Sylvamo (NYSE:SLVM) Hits New 1-Year Low Following Analyst Downgrade

Shares of Sylvamo Corporation (NYSE:SLVM) hit a new 52-week low during trading on Tuesday after Bank of America lowered their price target on the stock from $45.00 to $42.00. Bank of America currently has a neutral rating on the stock. Sylvamo traded as low as $30.40 and last traded at $31.2360, with a volume of 306,675 shares. The stock had previously closed at $32.65.

Several other equities research analysts also recently issued reports on SLVM. Royal Bank Of Canada lowered their price objective on shares of 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 raised shares of Sylvamo from a “strong sell” rating to a “hold” rating in a research report on Monday. Wall Street Zen raised shares of Sylvamo from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a research note on Friday, August 7th. Finally, Truist Financial lowered their target price on Sylvamo from $49.00 to $40.00 and set a “buy” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sylvamo has a consensus rating of “Hold” and an average price target of $43.75.

Hedge Funds Weigh In On Sylvamo

Large investors have recently bought and sold shares of the company. Nykredit A S bought a new position in Sylvamo in the second quarter valued at $33,000. Farther Finance Advisors LLC lifted its position in Sylvamo by 68.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,094 shares of the company’s stock worth $36,000 after buying an additional 446 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Sylvamo during the 2nd quarter worth about $68,000. Versant Capital Management Inc lifted its position in Sylvamo by 378.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,645 shares of the company’s stock worth $100,000 after buying an additional 2,092 shares in the last quarter. Finally, Amundi bought a new stake in Sylvamo during the 1st quarter worth about $214,000. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Stock Performance

The stock’s 50 day moving average price is $35.69 and its 200 day moving average price is $38.42. 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 company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 1.26 and a beta of 0.87.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $806.00 million during 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%. Sylvamo’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. Analysts expect that Sylvamo Corporation will post 1.40 earnings per share for the current year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be given 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 is 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.