Zacks: Brokerages Expect Rayonier (RYN) Will Announce Earnings of $0.16 Per Share

Wall Street brokerages predict that Rayonier (NYSE:RYN) will post $0.16 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Rayonier’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.17. Rayonier posted earnings of $0.05 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 220%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, May 2nd.

According to Zacks, analysts expect that Rayonier will report full-year earnings of $0.65 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.66. For the next year, analysts forecast that the firm will post earnings of $0.71 per share, with EPS estimates ranging from $0.70 to $0.74. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Rayonier.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. Rayonier had a net margin of 18.64% and a return on equity of 4.96%. The firm had revenue of $186.30 million during the quarter, compared to analysts’ expectations of $165.73 million. During the same period in the previous year, the company earned $0.05 earnings per share. Rayonier’s quarterly revenue was up 22.9% compared to the same quarter last year.

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

RYN traded down $0.18 on Thursday, reaching $36.62. The company had a trading volume of 891,717 shares, compared to its average volume of 770,965. Rayonier has a 1 year low of $26.84 and a 1 year high of $37.36. The stock has a market cap of $4,763.21, a PE ratio of 56.86, a price-to-earnings-growth ratio of 11.31 and a beta of 0.27. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Friday, March 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.73%. Rayonier’s payout ratio is 153.85%.

Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in Rayonier by 10.8% during the third quarter. Janney Montgomery Scott LLC now owns 23,078 shares of the real estate investment trust’s stock worth $667,000 after purchasing an additional 2,243 shares in the last quarter. California Public Employees Retirement System raised its holdings 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 worth $12,671,000 after purchasing an additional 14,980 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings 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 worth $4,805,000 after purchasing an additional 61,739 shares in the last quarter. Confluence Investment Management LLC raised its holdings in Rayonier by 2.7% during the fourth quarter. Confluence Investment Management LLC now owns 3,029,777 shares of the real estate investment trust’s stock worth $95,832,000 after purchasing an additional 80,466 shares in the last quarter. Finally, CrestPoint Capital Management LLC purchased a new position in Rayonier during the fourth quarter worth about $851,000. 84.27% of the stock is owned by institutional investors and hedge funds.

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About Rayonier

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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