Brokerages forecast that Rayonier Inc. (NYSE:RYN) will post $173.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Rayonier’s earnings, with the lowest sales estimate coming in at $162.91 million and the highest estimate coming in at $184.20 million. Rayonier reported sales of $239.70 million during the same quarter last year, which indicates a negative year over year growth rate of 27.6%. The firm is scheduled to report its next earnings results on Wednesday, February 6th.
On average, analysts expect that Rayonier will report full-year sales of $817.65 million for the current year, with estimates ranging from $812.91 million to $822.40 million. For the next financial year, analysts expect that the firm will post sales of $818.65 million, with estimates ranging from $806.10 million to $831.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Rayonier.
Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.12. Rayonier had a return on equity of 7.34% and a net margin of 18.48%. The firm had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $179.87 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Rayonier’s revenue for the quarter was up 8.9% compared to the same quarter last year.
A number of analysts have recently weighed in on the company. BMO Capital Markets cut Rayonier from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 18th. Zacks Investment Research cut Rayonier from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.50.
Hedge funds have recently modified their holdings of the stock. Qube Research & Technologies Ltd bought a new position in Rayonier in the 2nd quarter worth approximately $108,000. Interactive Financial Advisors grew its holdings in Rayonier by 114.9% in the 2nd quarter. Interactive Financial Advisors now owns 3,204 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 1,713 shares in the last quarter. Sfmg LLC bought a new position in Rayonier in the 2nd quarter worth approximately $200,000. Mitchell Mcleod Pugh & Williams Inc. bought a new position in Rayonier in the 2nd quarter worth approximately $204,000. Finally, Pennsylvania Trust Co bought a new position in Rayonier in the 2nd quarter worth approximately $218,000. 86.53% of the stock is owned by institutional investors and hedge funds.
NYSE RYN traded down $0.05 on Friday, hitting $31.56. 40,695 shares of the stock traded hands, compared to its average volume of 640,005. Rayonier has a twelve month low of $29.27 and a twelve month high of $39.73. The stock has a market capitalization of $4.07 billion, a P/E ratio of 48.55, a PEG ratio of 9.20 and a beta of 0.43. The company has a quick ratio of 2.14, a current ratio of 3.43 and a debt-to-equity ratio of 0.57.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, December 14th. Rayonier’s payout ratio is 166.15%.
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 June 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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