FY2019 EPS Estimates for Rayonier Advanced Materials Inc Reduced by DA Davidson (NYSE:RYAM)

Rayonier Advanced Materials Inc (NYSE:RYAM) – Investment analysts at DA Davidson lowered their FY2019 earnings estimates for shares of Rayonier Advanced Materials in a research note issued on Wednesday, November 6th. DA Davidson analyst S. Chercover now anticipates that the basic materials company will post earnings of ($1.35) per share for the year, down from their prior estimate of ($1.05). DA Davidson also issued estimates for Rayonier Advanced Materials’ Q4 2019 earnings at ($0.20) EPS and FY2020 earnings at ($0.50) EPS.

A number of other equities analysts have also issued reports on RYAM. Bank of America lowered shares of Rayonier Advanced Materials from a “buy” rating to an “underperform” rating in a research report on Thursday, August 8th. Zacks Investment Research upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Wednesday. Berenberg Bank lowered shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating and lowered their target price for the stock from $15.00 to $5.00 in a research report on Wednesday, October 16th. Royal Bank of Canada set a $10.00 target price on shares of Rayonier Advanced Materials and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, ValuEngine upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Rayonier Advanced Materials presently has an average rating of “Hold” and an average price target of $9.50.

Shares of RYAM opened at $4.35 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.09 and a debt-to-equity ratio of 1.90. The firm has a market cap of $174.97 million, a PE ratio of 2.57 and a beta of 3.78. The company’s 50 day simple moving average is $4.28 and its 200-day simple moving average is $5.94. Rayonier Advanced Materials has a 12-month low of $2.50 and a 12-month high of $15.66.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Monday, November 4th. The basic materials company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.16). The business had revenue of $416.00 million for the quarter, compared to analysts’ expectations of $471.24 million. Rayonier Advanced Materials had a negative return on equity of 5.65% and a negative net margin of 1.99%. The business’s revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share.

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Several hedge funds and other institutional investors have recently modified their holdings of RYAM. DDD Partners LLC acquired a new stake in shares of Rayonier Advanced Materials during the second quarter worth $2,848,000. Grace & White Inc. NY lifted its holdings in shares of Rayonier Advanced Materials by 50.7% during the third quarter. Grace & White Inc. NY now owns 992,112 shares of the basic materials company’s stock worth $4,296,000 after purchasing an additional 333,607 shares during the period. Marshall Wace North America L.P. acquired a new stake in Rayonier Advanced Materials in the second quarter valued at $1,408,000. Prudential Financial Inc. lifted its holdings in Rayonier Advanced Materials by 21.2% in the second quarter. Prudential Financial Inc. now owns 1,128,947 shares of the basic materials company’s stock valued at $7,327,000 after acquiring an additional 197,163 shares during the period. Finally, Alambic Investment Management L.P. acquired a new stake in Rayonier Advanced Materials in the second quarter valued at $875,000. 90.14% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Paul G. Boynton purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average cost of $3.63 per share, with a total value of $363,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 500,594 shares in the company, valued at $1,817,156.22. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.09% of the stock is owned by company insiders.

About Rayonier Advanced Materials

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

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