Rayonier Advanced Materials Inc. (RYAM) Posts Earnings Results, Beats Expectations By $0.01 EPS
Rayonier Advanced Materials Inc. (NYSE:RYAM) issued its quarterly earnings data on Wednesday. The basic materials company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01, Bloomberg Earnings reports. The firm had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $200.66 million. Rayonier Advanced Materials had a return on equity of 24.17% and a net margin of 5.71%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, December 14th. Rayonier Advanced Materials’s dividend payout ratio (DPR) is presently 35.00%.
In other Rayonier Advanced Materials news, Director Delyle W. Bloomquist acquired 5,600 shares of the stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $13.48 per share, with a total value of $75,488.00. Following the transaction, the director now owns 27,904 shares in the company, valued at approximately $376,145.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.06% of the company’s stock.
A number of equities research analysts recently weighed in on RYAM shares. Zacks Investment Research cut Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Vertical Research upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Vertical Group upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $19.00 in a research note on Tuesday, July 25th. BidaskClub cut Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $18.00 price objective on shares of Rayonier Advanced Materials in a research note on Monday, September 25th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $18.50.
About Rayonier Advanced Materials
Rayonier Advanced Materials Inc is engaged in the production of cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Its products are used in manufacturing processes. The Company’s products are sold throughout the world to companies for use in various industrial applications, and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics.
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