Rayonier Advanced Materials (NYSE:RYAM) – Equities research analysts at DA Davidson lifted their Q2 2018 EPS estimates for Rayonier Advanced Materials in a research note issued to investors on Tuesday, May 8th, Zacks Investment Research reports. DA Davidson analyst S. Chercover now forecasts that the basic materials company will post earnings of $0.47 per share for the quarter, up from their prior estimate of $0.37. DA Davidson also issued estimates for Rayonier Advanced Materials’ FY2018 earnings at $1.88 EPS and FY2019 earnings at $2.02 EPS.
Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Monday, May 7th. The basic materials company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.07). Rayonier Advanced Materials had a net margin of 26.52% and a return on equity of 15.39%. The business had revenue of $522.00 million for the quarter, compared to the consensus estimate of $522.14 million. During the same quarter last year, the firm earned $0.15 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Friday, May 11th. Vertical Research upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. ValuEngine lowered Rayonier Advanced Materials from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 8th. Finally, Bank of America lifted their target price on Rayonier Advanced Materials from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.50.
Rayonier Advanced Materials opened at $19.55 on Friday, Marketbeat Ratings reports. Rayonier Advanced Materials has a fifty-two week low of $19.04 and a fifty-two week high of $19.29. The company has a current ratio of 2.06, a quick ratio of 1.01 and a debt-to-equity ratio of 1.70. The stock has a market cap of $993.28 million, a PE ratio of 20.15, a price-to-earnings-growth ratio of 0.53 and a beta of 3.52.
A number of institutional investors have recently made changes to their positions in the stock. State of Tennessee Treasury Department raised its position in Rayonier Advanced Materials by 8.1% in the 1st quarter. State of Tennessee Treasury Department now owns 37,355 shares of the basic materials company’s stock valued at $802,000 after buying an additional 2,797 shares during the last quarter. Texas Permanent School Fund raised its position in Rayonier Advanced Materials by 10.8% in the 4th quarter. Texas Permanent School Fund now owns 35,005 shares of the basic materials company’s stock valued at $716,000 after buying an additional 3,417 shares during the last quarter. MetLife Investment Advisors LLC raised its position in Rayonier Advanced Materials by 19.6% in the 1st quarter. MetLife Investment Advisors LLC now owns 22,944 shares of the basic materials company’s stock valued at $493,000 after buying an additional 3,768 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Rayonier Advanced Materials by 11.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 36,875 shares of the basic materials company’s stock valued at $792,000 after buying an additional 3,875 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Rayonier Advanced Materials by 3.9% in the 1st quarter. Legal & General Group Plc now owns 104,168 shares of the basic materials company’s stock valued at $2,232,000 after buying an additional 3,934 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.
Rayonier Advanced Materials declared that its board has authorized a stock buyback program on Tuesday, February 20th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
Rayonier Advanced Materials Company Profile
Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, and Pulp & Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.
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