Sylvamo (NYSE:SLVM) Announces Earnings Results, Misses Expectations By $0.13 EPS

Sylvamo (NYSE:SLVM) announced its earnings results on Friday. The company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.13), Zacks reports. The firm had revenue of $846.00 million during the quarter, compared to analyst estimates of $840.32 million. Sylvamo had a net margin of 6.11% and a return on equity of 23.99%. Sylvamo’s revenue was down 12.3% on a year-over-year basis. During the same quarter last year, the business earned $2.44 earnings per share.

Sylvamo Stock Performance

Shares of NYSE:SLVM traded up $0.07 during trading on Friday, hitting $43.15. The stock had a trading volume of 932,723 shares, compared to its average volume of 319,990. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.80. Sylvamo has a 12-month low of $37.51 and a 12-month high of $98.02. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 8.25 and a beta of 0.96. The stock has a 50-day simple moving average of $43.16 and a two-hundred day simple moving average of $48.59.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. Sylvamo’s dividend payout ratio is currently 34.42%.

Hedge Funds Weigh In On Sylvamo

A number of institutional investors have recently bought and sold shares of SLVM. EverSource Wealth Advisors LLC increased its position in shares of Sylvamo by 185.5% in the second quarter. EverSource Wealth Advisors LLC now owns 982 shares of the company’s stock valued at $49,000 after buying an additional 638 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Sylvamo by 339.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,526 shares of the company’s stock valued at $177,000 after buying an additional 2,724 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Sylvamo by 28.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,567 shares of the company’s stock valued at $179,000 after acquiring an additional 794 shares during the period. State of Wyoming increased its holdings in Sylvamo by 55.8% in the 2nd quarter. State of Wyoming now owns 4,607 shares of the company’s stock worth $231,000 after acquiring an additional 1,650 shares in the last quarter. Finally, Oxford Asset Management LLP acquired a new position in Sylvamo during the second quarter worth $241,000. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on SLVM. Weiss Ratings reiterated a “hold (c)” rating on shares of Sylvamo in a report on Wednesday, October 8th. Zacks Research raised Sylvamo to a “strong sell” rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada set a $49.00 price target on Sylvamo and gave the company a “sector perform” rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $56.50.

Sylvamo Company Profile

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.