Rayonier Inc. (RYN) Upgraded at Zacks Investment Research
Rayonier Inc. (NYSE:RYN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Rayonier reported better-than-expected pro forma net income per share for second-quarter 2017. In addition, pro forma revenue for the quarter surpassed the Zacks Consensus Estimate. The company revised its 2017 guidance upward. Encouragingly, over the past seven days, its 2017 earnings estimates moved up. Also, shares of Rayonier outperformed its industry over the last three months. The company’s portfolio of timberlands enjoys geographical diversity. Moreover, it is likely to benefit from the recent developments in biogenetics & cloning that help in fast growth of trees. However, Rayonier’s performance in the upcoming period is likely to bear the brunt of stiff competition from national and local players. Also, foreign exchange fluctuations, tough compliance requirements and seasonality of the forest products industry add to its woes.”
RYN has been the subject of a number of other reports. BMO Capital Markets reiterated a “buy” rating and set a $31.00 target price on shares of Rayonier in a report on Wednesday, April 19th. Royal Bank Of Canada reiterated a “hold” rating and set a $28.00 target price on shares of Rayonier in a report on Monday, July 31st. BidaskClub lowered shares of Rayonier from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Vertical Research upgraded shares of Rayonier to a “buy” rating in a report on Sunday, May 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $30.00.
Shares of Rayonier (NYSE RYN) traded down 0.10% during midday trading on Monday, reaching $29.45. The company had a trading volume of 103,731 shares. The company has a 50 day moving average of $28.86 and a 200 day moving average of $28.44. The company has a market capitalization of $3.79 billion, a PE ratio of 24.81 and a beta of 0.35. Rayonier has a one year low of $25.24 and a one year high of $29.86.
Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.09. Rayonier had a return on equity of 5.03% and a net margin of 19.10%. The firm had revenue of $194.70 million for the quarter, compared to analysts’ expectations of $151.50 million. During the same period last year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 47.4% compared to the same quarter last year. Analysts predict that Rayonier will post $0.40 EPS for the current fiscal year.
In other Rayonier news, Director Andrew G. Wiltshire bought 6,650 shares of Rayonier stock in a transaction dated Wednesday, May 10th. The shares were purchased at an average cost of $27.87 per share, for a total transaction of $185,335.50. Following the acquisition, the director now directly owns 26,006 shares in the company, valued at approximately $724,787.22. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Exencial Wealth Advisors LLC increased its position in shares of Rayonier by 2.9% in the first quarter. Exencial Wealth Advisors LLC now owns 61,416 shares of the real estate investment trust’s stock worth $1,749,000 after buying an additional 1,731 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Rayonier by 1.8% in the first quarter. IFP Advisors Inc now owns 3,881 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 67 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Rayonier by 1,136.2% in the first quarter. Russell Investments Group Ltd. now owns 413,871 shares of the real estate investment trust’s stock valued at $11,728,000 after buying an additional 380,393 shares during the last quarter. Baker Ellis Asset Management LLC boosted its stake in shares of Rayonier by 1.5% in the first quarter. Baker Ellis Asset Management LLC now owns 59,860 shares of the real estate investment trust’s stock valued at $1,696,000 after buying an additional 900 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Rayonier by 11.9% in the first quarter. ST Germain D J Co. Inc. now owns 119,625 shares of the real estate investment trust’s stock valued at $3,390,000 after buying an additional 12,695 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.
Rayonier Company Profile
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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