Brokerages Anticipate Rayonier Inc. (NYSE:RYN) Will Post Quarterly Sales of $147.85 Million

Analysts expect Rayonier Inc. (NYSE:RYN) to report $147.85 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Rayonier’s earnings, with the lowest sales estimate coming in at $127.70 million and the highest estimate coming in at $168.00 million. Rayonier reported sales of $184.80 million during the same quarter last year, which suggests a negative year-over-year growth rate of 20%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 5th.

On average, analysts expect that Rayonier will report full year sales of $765.05 million for the current fiscal year, with estimates ranging from $737.10 million to $793.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $753.50 million, with estimates ranging from $718.00 million to $789.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Rayonier.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.03). Rayonier had a net margin of 7.74% and a return on equity of 2.25%. The company had revenue of $259.10 million during the quarter, compared to the consensus estimate of $166.06 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. The business’s revenue was up 35.3% on a year-over-year basis.

Several brokerages have issued reports on RYN. Citigroup raised Rayonier from a “neutral” rating to a “buy” rating and dropped their price target for the company from $33.00 to $29.00 in a research note on Friday, March 27th. Raymond James boosted their price target on Rayonier from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $25.00 price target on shares of Rayonier in a research note on Thursday, April 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.50.

RYN traded down $0.30 during trading on Friday, hitting $24.11. The company’s stock had a trading volume of 1,157,460 shares, compared to its average volume of 718,708. Rayonier has a twelve month low of $15.96 and a twelve month high of $33.10. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.75. The stock’s fifty day moving average price is $23.84 and its 200-day moving average price is $26.81. The firm has a market capitalization of $3.12 billion, a P/E ratio of 52.41 and a beta of 0.88.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th 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 4.48%. The ex-dividend date is Monday, June 15th. Rayonier’s payout ratio is 234.78%.

In related news, CEO David L. Nunes purchased 1,428 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of $23.82 per share, with a total value of $34,014.96. Following the transaction, the chief executive officer now owns 392,986 shares of the company’s stock, valued at approximately $9,360,926.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.86% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Rayonier by 8.7% in the 1st quarter. JPMorgan Chase & Co. now owns 9,661,322 shares of the real estate investment trust’s stock valued at $227,525,000 after buying an additional 774,802 shares during the last quarter. Impax Asset Management Group plc raised its position in Rayonier by 21.3% in the 1st quarter. Impax Asset Management Group plc now owns 5,359,275 shares of the real estate investment trust’s stock valued at $125,406,000 after buying an additional 941,382 shares during the last quarter. Pictet Asset Management Ltd. raised its position in Rayonier by 12.9% in the 4th quarter. Pictet Asset Management Ltd. now owns 3,520,978 shares of the real estate investment trust’s stock valued at $115,347,000 after buying an additional 403,663 shares during the last quarter. State Street Corp raised its position in Rayonier by 3.6% in the 1st quarter. State Street Corp now owns 3,269,088 shares of the real estate investment trust’s stock valued at $76,987,000 after buying an additional 112,405 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in Rayonier by 5.2% in the 1st quarter. Confluence Investment Management LLC now owns 3,161,713 shares of the real estate investment trust’s stock valued at $74,459,000 after buying an additional 156,946 shares during the last quarter. 88.58% of the stock is owned by institutional investors and hedge funds.

About Rayonier

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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