Rayonier Upgraded to “Neutral” by Zacks (RYN)
Rayonier (NYSE:RYN) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Tuesday. The firm currently has a $35.10 target price on the stock. Zacks‘s target price would indicate a potential upside of 2.42% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Rayonier from $35.00 to $37.00 in a research note on Monday, August 11th. 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 analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Rayonier currently has a consensus rating of “Hold” and a consensus price target of $38.23.
Shares of Rayonier (NYSE:RYN) traded up 0.03% during mid-day trading on Tuesday, hitting $34.28. 309,981 shares of the company’s stock traded hands. Rayonier has a 52-week low of $29.4922 and a 52-week high of $43.9432. The stock has a 50-day moving average of $34.30 and a 200-day moving average of $34.40. The company has a market cap of $4.334 billion and a price-to-earnings ratio of 22.46.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.54 earnings per share. Rayonier’s revenue was up 13.9% compared to the same quarter last year. 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 3.50%. The ex-dividend date of this dividend is Friday, September 12th.
Rayonier Inc (NYSE:RYN) is a real estate investment trust (REIT).
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