Sylvamo (NYSE:SLVM) Price Target Raised to $88.00

Sylvamo (NYSE:SLVM) had its target price increased by Bank of America from $82.00 to $88.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Royal Bank of Canada upped their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the stock a sector perform rating in a research note on Monday, August 12th.

Sylvamo Stock Down 0.6 %

Shares of SLVM opened at $84.35 on Monday. Sylvamo has a 12-month low of $40.79 and a 12-month high of $88.42. The firm has a fifty day moving average price of $75.47 and a 200-day moving average price of $68.98. The firm has a market capitalization of $3.46 billion, a P/E ratio of 17.99, a P/E/G ratio of 4.89 and a beta of 1.07. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The company had revenue of $933.00 million during the quarter, compared to analyst estimates of $937.56 million. During the same period in the prior year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts expect that Sylvamo will post 7.4 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.13%. Sylvamo’s dividend payout ratio is presently 38.38%.

Hedge Funds Weigh In On Sylvamo

A number of large investors have recently added to or reduced their stakes in SLVM. CWM LLC increased its holdings in shares of Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after acquiring an additional 157 shares in the last quarter. Independence Bank of Kentucky increased its holdings in shares of Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after acquiring an additional 404 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after acquiring an additional 303 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Sylvamo during the first quarter valued at about $45,000. Finally, Blue Trust Inc. increased its holdings in shares of Sylvamo by 534.1% during the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $56,000 after acquiring an additional 689 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors.

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.