Brokerages Set Sylvamo Corporation (NYSE:SLVM) Price Target at $46.67

Sylvamo Corporation (NYSE:SLVM) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $46.75.

Several research firms have recently weighed in on SLVM. Wells Fargo & Company initiated coverage on Sylvamo in a report on Wednesday. They issued an “overweight” rating and a $47.00 price objective for the company. Bank of America reissued a “neutral” rating and issued a $45.00 target price on shares of Sylvamo in a report on Tuesday, July 14th. Royal Bank Of Canada decreased their price target on Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a report on Friday, July 17th. Wall Street Zen upgraded shares of Sylvamo from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Sylvamo in a research note on Friday, August 7th.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $36.79 on Friday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The stock’s 50-day moving average is $37.34 and its two-hundred day moving average is $39.53. Sylvamo has a 1-year low of $34.25 and a 1-year high of $56.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.47 and a quick ratio of 0.80.

Sylvamo (NYSE:SLVM) last posted its earnings results on Friday, August 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $806.00 million for the quarter, compared to analyst estimates of $811.25 million. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%.Sylvamo’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. Analysts forecast that Sylvamo will post 1.53 EPS for the current fiscal 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 issued a $0.45 dividend. The ex-dividend date is Friday, October 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.9%. Sylvamo’s dividend payout ratio is currently 95.74%.

Hedge Funds Weigh In On Sylvamo

Several hedge funds have recently bought and sold shares of SLVM. Sequoia Financial Advisors LLC purchased a new position in Sylvamo in the 2nd quarter valued at about $224,000. Tidal Investments LLC acquired a new stake in Sylvamo during the second quarter worth approximately $1,299,000. Engineers Gate Manager LP grew its stake in Sylvamo by 115.8% in the 2nd quarter. Engineers Gate Manager LP now owns 15,757 shares of the company’s stock worth $596,000 after acquiring an additional 8,457 shares during the period. Squarepoint Ops LLC purchased a new stake in Sylvamo in the 2nd quarter worth approximately $746,000. Finally, Nykredit A S acquired a new position in Sylvamo in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Company Profile

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.