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Rayonier (NYSE:RYN) Q3 2020 Earnings Prep

in EARNINGS/INVESTING IDEAS by

Rayonier Inc. (NYSE:RYN) is scheduled to report Q3 earnings results after markets close for trading on October 28, 2020.

The company is expected to report earnings of $0.04/share on revenue of $189.1 million. The consensus earnings per share (EPS) of $0.04/share is based on a poll of 6 analysts represent a growth over the same quarter last year, when the company reported earnings of $0/share.

The revenue forecast of $189.1 million based on a poll of 5 analysts implies a year-over-year (YoY) growth in revenue of 20.9%. Last year the company reported $156.4 million in revenue for the quarter.

Expected to report EPS of $0.04/share for Q3, 2020
Metric Expected Prior Year YoY Change
Revenue $189.12 $156.40 20.9%
EPS $0.04 $0

Earnings Call Trends

Historically, management has exceeded analyst expectations 5 out of the last 7 tracked quarters, and missed expectations 3 quarters.

What are your expectations from Rayonier Inc. for earnings this quarter? Let us know in the comments!

Analyst Expected vs. Reported EPS
Quarter Expected Reported Surprise Result
Q2, 2020 $0.04 $0.11 183.4% Beat
Q1, 2020 $0.07 $0 −1000% Missed
Q4, 2019 $0.10 $0.12 25.7% Beat
Q3, 2019 $0.04 $0 -100% Missed
Q2, 2019 $0.12 $0.14 15.9% Beat
Q1, 2019 $0.10 $0.19 91.7% Beat
Q4, 2018 $0.03 $0.02 −28.6% Missed
Q3, 2018 $0.06 $0.18 196.1% Beat

In the following table, we summarize the company’s stock price movements after earnings releases. The “Price Day Prior” column shows the closing stock price on the day before the earnings report, and the “Price Next Day” column shows the stock price at the end of the trading day after the earnings report. After the last earnings report for the period ending June 30, 2020, the stock price reacted by increasing 2.5%.

Stock Price Performance After Earnings
Report Date Price Day Prior Price Next Day Change % Result
August 5, 2020 $27.62 $28.30 2.5% Increase
April 29, 2020 $25.70 $24.03 −6.5% Decline
February 5, 2020 $29.86 $29.61 −0.8% Decline
October 30, 2019 $29.09 $26.98 −7.3% Decline

Fundamentals And Technical Analysis

Rayonier Inc. is currently trading at $26.92/share, down −3.9% for the day. The company is trading at approximately 81.3% of its 52-week high of $33.10/share. The company’s stock price is down −4.9% since the last earnings report and down −5.5% over the previous week.

The company’s 14 Day Relative Price Index (RSI) of 41.97 suggests the company is trading in technically neutral territory. The RSI is considered overbought when above 70 and oversold when below 30.


NYSE:RYN Stock Price Chart
Source: Finbox

The current share price implies a price-to-earnings (P/E) multiple of 63.71 and a forward P/E multiple of 127.16.

Rayonier Inc.’s current share price also implies a price-to-book (P/B) multiple of 2.52. The following table summarizes some other key fundamental ratios:

Data as of October 27, 2020
Metric Value
Last Reported Fiscal Period Key FY2020.Q2
Period End Date June 30, 2020
Stock Price (Current) $26.92
P/E Ratio 63.7x
P/E Ratio (Fwd) 127.2x
PEG Ratio −2.7
Total Debt / Total Capital 26.2%
Levered Free Cash Flow -$11.974 million
EV / EBITDA 23.1x

Finbox

Rayonier Inc. is a mid-cap stock with a market capitalization of $3.665 billion and a total enterprise value of $5.693 billion. The company operates in the Real Estate sector and the Equity Real Estate Investment Trusts (REITs) industry.

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 June 30, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S. South (1.8 million acres), U.S. Pacific Northwest (507,000 acres) and New Zealand (416,000 acres). The Company also acts as the managing member in a private equity timber fund business with three funds comprising approximately 141,000 acres. On a “look-through basis”, the Company’s ownership in the timber fund business equates to approximately 17,000 acres.

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