Rayonier (NYSE:RYN) announced its earnings results on Wednesday. The real estate investment trust reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11, Briefing.com reports. Rayonier had a net margin of 17.06% and a return on equity of 3.89%. The business had revenue of $186.30 million during the quarter, compared to the consensus estimate of $165.73 million. During the same quarter last year, the firm earned $0.05 earnings per share. Rayonier’s quarterly revenue was up 22.9% on a year-over-year basis.
Rayonier (NYSE RYN) traded up $1.10 on Thursday, reaching $32.50. 1,169,345 shares of the company’s stock traded hands, compared to its average volume of 640,687. Rayonier has a 12-month low of $26.84 and a 12-month high of $33.65. The company has a current ratio of 1.74, a quick ratio of 1.45 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $4,240.00, a P/E ratio of 31.04, a P/E/G ratio of 11.58 and a beta of 0.43.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Rayonier from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Monday, November 6th. Royal Bank of Canada reissued a “hold” rating and set a $29.00 target price on shares of Rayonier in a research note on Wednesday, November 15th. Finally, BMO Capital Markets reissued a “hold” rating and set a $31.00 target price on shares of Rayonier in a research note on Thursday, November 2nd. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $31.50.
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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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