Sylvamo (NYSE:SLVM) Stock Price Down 7.6% – Here’s Why

14 Nov 2024, 22:24 by Kim Johansen · The Markets Daily

Sylvamo Co. (NYSE:SLVM – Get Free Report)’s share price fell 7.6% during mid-day trading on Tuesday . The company traded as low as $87.15 and last traded at $88.19. 57,638 shares changed hands during trading, a decline of 82% from the average session volume of 312,381 shares. The stock had previously closed at $95.44.

Analysts Set New Price Targets

A number of research firms have issued reports on SLVM. Sidoti began coverage on Sylvamo in a research note on Tuesday, October 15th. They set a “buy” rating and a $100.00 price target for the company. Bank of America boosted their price target on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price target on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th.

Get Our Latest Stock Analysis on SLVM

Sylvamo Trading Up 3.5 %

The stock has a 50 day moving average of $83.59 and a 200-day moving average of $75.29. The company has a market capitalization of $3.45 billion, a P/E ratio of 12.66, a P/E/G ratio of 4.74 and a beta of 1.08. The company has a current ratio of 1.72, a quick ratio of 1.05 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM – Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.26. The company had revenue of $965.00 million during the quarter, compared to the consensus estimate of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.70 EPS. On average, research analysts predict that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.14%. Sylvamo’s dividend payout ratio is presently 27.99%.

Institutional Trading of Sylvamo

Hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC grew its position in Sylvamo by 4.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,870 shares of the company’s stock valued at $795,000 after acquiring an additional 547 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Sylvamo by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company’s stock worth $1,909,000 after buying an additional 400 shares in the last quarter. Sei Investments Co. grew its position in shares of Sylvamo by 3.6% during the 1st quarter. Sei Investments Co. now owns 31,443 shares of the company’s stock worth $1,941,000 after buying an additional 1,096 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Sylvamo by 2.4% during the 1st quarter. Russell Investments Group Ltd. now owns 23,403 shares of the company’s stock worth $1,445,000 after buying an additional 548 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Sylvamo by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 7,211 shares of the company’s stock worth $445,000 after buying an additional 497 shares in the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

About Sylvamo

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