Rayonier Advanced Materials (NYSE:RYAM) Announces Earnings Results

Rayonier Advanced Materials (NYSE:RYAM) issued its earnings results on Tuesday. The basic materials company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06, Zacks reports. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $412.20 million. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. During the same quarter in the previous year, the company posted ($0.41) EPS.

Rayonier Advanced Materials Stock Up 21.0 %

RYAM stock traded up $1.71 during trading hours on Wednesday, reaching $9.84. 1,189,232 shares of the stock were exchanged, compared to its average volume of 530,912. The firm’s 50-day moving average is $8.04 and its 200-day moving average is $6.48. The company has a market cap of $648.36 million, a price-to-earnings ratio of -8.36 and a beta of 3.01. 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 has a 12 month low of $2.91 and a 12 month high of $10.17.

Wall Street Analysts Forecast Growth

RYAM has been the subject of several recent research reports. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada upped their price objective on shares of Rayonier Advanced Materials from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th.

About Rayonier Advanced Materials

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.