Rayonier (NYSE:RYN) Updates FY 2024 Earnings Guidance

Rayonier (NYSE:RYN) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RYN shares. StockNews.com lowered shares of Rayonier from a “hold” rating to a “sell” rating in a research report 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 research report on Tuesday, October 15th.

Rayonier Stock Performance

Shares of NYSE RYN traded down $0.65 during 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. Rayonier has a 12 month low of $27.40 and a 12 month high of $35.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.78 and a current ratio of 1.98. The firm has a market capitalization of $4.62 billion, a P/E ratio of 29.24 and a beta of 1.05. The stock has a 50 day simple moving average of $31.54 and a 200 day simple moving average of $30.31.

Rayonier (NYSE:RYN) last released its earnings results 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). The firm had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. Rayonier had a return on equity of 2.93% and a net margin of 15.84%. Rayonier’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. As a group, analysts anticipate that Rayonier will post 0.38 earnings per share for the current year.

Rayonier Dividend Announcement

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

Insiders Place Their Bets

In other news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $30.57, for a total value of $306,036.27. Following the transaction, the director now directly owns 40,168 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is currently owned by company 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.