Brokerages expect that Rayonier Inc. (NYSE:RYN) will post sales of $147.85 million for the current quarter, Zacks reports. Two analysts have made estimates for Rayonier’s earnings, with estimates ranging from $127.70 million to $168.00 million. Rayonier reported sales of $184.80 million in the same quarter last year, which would suggest a negative year over year growth rate of 20%. The business is expected to report its next quarterly earnings results on Wednesday, August 5th.
On average, analysts expect that Rayonier will report full-year sales of $765.05 million for the current year, with estimates ranging from $737.10 million to $793.00 million. For the next fiscal year, analysts expect that the firm will post sales of $753.50 million, with estimates ranging from $718.00 million to $789.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Rayonier.
Rayonier (NYSE:RYN) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the 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 firm had revenue of $259.10 million during the quarter, compared to the consensus estimate of $166.06 million. During the same period in the prior year, the business posted $0.19 earnings per share. Rayonier’s quarterly revenue was up 35.3% compared to the same quarter last year.
Rayonier stock traded down $0.30 during mid-day trading on Friday, hitting $24.11. 1,157,460 shares of the company’s stock traded hands, compared to its average volume of 718,708. The firm has a 50 day simple moving average of $23.84 and a two-hundred day simple moving average of $26.81. Rayonier has a fifty-two week low of $15.96 and a fifty-two week high of $33.10. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 52.41 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.73 and a quick ratio of 2.54.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Monday, June 15th. Rayonier’s dividend payout ratio (DPR) is presently 234.78%.
In related news, CEO David L. Nunes purchased 1,428 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average price of $23.82 per share, with a total value of $34,014.96. Following the completion of the purchase, the chief executive officer now directly owns 392,986 shares in the company, valued at $9,360,926.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of RYN. Nuveen Asset Management LLC grew its position in Rayonier by 6.1% in the first quarter. Nuveen Asset Management LLC now owns 552,834 shares of the real estate investment trust’s stock valued at $13,020,000 after acquiring an additional 31,642 shares during the last quarter. Victory Capital Management Inc. grew its position in Rayonier by 8.8% in the first quarter. Victory Capital Management Inc. now owns 2,855,809 shares of the real estate investment trust’s stock valued at $67,254,000 after acquiring an additional 231,226 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Rayonier by 257.6% in the first quarter. BNP Paribas Arbitrage SA now owns 99,218 shares of the real estate investment trust’s stock valued at $2,337,000 after acquiring an additional 71,475 shares during the last quarter. Janus Henderson Group PLC grew its position in Rayonier by 573.5% in the first quarter. Janus Henderson Group PLC now owns 56,039 shares of the real estate investment trust’s stock valued at $1,320,000 after acquiring an additional 47,718 shares during the last quarter. Finally, Texas Permanent School Fund grew its position in Rayonier by 24.4% in the first quarter. Texas Permanent School Fund now owns 110,060 shares of the real estate investment trust’s stock valued at $2,592,000 after acquiring an additional 21,609 shares during the last quarter. 88.58% of the stock is owned by institutional investors and hedge funds.
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, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
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