Rayonier (NYSE:RYN) Issues FY24 Earnings Guidance

Rayonier (NYSE:RYN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.36-0.40 for the period, compared to the consensus EPS estimate of $0.39. Rayonier also updated its FY 2024 guidance to 0.360-0.400 EPS.

Rayonier Stock Performance

Shares of RYN traded down $0.66 during midday trading on Friday, reaching $30.98. 1,209,305 shares of the stock were exchanged, compared to its average volume of 599,361. Rayonier has a twelve month low of $27.40 and a twelve month high of $35.29. 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 company has a market cap of $4.62 billion, a P/E ratio of 29.85 and a beta of 1.05. The stock’s 50 day simple moving average is $31.54 and its 200 day simple moving average is $30.31.

Rayonier (NYSE:RYN) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.93%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. On average, sell-side analysts expect that Rayonier will post 0.38 earnings per share for the current year.

Rayonier Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, December 17th. Rayonier’s dividend payout ratio (DPR) is presently 107.55%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial boosted their price target on Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th.

Insider Activity at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the sale, the director now directly owns 40,168 shares in the company, valued at $1,227,935.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.