Rayonier (RYN) Projected to Post Quarterly Earnings on Wednesday

Rayonier (NYSE:RYN) is expected to issue its quarterly earnings data before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of $0.20 per share and revenue of $224,070.00 billion for the quarter. Rayonier has set its FY24 guidance at $0.36-0.40 EPS and its FY 2024 guidance at 0.360-0.400 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Rayonier (NYSE:RYN) last released its quarterly earnings data 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). The company had revenue of $195.00 million during the quarter, compared to analyst estimates of $211.21 million. Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. On average, analysts expect Rayonier to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Rayonier Price Performance

Shares of RYN opened at $26.83 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $28.07 and its 200 day simple moving average is $29.81. Rayonier has a 1-year low of $24.88 and a 1-year high of $35.29. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 25.31 and a beta of 1.04.

Rayonier Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, December 12th will be paid a dividend of $1.80 per share. This is a positive change from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is currently 107.55%.

Rayonier declared that its board has approved a share repurchase program on Monday, December 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RYN shares. Truist Financial reduced their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, January 6th. StockNews.com raised shares of Rayonier from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Citigroup reduced their target price on shares of Rayonier from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.67.

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.