Sidoti Csr Issues Optimistic Estimate for RYAM Earnings

Rayonier Advanced Materials Inc. (NYSE:RYAM) – Research analysts at Sidoti Csr boosted their Q3 2024 earnings per share estimates for shares of Rayonier Advanced Materials in a research note issued on Wednesday, October 30th. Sidoti Csr analyst D. Harriman now forecasts that the basic materials company will post earnings of ($0.18) per share for the quarter, up from their previous estimate of ($0.24). The consensus estimate for Rayonier Advanced Materials’ current full-year earnings is ($0.36) per share. Sidoti Csr also issued estimates for Rayonier Advanced Materials’ Q4 2024 earnings at ($0.47) EPS and FY2024 earnings at ($0.48) EPS.

RYAM has been the topic of several other research reports. Royal Bank of Canada boosted their price target on Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th.

Rayonier Advanced Materials Trading Down 1.0 %

Shares of RYAM stock opened at $7.95 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The company’s fifty day moving average price is $8.00 and its two-hundred day moving average price is $6.37. Rayonier Advanced Materials has a 12 month low of $2.66 and a 12 month high of $8.97.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, August 6th. The basic materials company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.26. The business had revenue of $419.00 million for the quarter, compared to analysts’ expectations of $407.10 million. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. During the same period in the previous year, the company posted ($0.25) earnings per share.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Semanteon Capital Management LP bought a new position in shares of Rayonier Advanced Materials during the third quarter worth about $601,000. Assenagon Asset Management S.A. raised its stake in Rayonier Advanced Materials by 226.8% during the third 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. nVerses Capital LLC lifted its holdings in Rayonier Advanced Materials by 121.9% during the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after buying an additional 3,900 shares during the last quarter. Creative Planning acquired a new position in shares of Rayonier Advanced Materials in the 3rd quarter worth approximately $220,000. Finally, Inspire Investing LLC bought a new stake in shares of Rayonier Advanced Materials in the 3rd quarter valued at approximately $410,000. Institutional investors own 68.64% of the company’s stock.

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.