Analysts Anticipate Rayonier Inc. (NYSE:RYN) Will Post Earnings of $0.11 Per Share
Equities analysts expect that Rayonier Inc. (NYSE:RYN) will report earnings of $0.11 per share for the current quarter, according to Zacks. Two analysts have made estimates for Rayonier’s earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.12. Rayonier posted earnings of $0.07 per share during the same quarter last year, which would suggest a positive year over year growth rate of 57.1%. The business is scheduled to report its next earnings results after the market closes on Wednesday, August 2nd.
On average, analysts expect that Rayonier will report full year earnings of $0.35 per share for the current year, with EPS estimates ranging from $0.34 to $0.37. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.48 per share, with EPS estimates ranging from $0.44 to $0.51. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Rayonier.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by $0.05. Rayonier had a return on equity of 4.10% and a net margin of 27.54%. The firm had revenue of $186.50 million for the quarter, compared to analyst estimates of $159.31 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The business’s revenue for the quarter was up 38.4% on a year-over-year basis.
Several brokerages have weighed in on RYN. BMO Capital Markets reissued a “buy” rating and set a $31.00 price objective on shares of Rayonier in a report on Wednesday, April 19th. Zacks Investment Research lowered shares of Rayonier from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub lowered shares of Rayonier from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Vertical Research raised shares of Rayonier to a “buy” rating in a report on Sunday, May 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $29.80.
In related news, Director Andrew G. Wiltshire purchased 6,650 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average cost of $27.87 per share, for a total transaction of $185,335.50. Following the transaction, the director now owns 26,006 shares of the company’s stock, valued at $724,787.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Rayonier by 13,910.0% in the first quarter. BlackRock Inc. now owns 11,317,685 shares of the real estate investment trust’s stock worth $320,744,000 after buying an additional 11,236,902 shares during the last quarter. Vanguard Group Inc. increased its stake in Rayonier by 5.1% in the first quarter. Vanguard Group Inc. now owns 10,059,697 shares of the real estate investment trust’s stock worth $285,092,000 after buying an additional 490,621 shares during the last quarter. State Street Corp increased its stake in Rayonier by 2.1% in the first quarter. State Street Corp now owns 3,264,474 shares of the real estate investment trust’s stock worth $92,518,000 after buying an additional 66,645 shares during the last quarter. Confluence Investment Management LLC increased its stake in Rayonier by 7.1% in the second quarter. Confluence Investment Management LLC now owns 2,844,858 shares of the real estate investment trust’s stock worth $81,847,000 after buying an additional 189,668 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Rayonier by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 1,493,104 shares of the real estate investment trust’s stock worth $42,314,000 after buying an additional 65,376 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.
Rayonier (RYN) opened at 29.23 on Tuesday. The firm has a 50-day moving average of $28.75 and a 200 day moving average of $28.36. The firm has a market cap of $3.61 billion, a P/E ratio of 15.56 and a beta of 0.35. Rayonier has a 1-year low of $25.24 and a 1-year high of $29.86.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.42%. Rayonier’s dividend payout ratio (DPR) is 53.48%.
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Rayonier Inc is a timberland real estate investment trust with assets located in some of the 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. The 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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