Rayonier (RYN) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.08. The company posted revenue of $134.80 million in the period, compared to analysts expectations of $129.08 million. The company’s revenue was down -3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.
Many Wall Street Analysts have commented on Rayonier. Shares were Reiterated by RBC Capital Mkts on Feb 12, 2016 to “Sector Perform” and Lowered the Price Target to $ 22 from a previous price target of $23 .
Rayonier opened for trading at $24.68 and hit $25.1425 on the upside on Monday, eventually ending the session at $25.08, with a gain of 1.62% or 0.4 points. The heightened volatility saw the trading volume jump to 3,48,730 shares. Company has a market cap of $3,078 M.
In a different news, on Feb 17, 2016, Scott R. Jones (director) purchased 19,382 shares at $19.87 per share price. According to the SEC, on Feb 17, 2016, David L Nunes (CEO) purchased 10,000 shares at $19.32 per share price. On Sep 11, 2015, Douglas M Long (VP, US Operations) sold 881 shares at $22.80 per share price, according to the Form-4 filing with the securities and exchange commission.
Rayonier Inc. (Rayonier) is a timberland real estate investment trust (REIT). As of December 31 2014 the Company owned leased or managed 2.7 million acres of timberlands located in the United States South (1.9 million acres) United States Pacific Northwest (372000 acres) and New Zealand (451000 gross acres or 309000 net plantable acres). In addition the Company is engaged in the trading of logs from New Zealand and Australia to Pacific Rim markets primarily to support New Zealand export operations. The Company operates through five segments: Southern Timber Pacific Northwest Timber New Zealand Timber Real Estate and Trading. The Companys Timber segments own or lease approximately 2.7 million acres of timberlands located in the United States and New Zealand. The Companys Real Estate segments holdings are primarily in the southeastern United States. The Companys Trading segment consists of log trading activities in New Zealand and Australia.