Sidoti Csr Has Bullish Forecast for RYAM Q3 Earnings

Rayonier Advanced Materials Inc. (NYSE:RYAM) – Stock analysts at Sidoti Csr raised their Q3 2024 EPS estimates for shares of Rayonier Advanced Materials in a report issued on Wednesday, October 30th. Sidoti Csr analyst D. Harriman now anticipates that the basic materials company will post earnings per share of ($0.18) for the quarter, up from their previous estimate of ($0.24). The consensus estimate for Rayonier Advanced Materials’ current full-year earnings is ($0.36) per share. Sidoti Csr also issued estimates for Rayonier Advanced Materials’ Q4 2024 earnings at ($0.47) EPS and FY2024 earnings at ($0.48) EPS.

RYAM has been the topic of a number of other research reports. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada raised their price target on Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th.

Rayonier Advanced Materials Stock Performance

Shares of RYAM opened at $7.95 on Friday. Rayonier Advanced Materials has a 1 year low of $2.66 and a 1 year high of $8.97. The company’s 50 day simple moving average is $8.00 and its 200 day simple moving average is $6.37. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.69 and a quick ratio of 1.09.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.26. The business had revenue of $419.00 million for the quarter, compared to the consensus estimate of $407.10 million. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. During the same period in the prior year, the business earned ($0.25) earnings per share.

Institutional Trading of Rayonier Advanced Materials

Several institutional investors have recently made changes to their positions in the stock. Semanteon Capital Management LP purchased a new position in shares of Rayonier Advanced Materials in the 3rd quarter worth $601,000. Assenagon Asset Management S.A. increased its stake in Rayonier Advanced Materials by 226.8% during the third quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company’s stock worth $2,782,000 after acquiring an additional 225,575 shares during the last quarter. nVerses Capital LLC raised its holdings in shares of Rayonier Advanced Materials by 121.9% in the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 3,900 shares during the period. Creative Planning acquired a new position in shares of Rayonier Advanced Materials in the 3rd quarter valued at about $220,000. Finally, Inspire Investing LLC purchased a new stake in shares of Rayonier Advanced Materials during the 3rd quarter worth about $410,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company’s products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.