Sylvamo Corporation (NYSE:SLVM) Stock Has Consensus Price Target of $46.75 According to Brokerages

Sylvamo Corporation (NYSE:SLVM) has been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One 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 12-month price target among brokers that have issued a report on the stock in the last year is $43.75.

SLVM has been the topic of several research analyst reports. Zacks Research raised Sylvamo from a “strong sell” rating to a “hold” rating in a report on Monday. Wall Street Zen raised Sylvamo from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a 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 report on Wednesday. Finally, Truist Financial reduced their price objective on Sylvamo from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Monday.

Institutional Investors Weigh In On Sylvamo

A number of large investors have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Sylvamo by 5.2% in 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 raised its holdings in Sylvamo by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock worth $57,547,000 after purchasing an additional 72,177 shares during the period. Allianz Asset Management GmbH raised its holdings in Sylvamo by 15.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company’s stock worth $19,132,000 after purchasing an additional 69,195 shares during the period. Rokos Capital Management LLP bought a new position in Sylvamo in the 1st quarter worth $10,802,000. Finally, SG Americas Securities LLC lifted its position in Sylvamo by 8.3% during the first quarter. SG Americas Securities LLC now owns 242,221 shares of the company’s stock valued at $10,231,000 after purchasing an additional 18,653 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Stock Down 0.1%

Shares of Sylvamo stock opened at $32.14 on Thursday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.26 and a beta of 0.87. The company’s 50 day moving average is $35.69 and its 200 day moving average is $38.42. Sylvamo has a twelve month low of $30.40 and a twelve month high of $56.80. 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 (NYSE:SLVM) last issued its earnings results on Friday, August 7th. The company reported $0.03 earnings per share (EPS) 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 company had revenue of $806.00 million for the quarter, compared to analysts’ expectations of $811.25 million. During the same quarter last year, the company posted $0.37 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts anticipate that Sylvamo will post 1.40 EPS for the current year.

Sylvamo Dividend Announcement

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

About Sylvamo

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.