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Rayonier's (RYN) Q1 Earnings Miss Estimates, Decline Y/Y
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Rayonier Inc.’s (RYN - Free Report) reported first-quarter 2016 pro forma net income per share of 5 cents, missing the Zacks Consensus Estimate of 9 cents. Also, the bottom line came in lower than the prior-year quarter’s figure of 11 cents.
Total sales for the quarter came in at $186.5 million, up 38.4% year over year. Also, it surpassed the Zacks Consensus Estimate of $152 million.
Segmental Performance
During the quarter, pro forma operating income at the company’s Southern Timber segment declined to $13.9 million from $15.8 million recorded a year ago.
The Pacific Northwest Timber posted pro forma operating loss of $0.9 million. Pro forma operating income in first-quarter 2016 was of $1.4 million.
New Zealand Timber posted pro forma operating income of $10.3 million, up from the prior-year quarter figure of $4.7 million.
Real Estate posted pro forma operating income of $1.5 million, reflecting a decline from the year-ago figure of $4.2 million.
Trading segment posted pro forma operating income of $1.1 million, up from the year-ago figure of $0.4 million.
Lastly, pro forma operating loss at the Corporate and Other segment narrowed to $4.1 million from a loss of $4.3 million incurred in first-quarter 2016.
Liquidity
Rayonier ended the quarter with $219.4 million in cash and cash equivalents, up from $85.9 million recorded at the end of fourth-quarter 2016. Total long-term debt was $1.03 billion, reflecting a slight decrease from the Dec 31, 2016 figure.
Our Viewpoint
Continuous divestiture of non-strategic timberlands as well as re-investment in strategic timberlands, and strong pulpwood demand from key markets bode well for Rayonier in the long run.
However, tough compliance requirements, cut-throat competition with national and local players and foreign exchange fluctuations keep us concerned about this Zacks Rank #2 (Buy) stock.
Few other REITs which are slated to report results soon are Welltower Inc. , Regency Centers Corporation (REG - Free Report) and Mack-Cali Realty Corporation .
Will You Make a Fortune on the Shift to Electric Cars?
Here’s another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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Rayonier's (RYN) Q1 Earnings Miss Estimates, Decline Y/Y
Rayonier Inc.’s (RYN - Free Report) reported first-quarter 2016 pro forma net income per share of 5 cents, missing the Zacks Consensus Estimate of 9 cents. Also, the bottom line came in lower than the prior-year quarter’s figure of 11 cents.
Total sales for the quarter came in at $186.5 million, up 38.4% year over year. Also, it surpassed the Zacks Consensus Estimate of $152 million.
Segmental Performance
During the quarter, pro forma operating income at the company’s Southern Timber segment declined to $13.9 million from $15.8 million recorded a year ago.
The Pacific Northwest Timber posted pro forma operating loss of $0.9 million. Pro forma operating income in first-quarter 2016 was of $1.4 million.
New Zealand Timber posted pro forma operating income of $10.3 million, up from the prior-year quarter figure of $4.7 million.
Real Estate posted pro forma operating income of $1.5 million, reflecting a decline from the year-ago figure of $4.2 million.
Trading segment posted pro forma operating income of $1.1 million, up from the year-ago figure of $0.4 million.
Lastly, pro forma operating loss at the Corporate and Other segment narrowed to $4.1 million from a loss of $4.3 million incurred in first-quarter 2016.
Liquidity
Rayonier ended the quarter with $219.4 million in cash and cash equivalents, up from $85.9 million recorded at the end of fourth-quarter 2016. Total long-term debt was $1.03 billion, reflecting a slight decrease from the Dec 31, 2016 figure.
Our Viewpoint
Continuous divestiture of non-strategic timberlands as well as re-investment in strategic timberlands, and strong pulpwood demand from key markets bode well for Rayonier in the long run.
However, tough compliance requirements, cut-throat competition with national and local players and foreign exchange fluctuations keep us concerned about this Zacks Rank #2 (Buy) stock.
Rayonier Inc. Price, Consensus and EPS Surprise
Rayonier Inc. Price, Consensus and EPS Surprise | Rayonier Inc. Quote
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Few other REITs which are slated to report results soon are Welltower Inc. , Regency Centers Corporation (REG - Free Report) and Mack-Cali Realty Corporation .
Will You Make a Fortune on the Shift to Electric Cars?
Here’s another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It’s not the one you think.
See This Ticker Free >>