Rayonier (NYSE:RYN) Updates 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.

Rayonier Stock Performance

Shares of Rayonier stock traded down $0.66 on Friday, reaching $30.98. 1,209,305 shares of the stock were exchanged, compared to its average volume of 599,361. Rayonier has a twelve month low of $27.40 and a twelve month high of $35.29. The business has a 50 day moving average price of $31.54 and a two-hundred day moving average price of $30.31. 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 firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 29.85 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 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 analyst estimates of $211.21 million. During the same period last year, the business earned $0.13 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. Analysts anticipate that Rayonier will post 0.38 earnings per share for the current fiscal year.

Rayonier Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RYN. StockNews.com upgraded 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 Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th.

Insider Transactions at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the firm’s 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 owns 40,168 shares of the company’s stock, valued at $1,227,935.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.