Rayonier Inc. (RYN) Expected to Post Earnings of $0.06 Per Share
Equities analysts predict that Rayonier Inc. (NYSE:RYN) will announce earnings of $0.06 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Rayonier’s earnings. The highest EPS estimate is $0.08 and the lowest is $0.04. Rayonier posted earnings of $0.33 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 81.8%. The firm is expected to report its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Rayonier will report full-year earnings of $0.42 per share for the current financial year, with EPS estimates ranging from $0.36 to $0.48. For the next year, analysts anticipate that the business will post earnings of $0.48 per share, with EPS estimates ranging from $0.45 to $0.53. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Rayonier.
Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.20 earnings per share 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 company had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $151.50 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was up 47.4% on a year-over-year basis.
RYN has been the topic of a number of research analyst reports. Zacks Investment Research raised Rayonier from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Monday, April 17th. BMO Capital Markets reissued a “buy” rating and issued a $31.00 price target on shares of Rayonier in a report on Wednesday, April 19th. Vertical Research raised Rayonier to a “buy” rating in a report on Sunday, May 28th. BidaskClub downgraded Rayonier from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $28.00 price target on shares of Rayonier in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $30.00.
A number of hedge funds have recently made changes to their positions in RYN. Gruss Capital Management LP increased its stake in shares of Rayonier by 16.0% in the second quarter. Gruss Capital Management LP now owns 290,000 shares of the real estate investment trust’s stock valued at $8,343,000 after buying an additional 40,000 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Rayonier by 46.7% in the second quarter. Parametric Portfolio Associates LLC now owns 158,088 shares of the real estate investment trust’s stock valued at $4,548,000 after buying an additional 50,350 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Rayonier by 22.0% in the second quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 642 shares during the last quarter. Bluestein R H & Co. acquired a new stake in shares of Rayonier during the second quarter valued at $201,000. Finally, California Public Employees Retirement System increased its stake in shares of Rayonier by 1.2% in the second quarter. California Public Employees Retirement System now owns 423,600 shares of the real estate investment trust’s stock valued at $12,187,000 after buying an additional 5,000 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Rayonier (NYSE:RYN) traded down 0.10% during midday trading on Friday, reaching $28.66. The company’s stock had a trading volume of 237,258 shares. The company’s 50-day moving average price is $28.89 and its 200 day moving average price is $28.52. Rayonier has a 1-year low of $25.24 and a 1-year high of $29.86. The firm has a market capitalization of $3.68 billion, a PE ratio of 24.14 and a beta of 0.35.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, September 14th. Rayonier’s payout ratio 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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