Wall Street brokerages forecast that Rayonier Inc. (NYSE:RYN) will announce sales of $190.89 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Rayonier’s earnings. The highest sales estimate is $196.39 million and the lowest is $185.40 million. Rayonier reported sales of $186.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.4%. The business is expected to issue its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that Rayonier will report full year sales of $190.89 million for the current fiscal year, with estimates ranging from $752.70 million to $783.17 million. For the next year, analysts expect that the company will report sales of $791.41 million per share, with estimates ranging from $778.20 million to $804.61 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Rayonier.
Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.11. The company had revenue of $186.30 million for the quarter, compared to the consensus estimate of $165.73 million. Rayonier had a return on equity of 4.96% and a net margin of 18.64%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS.
Several analysts recently weighed in on RYN shares. Royal Bank of Canada restated a “hold” rating and issued a $30.00 price target on shares of Rayonier in a research note on Friday, January 12th. Zacks Investment Research downgraded Rayonier from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Citigroup started coverage on Rayonier in a research note on Thursday, March 1st. They issued a “neutral” rating and a $37.00 price target on the stock. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Rayonier currently has a consensus rating of “Hold” and an average price target of $34.25.
Rayonier (RYN) traded up $0.02 during trading on Friday, hitting $35.32. The company had a trading volume of 306,559 shares, compared to its average volume of 750,743. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.68 and a quick ratio of 2.33. The stock has a market cap of $4,590.23, a P/E ratio of 30.43, a P/E/G ratio of 10.90 and a beta of 0.35. Rayonier has a 52 week low of $26.84 and a 52 week high of $35.94.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.00 annualized dividend and a yield of 2.83%. Rayonier’s dividend payout ratio is 86.21%.
A number of institutional investors and hedge funds have recently modified their holdings of RYN. California Public Employees Retirement System lifted its holdings in shares of Rayonier by 3.5% during the 3rd quarter. California Public Employees Retirement System now owns 438,580 shares of the real estate investment trust’s stock valued at $12,671,000 after buying an additional 14,980 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Rayonier by 59.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 166,332 shares of the real estate investment trust’s stock valued at $4,805,000 after buying an additional 61,739 shares during the period. CrestPoint Capital Management LLC bought a new position in shares of Rayonier during the 4th quarter valued at $851,000. Prudential Financial Inc. lifted its holdings in shares of Rayonier by 54.4% during the 3rd quarter. Prudential Financial Inc. now owns 846,146 shares of the real estate investment trust’s stock valued at $24,445,000 after buying an additional 298,040 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Rayonier by 7.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 865,219 shares of the real estate investment trust’s stock valued at $24,997,000 after buying an additional 62,728 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.
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Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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