Rayonier (NYSE:RYN) Updates FY 2024 Earnings Guidance

Rayonier (NYSE:RYN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.360-0.400 for the period, compared to the consensus earnings per share estimate of 0.370. The company issued revenue guidance of -. Rayonier also updated its FY24 guidance to $0.36-0.40 EPS.

Rayonier Trading Down 2.1 %

RYN traded down $0.65 on Friday, hitting $30.99. The company had a trading volume of 1,209,305 shares, compared to its average volume of 599,361. The company has a market cap of $4.62 billion, a PE ratio of 29.24 and a beta of 1.05. Rayonier has a 12-month low of $27.40 and a 12-month high of $35.29. The business’s fifty day simple moving average is $31.54 and its 200 day simple moving average is $30.31. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $195.00 million during the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a return on equity of 2.93% and a net margin of 15.84%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS. Equities research analysts expect that Rayonier will post 0.38 EPS for the current year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.68%. The ex-dividend date is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is presently 107.55%.

Wall Street Analyst Weigh In

RYN has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com lowered Rayonier from a “hold” rating to a “sell” rating in a report on Friday.

Insider Activity

In related news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the transaction, the director now directly owns 40,168 shares of the company’s stock, valued at $1,227,935.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.83% 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 December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.