Zacks: Brokerages Anticipate Rayonier (RYN) Will Announce Quarterly Sales of $190.89 Million

Analysts forecast that Rayonier (NYSE:RYN) will announce $190.89 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Rayonier’s earnings, with the lowest sales estimate coming in at $185.40 million and the highest estimate coming in at $196.39 million. Rayonier posted sales of $186.50 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, May 2nd.

According to Zacks, analysts expect that Rayonier will report full year sales of $767.93 million for the current fiscal year, with estimates ranging from $752.70 million to $783.17 million. For the next year, analysts forecast that the company will post sales of $791.41 million per share, with estimates ranging from $778.20 million to $804.61 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Rayonier.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.11. The firm had revenue of $186.30 million for the quarter, compared to the consensus estimate of $165.73 million. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. The company’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm earned $0.05 EPS.

Several brokerages have recently commented on RYN. Zacks Investment Research downgraded shares of Rayonier from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised shares of Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Citigroup assumed coverage on shares of Rayonier in a research note on Thursday, March 1st. They set a “neutral” rating and a $37.00 target price for the company. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $30.00 target price on shares of Rayonier in a research note on Friday, January 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.25.

Institutional investors and hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System grew its stake in Rayonier by 3.5% during the third 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 acquiring an additional 14,980 shares in the last quarter. CrestPoint Capital Management LLC purchased a new position in Rayonier during the fourth quarter valued at $851,000. Public Employees Retirement System of Ohio grew its stake in Rayonier by 59.0% during the third 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 acquiring an additional 61,739 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Rayonier by 12.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 213,306 shares of the real estate investment trust’s stock valued at $6,747,000 after acquiring an additional 23,849 shares in the last quarter. Finally, Impax Asset Management LTD grew its stake in Rayonier by 16.6% during the fourth quarter. Impax Asset Management LTD now owns 1,316,088 shares of the real estate investment trust’s stock valued at $41,628,000 after acquiring an additional 187,483 shares in the last quarter. 84.24% of the stock is owned by institutional investors.

Shares of RYN stock opened at $36.90 on Friday. The firm has a market cap of $4,776.12, a PE ratio of 56.77, a PEG ratio of 11.34 and a beta of 0.28. Rayonier has a one year low of $26.84 and a one year high of $37.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.68.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Friday, March 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $1.00 annualized dividend and a yield of 2.71%. Rayonier’s payout ratio is 153.85%.

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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, 2017, Rayonier owned, leased or managed approximately 2.6 million acres of timberlands located in the U.S.

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