Rayonier (RYN) Scheduled to Post Quarterly Earnings on Wednesday

Rayonier (NYSE:RYN) will be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.04 per share for the quarter. Rayonier has set its FY24 guidance at $0.40-0.54 EPS and its FY 2024 guidance at 0.400-0.540 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Rayonier had a net margin of 16.41% and a return on equity of 2.89%. The business had revenue of $467.40 million for the quarter, compared to analysts’ expectations of $235.94 million. During the same period in the previous year, the company posted $0.11 EPS. On average, analysts expect Rayonier to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Rayonier Price Performance

RYN opened at $30.14 on Tuesday. The stock has a fifty day moving average price of $32.66 and a 200 day moving average price of $31.46. The company has a current ratio of 2.26, a quick ratio of 2.04 and a debt-to-equity ratio of 0.73. Rayonier has a 1 year low of $24.84 and a 1 year high of $35.29. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 25.76 and a beta of 1.07.

Rayonier Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.285 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 3.78%. Rayonier’s dividend payout ratio is 97.44%.

Analysts Set New Price Targets

A number of analysts have issued reports on RYN shares. Royal Bank of Canada lifted their target price on shares of Rayonier from $34.00 to $35.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Truist Financial lifted their price objective on shares of Rayonier from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. TheStreet upgraded Rayonier from a “c+” rating to a “b-” rating in a report on Friday, February 16th. Finally, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $34.50.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.