Rayonier (NYSE:RYN) Releases 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 Trading Down 2.1 %

RYN traded down $0.66 on Friday, reaching $30.98. 1,209,305 shares of the company traded hands, 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. The company has a market cap of $4.62 billion, a P/E ratio of 29.85 and a beta of 1.05. The firm has a fifty day simple moving average of $31.54 and a two-hundred day simple moving average of $30.31. Rayonier has a one year low of $27.40 and a one year high of $35.29.

Rayonier (NYSE:RYN) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $195.00 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, equities research analysts expect that Rayonier will post 0.38 earnings per share for the current year.

Rayonier Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on RYN. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Truist Financial lifted their price objective on shares of Rayonier from $31.00 to $32.00 and gave the company 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 the firm’s stock in a transaction dated Wednesday, September 11th. The shares were 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 approximately $1,227,935.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.83% of the stock is currently owned by corporate 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.