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.

Rayonier Stock Performance

RYN traded down $0.65 on Friday, reaching $30.99. The stock 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 current ratio of 1.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.75. The business’s 50-day moving average price is $31.54 and its two-hundred day moving average price is $30.31. The company has a market cap of $4.62 billion, a P/E ratio of 29.24 and a beta of 1.05.

Rayonier (NYSE:RYN) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Rayonier had a net margin of 15.84% and a return on equity of 2.93%. The firm had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $211.21 million. During the same period in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Sell-side analysts forecast that Rayonier will post 0.38 earnings per share for the current year.

Rayonier Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.285 per share. The ex-dividend date 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 is currently 107.55%.

Analyst Ratings Changes

A number of analysts have recently commented on RYN shares. StockNews.com cut shares of Rayonier from a “hold” rating to a “sell” rating in a research note on Friday. Truist Financial boosted their target price on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th.

Insider Activity at Rayonier

In other Rayonier news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.83% of the stock is owned by corporate 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.