Brokerages forecast that Rayonier Inc. (NYSE:RYN) will announce $201.59 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Rayonier’s earnings. The highest sales estimate is $207.58 million and the lowest is $195.60 million. Rayonier reported sales of $203.20 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.8%. The business is scheduled to issue its next earnings report on Wednesday, May 1st.
On average, analysts expect that Rayonier will report full-year sales of $812.10 million for the current fiscal year, with estimates ranging from $793.00 million to $831.20 million. For the next financial year, analysts expect that the company will report sales of $0.00. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Rayonier.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, February 6th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Rayonier had a return on equity of 6.01% and a net margin of 12.52%. The company had revenue of $166.10 million during the quarter, compared to the consensus estimate of $157.34 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis.
Several research firms have recently issued reports on RYN. ValuEngine lowered Rayonier from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. BMO Capital Markets upgraded Rayonier from an “underperform” rating to a “market perform” rating and set a $28.98 price target on the stock in a research report on Friday. TheStreet lowered Rayonier from a “b” rating to a “c+” rating in a research report on Thursday. Finally, Raymond James set a $32.00 price target on Rayonier and gave the stock a “buy” rating in a research report on Tuesday, January 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Rayonier currently has an average rating of “Hold” and an average target price of $34.25.
Shares of NYSE:RYN traded down $0.43 during midday trading on Monday, hitting $28.55. The company had a trading volume of 748,472 shares, compared to its average volume of 588,325. Rayonier has a 12 month low of $26.30 and a 12 month high of $39.73. The company has a quick ratio of 2.54, a current ratio of 3.27 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $3.75 billion, a P/E ratio of 36.14, a P/E/G ratio of 9.55 and a beta of 0.72.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Rayonier by 9.9% during the third quarter. Vanguard Group Inc. now owns 19,755,025 shares of the real estate investment trust’s stock worth $667,917,000 after acquiring an additional 1,773,986 shares in the last quarter. Vanguard Group Inc lifted its holdings in Rayonier by 9.9% during the third quarter. Vanguard Group Inc now owns 19,755,025 shares of the real estate investment trust’s stock worth $667,917,000 after acquiring an additional 1,773,986 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Rayonier by 31.6% during the third quarter. Renaissance Technologies LLC now owns 3,119,300 shares of the real estate investment trust’s stock worth $105,464,000 after acquiring an additional 748,900 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in Rayonier by 1.6% during the fourth quarter. Confluence Investment Management LLC now owns 3,016,147 shares of the real estate investment trust’s stock worth $83,517,000 after acquiring an additional 46,316 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its holdings in Rayonier by 21.9% during the third quarter. Pictet Asset Management Ltd. now owns 2,819,250 shares of the real estate investment trust’s stock worth $95,319,000 after acquiring an additional 506,890 shares in the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
Rayonier Company Profile
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 September 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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