Sylvamo’s (SLVM) Neutral Rating Reiterated at Bank of America

Bank of America reaffirmed their neutral rating on shares of Sylvamo (NYSE:SLVM) in a report released on Monday, MarketBeat reports. Bank of America currently has a $82.00 price target on the stock, up from their prior price target of $71.00.

Separately, Royal Bank of Canada boosted their price objective on shares of Sylvamo from $56.00 to $63.00 and gave the company a sector perform rating in a research note on Monday, May 13th.

Sylvamo Price Performance

Shares of SLVM opened at $76.39 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. Sylvamo has a fifty-two week low of $37.59 and a fifty-two week high of $77.32. The firm has a 50-day simple moving average of $70.14 and a 200-day simple moving average of $63.92. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 0.37 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Friday, August 9th. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.58 by $0.40. The firm had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. On average, equities research analysts anticipate that Sylvamo will post 6.9 earnings per share for the current year.

Sylvamo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Monday, July 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 8th. This is a boost from Sylvamo’s previous quarterly dividend of $0.30. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.36%. Sylvamo’s dividend payout ratio is 38.38%.

Institutional Trading of Sylvamo

Large investors have recently bought and sold shares of the company. CWM LLC grew its stake in Sylvamo by 62.5% in the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after acquiring an additional 157 shares during the period. Independence Bank of Kentucky lifted its holdings in shares of Sylvamo by 6,733.3% during the 2nd quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after acquiring an additional 404 shares during the period. Fifth Third Bancorp boosted its position in shares of Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Sylvamo in the first quarter valued at approximately $45,000. Finally, Blue Trust Inc. increased its position in Sylvamo by 534.1% during the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $56,000 after purchasing an additional 689 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

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.