Rayonier (NYSE:RYN) Releases FY 2024 Earnings Guidance

Rayonier (NYSE:RYN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.360-0.400 for the period, compared to the consensus earnings per share estimate of 0.370. The company issued revenue guidance of -. Rayonier also updated its FY24 guidance to $0.36-0.40 EPS.

Rayonier Stock Down 2.1 %

Rayonier stock traded down $0.65 during mid-day trading on Friday, hitting $30.99. The company had a trading volume of 1,209,305 shares, compared to its average volume of 599,361. The company has a quick ratio of 1.78, a current ratio of 1.98 and a debt-to-equity ratio of 0.75. Rayonier has a 1 year low of $27.40 and a 1 year high of $35.29. The business has a fifty day moving average of $31.54 and a 200 day moving average of $30.31. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 29.24 and a beta of 1.05.

Rayonier (NYSE:RYN) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.93%. The firm had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $211.21 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, sell-side analysts expect that Rayonier will post 0.38 earnings per share for the current fiscal 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 issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Tuesday, December 17th. Rayonier’s dividend payout ratio is presently 107.55%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com cut shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Friday. Truist Financial increased their price target on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th.

Insiders Place Their Bets

In other news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of the sale, the director now directly owns 40,168 shares in the company, valued at approximately $1,227,935.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.83% of the stock is currently owned by company insiders.

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.