$0.09 Earnings Per Share Expected for Rayonier Inc. (RYN) This Quarter
Analysts expect that Rayonier Inc. (NYSE:RYN) will announce $0.09 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Rayonier’s earnings, with the highest EPS estimate coming in at $0.11 and the lowest estimate coming in at $0.05. Rayonier reported earnings of $0.11 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.2%. The firm is expected to announce its next earnings report after the market closes on Wednesday, May 3rd.
According to Zacks, analysts expect that Rayonier will report full-year earnings of $0.36 per share for the current year, with EPS estimates ranging from $0.35 to $0.37. For the next financial year, analysts anticipate that the business will report earnings of $0.47 per share, with EPS estimates ranging from $0.45 to $0.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Rayonier.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, February 8th. The real estate investment trust reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. The business earned $142.80 million during the quarter, compared to the consensus estimate of $127.77 million. Rayonier had a return on equity of 4.85% and a net margin of 26.89%. Rayonier’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share.
RYN has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Friday, March 10th. BMO Capital Markets restated a “buy” rating and issued a $31.00 price objective on shares of Rayonier in a research note on Thursday, March 16th. Raymond James Financial, Inc. upgraded Rayonier from a “market perform” rating to an “outperform” rating in a research note on Monday, January 9th. DA Davidson downgraded Rayonier from a “buy” rating to a “neutral” rating in a research note on Thursday, February 16th. Finally, Vertical Research downgraded Rayonier from a “buy” rating to a “hold” rating in a research note on Wednesday, February 15th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Rayonier presently has a consensus rating of “Buy” and a consensus price target of $29.80.
In other news, SVP Douglas M. Long sold 2,305 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $29.51, for a total transaction of $68,020.55. Following the completion of the transaction, the senior vice president now owns 8,556 shares in the company, valued at approximately $252,487.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. increased its position in Rayonier by 68.4% in the third quarter. Sei Investments Co. now owns 3,859 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 1,568 shares during the last quarter. Creative Planning increased its position in Rayonier by 1.0% in the third quarter. Creative Planning now owns 3,942 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 40 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Rayonier during the third quarter valued at $122,000. Envestnet Asset Management Inc. increased its position in Rayonier by 140.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,733 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 3,348 shares during the last quarter. Finally, Washington Trust Bank increased its position in Rayonier by 2,490.8% in the first quarter. Washington Trust Bank now owns 7,021 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 6,750 shares during the last quarter. Institutional investors own 84.66% of the company’s stock.
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Rayonier (NYSE:RYN) traded down 0.31% on Tuesday, reaching $28.60. The company had a trading volume of 1,208,489 shares. The stock has a market capitalization of $3.51 billion, a P/E ratio of 16.54 and a beta of 0.37. Rayonier has a 12-month low of $24.37 and a 12-month high of $29.86. The stock’s 50-day moving average price is $28.53 and its 200-day moving average price is $27.51.
The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.49%. Rayonier’s payout ratio is 58.14%.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust (REIT) with assets located in timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. Its Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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