Sylvamo Corporation (NYSE:SLVM) Stock Has Average Target Price of $41.00

Sylvamo Corporation (NYSE:SLVM) has received a consensus rating of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $41.00.

Several brokerages have recently weighed in on SLVM. Truist Financial decreased their target price on shares of Sylvamo from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Royal Bank Of Canada lowered their price target on Sylvamo from $46.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, October 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Sylvamo in a research report on Friday, August 7th. Bank of America reduced their price objective on Sylvamo from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Finally, Wall Street Zen raised Sylvamo from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd.

Institutional Trading of Sylvamo

Several hedge funds and other institutional investors have recently made changes to their positions in SLVM. State Street Corp increased its position in Sylvamo by 5.2% during the 2nd quarter. State Street Corp now owns 1,389,749 shares of the company’s stock worth $52,533,000 after purchasing an additional 69,299 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Sylvamo by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock valued at $57,547,000 after buying an additional 72,177 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Sylvamo by 15.8% during the second quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company’s stock valued at $19,132,000 after buying an additional 69,195 shares in the last quarter. Rokos Capital Management LLP purchased a new stake in Sylvamo during the first quarter worth approximately $10,802,000. Finally, Bank of America Corp DE grew its stake in Sylvamo by 81.6% during the first quarter. Bank of America Corp DE now owns 224,199 shares of the company’s stock worth $9,470,000 after buying an additional 100,746 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Trading Up 6.0%

NYSE SLVM opened at $33.67 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.88. Sylvamo has a 52 week low of $30.40 and a 52 week high of $56.80. The stock has a market capitalization of $1.34 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.49 and a beta of 0.87. The firm has a 50 day moving average of $34.02 and a two-hundred day moving average of $39.91.

Sylvamo (NYSE:SLVM) last posted 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. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%. The company had revenue of $806.00 million for the quarter, compared to analysts’ expectations of $811.25 million. During the same period last year, the firm earned $0.37 earnings per share. Sylvamo’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts expect that Sylvamo will post 1.32 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Friday, October 2nd. Sylvamo’s payout ratio is currently 95.74%.

About Sylvamo

Sylvamo Corporation is a global producer of uncoated paper products. The company manufactures papers used for printing, copying, writing, publishing, commercial applications, notebooks, envelopes and other everyday communication needs. Its portfolio includes branded and private-label products serving businesses, retailers, publishers, printers and consumers.

Sylvamo operates paper mills and related facilities in North America, Latin America and Europe, with products sold to customers in numerous markets worldwide.