Sylvamo Co. (NYSE:SLVM) Declares $0.45 Quarterly Dividend

Sylvamo Co. (NYSE:SLVM) declared a quarterly dividend on Friday, September 13th, Wall Street Journal reports. Investors of record on Thursday, October 3rd will be given a dividend of 0.45 per share on Thursday, October 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, October 3rd.

Sylvamo has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sylvamo to earn $8.30 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 21.7%.

Sylvamo Stock Down 3.3 %

SLVM opened at $83.00 on Wednesday. The business has a 50 day moving average price of $76.71 and a two-hundred day moving average price of $69.80. Sylvamo has a 52 week low of $40.79 and a 52 week high of $88.42. The company has a market cap of $3.40 billion, a PE ratio of 17.70, a P/E/G ratio of 5.00 and a beta of 1.07. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08.

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

Wall Street Analysts Forecast Growth

SLVM has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Bank of America raised their price target on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd.

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.