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

Shares of Sylvamo Corporation (NYSE:SLVM) have received an average recommendation of “Hold” from the six analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $44.50.

SLVM has been the subject of a number of research reports. Zacks Research downgraded shares of Sylvamo from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Sylvamo from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Bank of America restated a “neutral” rating and set a $45.00 price objective on shares of Sylvamo in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a research report on Friday, August 7th. Finally, Wells Fargo & Company initiated coverage on shares of Sylvamo in a research note on Wednesday, September 16th. They issued an “overweight” rating and a $47.00 target price for the company.

Hedge Funds Weigh In On Sylvamo

Several large investors have recently added to or reduced their stakes in SLVM. State Street Corp lifted its holdings in shares of 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 acquiring an additional 69,299 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Sylvamo by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock valued at $57,547,000 after acquiring an additional 72,177 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Sylvamo by 15.8% in the second quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company’s stock valued at $19,132,000 after acquiring an additional 69,195 shares during the period. Rokos Capital Management LLP bought a new stake in Sylvamo in the first quarter valued at about $10,802,000. Finally, SG Americas Securities LLC increased its stake in Sylvamo by 8.3% in the first quarter. SG Americas Securities LLC now owns 242,221 shares of the company’s stock valued at $10,231,000 after acquiring an additional 18,653 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Stock Down 4.3%

SLVM opened at $31.24 on Thursday. Sylvamo has a 1-year low of $30.40 and a 1-year high of $56.80. 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 stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.17 and a beta of 0.87. The business has a 50 day moving average of $35.96 and a 200-day moving average of $38.54.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data 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 business had revenue of $806.00 million for the quarter, compared to the consensus estimate of $811.25 million. During the same quarter last year, the company posted $0.37 earnings per share. Sylvamo’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Sylvamo will post 1.53 earnings per share for the current year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, October 2nd. Sylvamo’s payout ratio is currently 95.74%.

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.