Analysts Set Sylvamo Corporation (NYSE:SLVM) Target Price at $46.67

Sylvamo Corporation (NYSE:SLVM) has been assigned a consensus rating of “Reduce” from the five research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $46.6667.

Several research firms recently weighed in on SLVM. Royal Bank Of Canada lowered their target price on Sylvamo from $49.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, July 17th. Truist Financial reaffirmed a “buy” rating and issued a $49.00 price objective (down from $51.00) on shares of Sylvamo in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a research report on Friday, August 7th. Bank of America reiterated a “neutral” rating and set a $45.00 price objective on shares of Sylvamo in a research note on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Sylvamo from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd.

Sylvamo Stock Performance

Shares of NYSE SLVM opened at $34.87 on Friday. Sylvamo has a 12-month low of $34.25 and a 12-month high of $56.80. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.27 and a beta of 0.86. The company has a current ratio of 1.47, a quick ratio of 0.80 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $37.42 and a 200 day moving average of $39.67.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Friday, August 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. Sylvamo had a net margin of 2.31% and a return on equity of 8.36%. The business had revenue of $806.00 million for the quarter, compared to the consensus estimate of $811.25 million. During the same period last year, the firm earned $0.37 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts anticipate that Sylvamo will post 1.53 earnings per share for the current year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.2%. Sylvamo’s dividend payout ratio is 95.74%.

Institutional Trading of Sylvamo

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLVM. Nykredit A S purchased a new stake in Sylvamo during the 2nd quarter valued at approximately $33,000. International Assets Investment Management LLC purchased a new position in shares of Sylvamo in the fourth quarter worth $38,000. Public Employees Retirement System of Ohio bought a new position in shares of Sylvamo during the second quarter worth $68,000. Hantz Financial Services Inc. boosted its position in shares of Sylvamo by 46.5% during the fourth quarter. Hantz Financial Services Inc. now owns 1,720 shares of the company’s stock worth $83,000 after acquiring an additional 546 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in Sylvamo by 378.3% during the second quarter. Versant Capital Management Inc now owns 2,645 shares of the company’s stock valued at $100,000 after acquiring an additional 2,092 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

Sylvamo Company Profile

Sylvamo Corporation (NYSE: SLVM) is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, education, office applications, books, envelopes and other everyday communications. Its portfolio includes consumer and business paper brands such as Hammermill, along with products sold under regional and private-label brands.

Sylvamo serves customers through operations and distribution networks in North America, Latin America and Europe. Its products are sold to merchants, retailers, businesses, publishers, printers and other commercial customers.