Rayonier (RYN) to Release Earnings on Wednesday

Rayonier (NYSE:RYN) is expected to be announcing its earnings results 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.Investors interested in participating in the company’s conference call can do so using this link.

Rayonier (NYSE:RYN) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.95%. The business had revenue of $195.00 million for the quarter, compared to the consensus estimate of $211.21 million. During the same period in the previous year, the firm earned $0.13 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. On average, analysts expect Rayonier to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Rayonier Stock Up 0.8 %

RYN opened at $26.74 on Wednesday. Rayonier has a one year low of $24.88 and a one year high of $35.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.85 and a current ratio of 1.99. The stock’s fifty day moving average is $28.35 and its 200-day moving average is $29.85. The company has a market capitalization of $3.98 billion, a PE ratio of 25.22 and a beta of 1.04.

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

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 $1.80 dividend. This is an increase from Rayonier’s previous special dividend of $0.20. Rayonier’s payout ratio is currently 107.55%.

Wall Street Analyst Weigh In

RYN has been the topic of a number of research reports. Citigroup dropped their price objective on Rayonier from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Truist Financial decreased their target price on Rayonier from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com upgraded Rayonier from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average target price of $29.67.

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.