Rayonier Inc. (NYSE:RYN) Expected to Post Quarterly Sales of $196.13 Million
Brokerages expect Rayonier Inc. (NYSE:RYN) to report sales of $196.13 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Rayonier’s earnings, with the highest sales estimate coming in at $199.00 million and the lowest estimate coming in at $192.50 million. Rayonier reported sales of $245.90 million in the same quarter last year, which suggests a negative year over year growth rate of 20.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, August 7th.
On average, analysts expect that Rayonier will report full-year sales of $774.46 million for the current year, with estimates ranging from $762.00 million to $790.79 million. For the next fiscal year, analysts forecast that the business will post sales of $809.12 million, with estimates ranging from $789.00 million to $844.35 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Rayonier.
Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. Rayonier had a return on equity of 5.16% and a net margin of 10.75%. The company had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $184.31 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was down 5.8% compared to the same quarter last year.
In other Rayonier news, CFO Mark Mchugh sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $32.62, for a total transaction of $326,200.00. Following the sale, the chief financial officer now directly owns 61,613 shares of the company’s stock, valued at $2,009,816.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Pictet Asset Management Ltd. boosted its position in shares of Rayonier by 13.9% during the 1st quarter. Pictet Asset Management Ltd. now owns 2,920,647 shares of the real estate investment trust’s stock worth $92,059,000 after purchasing an additional 356,977 shares during the period. Norges Bank acquired a new stake in Rayonier during the 4th quarter worth $52,001,000. Impax Asset Management Group plc raised its stake in Rayonier by 3.3% during the 4th quarter. Impax Asset Management Group plc now owns 1,807,768 shares of the real estate investment trust’s stock worth $50,057,000 after acquiring an additional 57,712 shares in the last quarter. Marathon Asset Management LLP raised its stake in Rayonier by 1.0% during the 2nd quarter. Marathon Asset Management LLP now owns 1,693,034 shares of the real estate investment trust’s stock worth $51,301,000 after acquiring an additional 16,272 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Rayonier by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 1,342,723 shares of the real estate investment trust’s stock worth $37,179,000 after acquiring an additional 137,788 shares in the last quarter. 84.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rayonier stock traded down $0.26 on Friday, reaching $29.26. 13,959 shares of the company were exchanged, compared to its average volume of 470,403. Rayonier has a one year low of $26.30 and a one year high of $38.19. The firm has a market cap of $3.82 billion, a P/E ratio of 37.37 and a beta of 0.78. The company has a quick ratio of 2.61, a current ratio of 2.95 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average is $30.02.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.27 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 3.69%. Rayonier’s dividend 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.
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