Analysts predict that Rayonier Inc. (NYSE:RYN) will post sales of $163.50 million for the current quarter, according to Zacks. Two analysts have issued estimates for Rayonier’s earnings. The highest sales estimate is $164.10 million and the lowest is $162.91 million. Rayonier posted sales of $239.70 million during the same quarter last year, which suggests a negative year-over-year growth rate of 31.8%. The firm is expected to report its next earnings report on Wednesday, February 6th.
On average, analysts expect that Rayonier will report full-year sales of $813.50 million for the current fiscal year, with estimates ranging from $812.91 million to $814.10 million. For the next year, analysts anticipate that the company will post sales of $812.10 million, with estimates ranging from $793.00 million to $831.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Rayonier.
Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12. Rayonier had a net margin of 18.48% and a return on equity of 7.34%. The business had revenue of $200.90 million during the quarter, compared to analysts’ expectations of $179.87 million. During the same period last year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis.
A number of equities research analysts have weighed in on the stock. ValuEngine cut shares of Rayonier from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Raymond James set a $32.00 price objective on shares of Rayonier and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $34.50.
Hedge funds have recently made changes to their positions in the stock. American International Group Inc. grew its holdings in shares of Rayonier by 1.1% in the third quarter. American International Group Inc. now owns 263,156 shares of the real estate investment trust’s stock valued at $8,897,000 after purchasing an additional 2,743 shares in the last quarter. Putnam Investments LLC purchased a new position in Rayonier in the second quarter worth approximately $3,399,000. Renaissance Technologies LLC lifted its stake in Rayonier by 31.6% in the third quarter. Renaissance Technologies LLC now owns 3,119,300 shares of the real estate investment trust’s stock worth $105,464,000 after acquiring an additional 748,900 shares during the last quarter. Zeke Capital Advisors LLC purchased a new position in Rayonier in the third quarter worth approximately $551,000. Finally, United Services Automobile Association lifted its stake in Rayonier by 6.9% in the third quarter. United Services Automobile Association now owns 28,453 shares of the real estate investment trust’s stock worth $962,000 after acquiring an additional 1,835 shares during the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.
Shares of RYN opened at $29.15 on Friday. Rayonier has a 1-year low of $26.30 and a 1-year high of $39.73. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 44.83, a P/E/G ratio of 8.79 and a beta of 0.61. The company has a quick ratio of 2.54, a current ratio of 2.87 and a debt-to-equity ratio of 0.57.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Monday, December 17th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Friday, December 14th. Rayonier’s dividend payout ratio (DPR) is currently 166.15%.
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 September 30, 2018, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.
Read More: Book Value Per Share – BVPS
Get a free copy of the Zacks research report on Rayonier (RYN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rayonier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier and related companies with MarketBeat.com's FREE daily email newsletter.