Sylvamo Co. (SLVM) to Issue Quarterly Dividend of $0.45 on January 24th

Sylvamo Co. (NYSE:SLVM) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders of record on Monday, January 6th will be given a dividend of 0.45 per share on Friday, January 24th. This represents a $1.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, January 6th.

Sylvamo has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sylvamo to earn $8.40 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 21.4%.

Sylvamo Stock Down 0.6 %

Shares of SLVM stock traded down $0.45 during mid-day trading on Thursday, reaching $79.08. 416,057 shares of the company’s stock traded hands, compared to its average volume of 309,748. The company’s 50-day moving average price is $87.93 and its 200-day moving average price is $78.93. The company has a market cap of $3.24 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.92 and a beta of 1.08. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. Sylvamo has a 12 month low of $44.94 and a 12 month high of $98.02.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The business had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. During the same quarter in the previous year, the firm posted $1.70 earnings per share. Sylvamo’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts expect that Sylvamo will post 7.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on SLVM. Sidoti started coverage on Sylvamo in a research note on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target on the stock. Bank of America reissued an “underperform” rating and issued a $96.00 target price on shares of Sylvamo in a report on Wednesday, December 11th.

About Sylvamo

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.