Sylvamo Corporation (SLVM) To Go Ex-Dividend on October 2nd

Sylvamo Corporation (NYSE:SLVM) announced a quarterly dividend on Friday, September 11th. Stockholders of record on Friday, October 2nd will be given a dividend of $0.45 per share on Friday, October 16th. This represents a $1.80 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, October 2nd.

Sylvamo has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sylvamo to earn $5.16 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 34.9%.

Sylvamo Price Performance

Shares of Sylvamo stock opened at $34.01 on Wednesday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.26 and a beta of 0.86. The firm’s 50-day moving average price is $36.93 and its two-hundred day moving average price is $39.02. The company has a current ratio of 1.47, a quick ratio of 0.80 and a debt-to-equity ratio of 0.88. Sylvamo has a 1-year low of $33.90 and a 1-year high of $56.80.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $806.00 million during the quarter, compared to the consensus estimate of $811.25 million. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%.The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. On average, equities analysts predict that Sylvamo will post 1.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SLVM shares. Zacks Research downgraded shares of Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Sylvamo from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Sylvamo in a research report on Friday, August 7th. Wells Fargo & Company initiated coverage on shares of Sylvamo in a research report on Wednesday, September 16th. They set an “overweight” rating and a $47.00 target price on the stock. Finally, Royal Bank Of Canada reduced their target price on shares of Sylvamo from $49.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.75.

About Sylvamo

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.