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 Down 2.1 %

Shares of NYSE RYN traded down $0.65 during midday trading on Friday, reaching $30.99. 1,209,305 shares of the company’s stock traded hands, compared to its average volume of 599,361. 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 stock’s 50 day simple moving average is $31.54 and its 200-day simple moving average is $30.31. Rayonier has a one year low of $27.40 and a one year high of $35.29. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 29.24 and a beta of 1.05.

Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.12 earnings per share (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 firm had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $211.21 million. During the same period in the prior year, the firm posted $0.13 earnings per share. Rayonier’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts predict that Rayonier will post 0.38 EPS for the current fiscal year.

Rayonier Announces Dividend

The company also recently declared 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. 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%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RYN. Truist Financial lifted their price target on shares of Rayonier from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. StockNews.com lowered shares of Rayonier from a “hold” rating to a “sell” rating in a report on Friday.

Insider Transactions at Rayonier

In related news, Director V. Larkin Martin sold 10,011 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $30.57, for a total transaction of $306,036.27. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.