Rayonier Inc. (RYN) Expected to Post Quarterly Sales of $196.78 Million

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Wall Street brokerages predict that Rayonier Inc. (NYSE:RYN) will post sales of $196.78 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Rayonier’s earnings, with the highest sales estimate coming in at $197.95 million and the lowest estimate coming in at $195.60 million. Rayonier posted sales of $203.20 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.2%. The business is scheduled to issue its next quarterly earnings results on Wednesday, May 1st.

On average, analysts expect that Rayonier will report full year sales of $792.52 million for the current financial year, with estimates ranging from $792.04 million to $793.00 million. For the next fiscal year, analysts expect that the business will report sales of $836.33 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Rayonier.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, February 6th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $166.10 million during the quarter, compared to analysts’ expectations of $157.34 million. Rayonier had a net margin of 12.52% and a return on equity of 6.01%. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 EPS.

A number of analysts have issued reports on the company. Raymond James set a $32.00 target price on Rayonier and gave the company a “buy” rating in a research report on Tuesday, January 8th. BMO Capital Markets raised Rayonier from an “underperform” rating to a “market perform” rating and set a $28.98 target price on the stock in a research report on Friday, February 8th. TheStreet lowered Rayonier from a “b” rating to a “c+” rating in a research report on Thursday, February 7th. Zacks Investment Research raised Rayonier from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Finally, ValuEngine lowered Rayonier from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $30.49.

Hedge funds have recently modified their holdings of the stock. Clean Yield Group acquired a new position in Rayonier in the fourth quarter valued at $31,000. Doyle Wealth Management acquired a new position in Rayonier in the fourth quarter valued at $50,000. Oregon Public Employees Retirement Fund boosted its stake in Rayonier by 2,669.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,418,448 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 1,367,222 shares in the last quarter. Pearl River Capital LLC acquired a new position in Rayonier in the fourth quarter valued at $81,000. Finally, Ipswich Investment Management Co. Inc. acquired a new position in Rayonier in the fourth quarter valued at $89,000. Hedge funds and other institutional investors own 85.38% of the company’s stock.

Shares of NYSE RYN opened at $29.32 on Thursday. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 11.20 and a beta of 0.68. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.02 and a current ratio of 3.27. Rayonier has a 52-week low of $26.30 and a 52-week high of $39.73.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.68%. Rayonier’s payout ratio is currently 136.71%.

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.

Read More: Why Net Income is Important to Investors

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