Sylvamo (NYSE:SLVM) Releases Earnings Results, Beats Expectations By $0.40 EPS

Sylvamo (NYSE:SLVM) announced its earnings results on Friday. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.40, Briefing.com reports. The company had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. Sylvamo’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 earnings per share.

Sylvamo Trading Down 0.7 %

SLVM opened at $75.23 on Tuesday. Sylvamo has a twelve month low of $37.59 and a twelve month high of $77.32. The company has a 50-day simple moving average of $69.91 and a 200 day simple moving average of $63.65. The company has a quick ratio of 1.09, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 0.33 and a beta of 1.07.

Sylvamo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Monday, July 8th were given a dividend of $0.45 per share. This is a boost from Sylvamo’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.80 annualized dividend and a yield of 2.39%. Sylvamo’s dividend payout ratio is currently 38.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America reissued a “neutral” rating and issued a $82.00 target price (up previously from $71.00) on shares of Sylvamo in a research report on Monday. Royal Bank of Canada boosted their target price on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research report on Monday.

Sylvamo Company Profile

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.