Rayonier Coverage Initiated at BMO Capital Markets (RYN)
Research analysts at BMO Capital Markets started coverage on shares of Rayonier (NYSE:RYN) in a report released on Wednesday. The firm set a “market perform” rating and a $36.00 price target on the stock. BMO Capital Markets’ target price suggests a potential upside of 5.54% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Rayonier from an “underperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $35.10 price target on the stock. Separately, 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. Finally, 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 investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $37.91.
Rayonier (NYSE:RYN) traded down 0.55% on Wednesday, hitting $34.11. 411,240 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 $34.27 and a 200-day moving average of $34.42. The company has a market cap of $4.313 billion and a P/E ratio of 22.48.
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. On average, analysts predict that Rayonier will post $0.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders 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 3.52%. 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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