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

Shares of Sylvamo Corporation (NYSE:SLVM) have been assigned an average recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $46.75.

SLVM has been the subject of several research analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Sylvamo in a report on Tuesday, July 14th. Wells Fargo & Company assumed coverage on Sylvamo in a research report on Wednesday, September 16th. They set an “overweight” rating and a $47.00 price objective on the stock. Zacks Research cut Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Truist Financial reiterated a “buy” rating and issued a $49.00 price target (down from $51.00) on shares of Sylvamo in a report on Monday, August 10th. Finally, Royal Bank Of Canada decreased their price objective on Sylvamo from $49.00 to $46.00 and set a “sector perform” rating on the stock in a report on Friday, July 17th.

Institutional Investors Weigh In On Sylvamo

Several hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its position in shares of Sylvamo by 5.2% during the second 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 purchasing an additional 72,177 shares in the last quarter. Allianz Asset Management GmbH boosted its position in Sylvamo by 15.8% during the 2nd 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 in the last quarter. Rokos Capital Management LLP purchased a new position in Sylvamo in the first quarter valued at about $10,802,000. Finally, SG Americas Securities LLC grew its position in shares of Sylvamo by 8.3% in the 1st quarter. SG Americas Securities LLC now owns 242,221 shares of the company’s stock worth $10,231,000 after buying an additional 18,653 shares during the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Price Performance

Shares of SLVM opened at $32.72 on Thursday. Sylvamo has a twelve month low of $31.21 and a twelve month high of $56.80. The firm has a 50 day moving average of $36.11 and a 200 day moving average of $38.60. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $1.30 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 1.17 and a beta of 0.87.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, August 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $806.00 million for 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 was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. As a group, equities research analysts anticipate that Sylvamo will post 1.53 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders 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 5.5%. The ex-dividend date of this dividend is Friday, October 2nd. Sylvamo’s payout ratio 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.