Zacks: Brokerages Anticipate Rayonier Inc. (NYSE:RYN) Will Announce Quarterly Sales of $196.13 Million
Equities analysts forecast that Rayonier Inc. (NYSE:RYN) will post sales of $196.13 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Rayonier’s earnings, with estimates ranging from $192.50 million to $199.00 million. Rayonier reported sales of $245.90 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 20.2%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, August 7th.
On average, analysts expect that Rayonier will report full-year sales of $774.46 million for the current financial year, with estimates ranging from $762.00 million to $790.79 million. For the next fiscal year, analysts forecast that the business will report sales of $809.12 million, with estimates ranging from $789.00 million to $844.35 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Rayonier.
Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.09. The firm had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $184.31 million. Rayonier had a return on equity of 5.16% and a net margin of 10.75%. Rayonier’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share.
Shares of Rayonier stock traded up $0.20 on Friday, reaching $29.42. 478,098 shares of the company were exchanged, compared to its average volume of 473,613. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.61 and a current ratio of 2.95. The stock has a 50-day moving average price of $30.07. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 37.24 and a beta of 0.78. Rayonier has a 1-year low of $26.30 and a 1-year high of $36.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.67%. Rayonier’s dividend payout ratio (DPR) is 136.71%.
In related news, CFO Mark Mchugh sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $32.62, for a total value of $326,200.00. Following the completion of the transaction, the chief financial officer now directly owns 61,613 shares of the company’s stock, valued at approximately $2,009,816.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in Rayonier by 119.5% in the 1st quarter. FMR LLC now owns 1,473 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 802 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in Rayonier during the 1st quarter valued at $72,000. Bessemer Group Inc. boosted its stake in Rayonier by 870.4% during the 4th quarter. Bessemer Group Inc. now owns 3,775 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 3,386 shares in the last quarter. CX Institutional bought a new position in Rayonier during the 1st quarter valued at $141,000. Finally, U S Global Investors Inc. bought a new position in Rayonier during the 1st quarter valued at $158,000. 84.63% of the stock is owned by institutional investors and hedge funds.
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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