Rayonier (NYSE:RYN) Issues 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.

Analyst Ratings Changes

Several research firms have recently commented on RYN. Truist Financial lifted their target price on Rayonier from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th.

Rayonier Trading Down 2.1 %

Shares of NYSE RYN traded down $0.66 during midday trading on Friday, hitting $30.98. The stock had a trading volume of 1,209,305 shares, compared to its average volume of 599,361. The company’s 50-day simple moving average is $31.54 and its 200 day simple moving average is $30.31. The firm has a market cap of $4.62 billion, a P/E ratio of 29.85 and a beta of 1.05. Rayonier has a fifty-two week low of $27.40 and a fifty-two week high of $35.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.78.

Rayonier (NYSE:RYN) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $211.21 million. During the same period last year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Research analysts anticipate that Rayonier will post 0.38 EPS for the current year.

Rayonier Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.68%. Rayonier’s dividend payout ratio (DPR) is presently 107.55%.

Insider Buying and Selling

In related news, Director V. Larkin Martin sold 10,011 shares of Rayonier stock in a transaction on Wednesday, September 11th. The stock was 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 of the company’s stock, valued at $1,227,935.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.83% of the stock is owned by insiders.

About Rayonier

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.