Rayonier (NYSE:RYN) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

by · The Markets Daily

Rayonier (NYSE:RYN – Get Free Report) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01), Briefing.com reports. The company had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.13 earnings per share. Rayonier updated its FY24 guidance to $0.36-0.40 EPS and its FY 2024 guidance to 0.360-0.400 EPS.

Rayonier Stock Performance

RYN traded up $0.09 on Thursday, hitting $31.56. The company had a trading volume of 509,873 shares, compared to its average volume of 594,180. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 31.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78. The company’s fifty day moving average price is $31.52 and its 200 day moving average price is $30.30. Rayonier has a 1-year low of $27.40 and a 1-year high of $35.29.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 annualized dividend and a dividend yield of 3.61%. Rayonier’s dividend payout ratio (DPR) is presently 114.00%.

Insider Buying and Selling at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares of the company’s stock, valued at approximately $1,227,935.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RYN. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Truist Financial raised their price objective on shares of Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th.

Check Out Our Latest Stock Report on Rayonier

About Rayonier

(Get Free Report)

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, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.

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