Sylvamo (NYSE:SLVM) Stock Gets Price Target Cut from Truist Financial

Sylvamo (NYSE:SLVM) had its target price trimmed by Truist Financial from $49.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

SLVM has been the topic of several other reports. Wall Street Zen upgraded Sylvamo from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Royal Bank Of Canada reduced their price target on Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a research report on Friday, July 17th. Zacks Research lowered Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sylvamo in a research note on Friday, August 7th. Finally, Wells Fargo & Company started coverage on Sylvamo in a research note on Wednesday, September 16th. They issued an “overweight” rating and a $47.00 price target for the company. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $43.75.

Sylvamo Price Performance

Shares of NYSE:SLVM opened at $32.14 on Monday. The firm’s 50 day moving average is $35.69 and its two-hundred day moving average is $38.42. Sylvamo has a 52 week low of $30.40 and a 52 week high of $56.80. The firm has a market capitalization of $1.28 billion, a P/E ratio of 15.93, a PEG ratio of 1.26 and a beta of 0.87. 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 (NYSE:SLVM) last released its quarterly earnings results on Friday, August 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $806.00 million for the quarter, compared to analysts’ expectations 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 earnings per share. Analysts anticipate that Sylvamo will post 1.40 earnings per share for the current year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.80 annualized dividend and a yield of 5.6%. Sylvamo’s dividend payout ratio (DPR) is presently 95.74%.

Institutional Trading of Sylvamo

Institutional investors have recently made changes to their positions in the stock. Nykredit A S bought a new position in shares of Sylvamo in the second quarter valued at approximately $33,000. Farther Finance Advisors LLC increased its stake in shares of Sylvamo by 68.8% during the third quarter. Farther Finance Advisors LLC now owns 1,094 shares of the company’s stock valued at $36,000 after acquiring an additional 446 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Sylvamo during the second quarter valued at approximately $68,000. Versant Capital Management Inc raised its holdings in Sylvamo by 378.3% during the second quarter. Versant Capital Management Inc now owns 2,645 shares of the company’s stock worth $100,000 after purchasing an additional 2,092 shares in the last quarter. Finally, Amundi bought a new stake in Sylvamo during the first quarter worth approximately $214,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Company Profile

Sylvamo Corporation (NYSE: SLVM) is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, copying, office applications, and other commercial and industrial purposes. Its portfolio includes cut-size office paper, offset and publishing papers, and specialty paper products sold under brands such as Hammermill, Springhill, and Williamsburg.

Headquartered in Memphis, Tennessee, Sylvamo serves customers through operations and sales networks in North America, Latin America, and Europe.