Zacks: Analysts Expect Rayonier Inc. (RYN) Will Announce Quarterly Sales of $150.84 Million
Brokerages forecast that Rayonier Inc. (NYSE:RYN) will post sales of $150.84 million for the current quarter, Zacks reports. Two analysts have issued estimates for Rayonier’s earnings, with estimates ranging from $134.60 million to $167.09 million. Rayonier reported sales of $171.40 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 12%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that Rayonier will report full-year sales of $150.84 million for the current year, with estimates ranging from $697.90 million to $719.68 million. For the next financial year, analysts expect that the company will report sales of $652.15 million per share, with estimates ranging from $603.40 million to $700.89 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Rayonier.
Rayonier (NYSE:RYN) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.09. The business had revenue of $194.70 million for the quarter, compared to the consensus estimate of $151.50 million. Rayonier had a net margin of 19.10% and a return on equity of 5.03%. The firm’s revenue for the quarter was up 47.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 earnings per share.
Several brokerages have weighed in on RYN. Royal Bank Of Canada restated a “hold” rating and set a $28.00 price objective on shares of Rayonier in a research note on Monday, July 31st. BMO Capital Markets reiterated a “hold” rating and set a $31.00 target price on shares of Rayonier in a research note on Friday, September 29th. Zacks Investment Research upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Finally, BidaskClub upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Rayonier has a consensus rating of “Hold” and a consensus target price of $30.25.
A number of institutional investors and hedge funds have recently made changes to their positions in RYN. UBS Asset Management Americas Inc. increased its holdings in Rayonier by 17.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 103,999 shares of the real estate investment trust’s stock worth $2,947,000 after acquiring an additional 15,347 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in Rayonier by 10.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 107,738 shares of the real estate investment trust’s stock valued at $3,053,000 after buying an additional 9,814 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Rayonier by 9.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,256 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 523 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Rayonier by 3.4% during the 1st quarter. Alliancebernstein L.P. now owns 158,753 shares of the real estate investment trust’s stock valued at $4,499,000 after buying an additional 5,280 shares in the last quarter. Finally, Credit Agricole S A purchased a new position in Rayonier during the 1st quarter valued at about $448,000. 82.49% of the stock is owned by institutional investors.
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Shares of Rayonier (NYSE RYN) traded up 1.16% during trading on Friday, reaching $29.73. 391,515 shares of the company were exchanged. The company has a market capitalization of $3.82 billion, a PE ratio of 25.05 and a beta of 0.34. The firm’s 50 day moving average price is $29.03 and its 200 day moving average price is $28.65. Rayonier has a one year low of $25.85 and a one year high of $30.18.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Thursday, December 14th. Rayonier’s dividend payout ratio (DPR) is currently 84.75%.
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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