Rayonier (NYSE:RYN) Releases FY24 Earnings Guidance

Rayonier (NYSE:RYN) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.36-0.40 for the period, compared to the consensus estimate of $0.39.

Wall Street Analysts Forecast Growth

RYN has been the subject of several analyst reports. Truist Financial upped their price target 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. StockNews.com upgraded shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th.

Rayonier Trading Down 0.7 %

Shares of Rayonier stock traded down $0.21 during trading on Wednesday, reaching $31.47. 877,891 shares of the stock were exchanged, compared to its average volume of 594,572. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. The stock’s fifty day moving average is $31.50 and its 200 day moving average is $30.29. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 31.70 and a beta of 1.05. Rayonier has a 1 year low of $27.40 and a 1 year high of $35.29.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The firm had revenue of $173.60 million for the quarter, compared to analysts’ expectations of $218.86 million. Rayonier had a return on equity of 3.00% and a net margin of 14.78%. The business’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 earnings per share. As a group, equities research analysts expect that Rayonier will post 0.38 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.285 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.14 annualized dividend and a yield of 3.62%. Rayonier’s dividend payout ratio (DPR) is presently 114.00%.

Insiders Place Their Bets

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total value of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares in the company, valued at $1,227,935.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.83% of the stock is currently owned by company insiders.

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