40.18 5.2%
EPS $0.27 $0.27 0.0%

Earnings Call Trends

Historically, management has exceeded analyst expectations 1 out of the last 8 tracked quarters, missed 3 quarters, and met expectations 4 quarters.

What are your expectations from Four Corners Property Trust, Inc. for earnings this quarter? Let us know in the comments!

Analyst Expected vs. Reported EPS
Quarter Expected Reported Surprise Result
Q2, 2020 $0.26 $0.26 0% Met
Q1, 2020 $0.28 $0.27 −2.5% Missed
Q4, 2019 $0.27 $0.27 0% Met
Q3, 2019 $0.27 $0.27 0% Met
Q2, 2019 $0.27 $0.26 −1.9% Missed
Q1, 2019 $0.26 $0.26 0.0% Met
Q4, 2018 $0.26 $0.25 −5.0% Missed
Q3, 2018 $0.26 $0.27 3.8% Beat

In the following table, we summarize the company’s stock price movements after earnings releases. The “Price Day Prior” column shows the closing stock price on the day before the earnings report, and the “Price Next Day” column shows the stock price at the end of the trading day after the earnings report. After the last earnings report for the period ending June 30, 2020, the stock price reacted by increasing 2.3%.

Stock Price Performance After Earnings
Report Date Price Day Prior Price Next Day Change % Result
July 29, 2020 $23.79 $24.33 2.3% Increase
May 6, 2020 $20.97 $21.16 0.9% Increase
February 12, 2020 $31.14 $31.90 2.4% Increase
October 30, 2019 $28.41 $28.65 0.8% Increase

The other question to consider is one of earnings manipulation. There is a lot of pressure on management each quarter to deliver on earnings expectations. The Beneish M-Score is a statistical model that provides some insight into whether the company might be manipulating earnings. With a Beneish M-Score of −1.91, the model suggests that the company is a possible earnings manipulator. A value of −1.91 implies a 2.8% chance of earnings manipulation.

Fundamentals And Technical Analysis

Four Corners Property Trust, Inc. is currently trading at $27.02/share, up 1.3% for the day. The company is trading at approximately 83.1% of its 52-week high of $32.50/share. The company’s stock price is up 11.1% since the last earnings report and down −0.9% over the previous week.

The company’s 14 Day Relative Price Index (RSI) of 51.66 suggests the company is trading in technically neutral territory. The RSI is considered overbought when above 70 and oversold when below 30.


NYSE:FCPT Stock Price Chart
Source: Finbox

The current share price implies a price-to-earnings (P/E) multiple of 25.35 and a forward P/E multiple of 24.47.

Four Corners Property Trust, Inc.’s current share price also implies a price-to-book (P/B) multiple of 2.75. The following table summarizes some other key fundamental ratios:

Data as of October 21, 2020
Metric Value
Last Reported Fiscal Period Key FY2020.Q2
Period End Date June 30, 2020
Stock Price (Current) $27.02
P/E Ratio 25.3x
P/E Ratio (Fwd) 24.5x
PEG Ratio −18.1
Total Debt / Total Capital 29.2%
Levered Free Cash Flow $87.295 million
EV / EBITDA 20.5x

Finbox

Four Corners Property Trust, Inc. is a small-cap stock with a market capitalization of $1.901 billion and a total enterprise value of $2.675 billion. The company operates in the Real Estate sector and the Equity Real Estate Investment Trusts (REITs) industry.

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.

Expertise: financial technology, analyzing market trends. Brian is a founder at finbox.io, where he’s focused on building tools that make it faster and easier for investors to research stock fundamentals. Brian’s background is in physics & computer science and previously worked as a software engineer at GE Healthcare. He enjoys applying his expertise in technology to help find market trends that impact investors. Brian can be reached at brian@finbox.io or at +1 (516) 778-6257.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.