Rayonier (NYSE:RYN) Issues FY24 Earnings Guidance

Rayonier (NYSE:RYN) updated its FY24 earnings guidance on Wednesday. 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.

Wall Street Analysts Forecast Growth

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

Rayonier Stock Down 2.1 %

RYN traded down $0.66 on Friday, hitting $30.98. 1,209,305 shares of the company were exchanged, compared to its average volume of 599,361. Rayonier has a 12 month low of $27.40 and a 12 month high of $35.29. The company has a market cap of $4.62 billion, a PE ratio of 29.85 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. The stock’s fifty day moving average is $31.54 and its 200-day moving average is $30.31.

Rayonier (NYSE:RYN) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Rayonier had a return on equity of 2.93% and a net margin of 15.84%. The company had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. During the same quarter in the previous year, the company posted $0.13 EPS. The business’s revenue was down 3.3% on a year-over-year basis. Equities research analysts predict that Rayonier will post 0.38 EPS for the current fiscal year.

Rayonier Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 annualized dividend and a yield of 3.68%. Rayonier’s dividend payout ratio is 107.55%.

Insider Buying and Selling at Rayonier

In other Rayonier 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.83% 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 December 31, 2023, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S.