Rayonier Inc. (RYN) Expected to Post Quarterly Sales of $201.59 Million

Analysts expect Rayonier Inc. (NYSE:RYN) to report sales of $201.59 million for the current quarter, Zacks reports. Two analysts have made estimates for Rayonier’s earnings, with the highest sales estimate coming in at $207.58 million and the lowest estimate coming in at $195.60 million. Rayonier posted sales of $203.20 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.8%. The business is scheduled to issue its next quarterly earnings results on Wednesday, May 1st.

According to Zacks, analysts expect that Rayonier will report full-year sales of $812.10 million for the current fiscal year, with estimates ranging from $793.00 million to $831.20 million. For the next financial year, analysts anticipate that the business will post sales of $0.00. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Rayonier.

Rayonier (NYSE:RYN) last issued its quarterly earnings data on Wednesday, February 6th. The real estate investment trust reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Rayonier had a return on equity of 6.01% and a net margin of 12.52%. The business had revenue of $166.10 million for the quarter, compared to analysts’ expectations of $157.34 million. During the same period in the previous year, the firm posted $0.02 EPS. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year.

Several brokerages have issued reports on RYN. ValuEngine raised Rayonier from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. BMO Capital Markets raised Rayonier from an “underperform” rating to a “market perform” rating and set a $28.98 target price for the company in a research note on Friday. Raymond James set a $32.00 price objective on Rayonier and gave the company a “buy” rating in a research report on Tuesday, January 8th. Finally, TheStreet downgraded Rayonier from a “b” rating to a “c+” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Rayonier has a consensus rating of “Hold” and a consensus target price of $34.25.

Shares of NYSE RYN traded down $0.06 during midday trading on Monday, hitting $28.49. 723,000 shares of the company’s stock were exchanged, compared to its average volume of 672,157. Rayonier has a 12-month low of $26.30 and a 12-month high of $39.73. The company has a current ratio of 3.27, a quick ratio of 2.54 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 9.41 and a beta of 0.72.

A number of hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its holdings in shares of Rayonier by 31.6% during the third quarter. Renaissance Technologies LLC now owns 3,119,300 shares of the real estate investment trust’s stock valued at $105,464,000 after acquiring an additional 748,900 shares in the last quarter. American International Group Inc. raised its holdings in shares of Rayonier by 1.1% during 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 acquiring an additional 2,743 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Rayonier by 1.9% during the fourth quarter. State of Alaska Department of Revenue now owns 56,016 shares of the real estate investment trust’s stock valued at $1,550,000 after acquiring an additional 1,039 shares in the last quarter. Zeke Capital Advisors LLC bought a new position in shares of Rayonier during the third quarter valued at approximately $551,000. Finally, Capital Fund Management S.A. bought a new position in shares of Rayonier during the third quarter valued at approximately $211,000. Hedge funds and other institutional investors own 85.24% of the company’s stock.

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.

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