Rayonier Advanced Materials Inc (RYAM) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.16. Analysts had a consensus of $0.20. The company posted revenue of $218.00 million in the period, compared to analysts expectations of $210.16 million. The company’s revenue was down -1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.
Many Wall Street Analysts have commented on Rayonier Advanced Materials Inc. RBC Capital Mkts Downgraded Rayonier Advanced Materials Inc on Apr 25, 2016 to ” Underperform”, Price Target of the shares are set at $8.Shares were Reiterated by RBC Capital Mkts on Feb 3, 2016 to “Sector Perform” and Lowered the Price Target to $ 8 from a previous price target of $9 .
Rayonier Advanced Materials Inc closed down -0.16 points or -1.48% at $10.67 with 4,87,793 shares getting traded on Wednesday. Post opening the session at $10.79, the shares hit an intraday low of $10.64 and an intraday high of $11.26 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Sep 3, 2015, Lisa M Palumbo (director) purchased 5,000 shares at $5.94 per share price. According to the SEC, on Aug 26, 2015, Frank A Ruperto (CFO) purchased 5,000 shares at $6.61 per share price. On Aug 26, 2015, Paul G Boynton (CEO) purchased 15,000 shares at $6.47 per share price, according to the Form-4 filing with the securities and exchange commission.
Rayonier Advanced Materials Inc. (Rayonier Advanced Materials) is primarily engaged in producing cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Cellulose specialties are polymers used as raw materials to manufacture consumer-oriented products such as cigarette filters liquid crystal displays impact-resistant plastics thickeners for food products pharmaceuticals cosmetics high-tenacity rayon yarn for tires and industrial hoses food casings paints and lacquers. Commodity products include commodity viscose and absorbent materials. Commodity products include commodity viscose and absorbent materials.