Rayonier Given New $37.00 Price Target at RBC Capital (RYN)
Equities research analysts at RBC Capital raised their price objective on shares of Rayonier (NYSE:RYN) from $35.00 to $37.00 in a research note issued to investors on Monday. RBC Capital’s price objective would suggest a potential upside of 9.37% from the company’s current price.
Shares of Rayonier (NYSE:RYN) traded up 0.53% during mid-day trading on Monday, hitting $34.01. 158,268 shares of the company’s stock traded hands. Rayonier has a one year low of $29.4922 and a one year high of $43.9432. The stock has a 50-day moving average of $34.90 and a 200-day moving average of $34.24. The company has a market cap of $4.300 billion and a P/E ratio of 22.24.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.49 by $0.41. The company had revenue of $163.10 million for the quarter, compared to the consensus estimate of $427.50 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. Analysts expect that Rayonier will post $0.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Friday, September 12th.
Separately, analysts at DA Davidson downgraded shares of Rayonier from a “buy” rating to a “neutral” rating in a research note on Monday, June 30th. They now have a $2.30 price target on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $38.86.
Rayonier Inc (NYSE:RYN) is a real estate investment trust (REIT).
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