Sidoti Csr Has Positive Estimate for RYAM FY2024 Earnings

Rayonier Advanced Materials Inc. (NYSE:RYAM) – Sidoti Csr increased their FY2024 earnings estimates for shares of Rayonier Advanced Materials in a note issued to investors on Thursday, November 7th. Sidoti Csr analyst D. Harriman now anticipates that the basic materials company will post earnings per share of ($0.08) for the year, up from their previous estimate of ($0.48). The consensus estimate for Rayonier Advanced Materials’ current full-year earnings is ($0.08) per share. Sidoti Csr also issued estimates for Rayonier Advanced Materials’ Q4 2024 earnings at ($0.12) EPS and Q1 2025 earnings at ($0.01) EPS.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same period last year, the company earned ($0.41) earnings per share.

Several other analysts have also issued reports on RYAM. StockNews.com lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Royal Bank of Canada raised their target price on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday.

Rayonier Advanced Materials Price Performance

Shares of RYAM opened at $9.96 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. Rayonier Advanced Materials has a twelve month low of $3.02 and a twelve month high of $10.24. The stock has a market capitalization of $656.56 million, a P/E ratio of -7.78 and a beta of 3.01. The company has a 50 day moving average of $8.18 and a 200-day moving average of $6.59.

Hedge Funds Weigh In On Rayonier Advanced Materials

Large investors have recently modified their holdings of the stock. Intech Investment Management LLC bought a new position in Rayonier Advanced Materials in the 3rd quarter valued at about $139,000. Quest Partners LLC bought a new position in shares of Rayonier Advanced Materials during the third quarter worth approximately $166,000. Empowered Funds LLC lifted its holdings in Rayonier Advanced Materials by 21.9% during the 3rd quarter. Empowered Funds LLC now owns 339,592 shares of the basic materials company’s stock worth $2,907,000 after purchasing an additional 61,054 shares during the last quarter. Semanteon Capital Management LP bought a new stake in Rayonier Advanced Materials in the 3rd quarter valued at $601,000. Finally, Assenagon Asset Management S.A. grew its holdings in Rayonier Advanced Materials by 226.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company’s stock valued at $2,782,000 after buying an additional 225,575 shares in the last quarter. 68.64% of the stock is owned by institutional investors.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company’s products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.