Sylvamo (NYSE:SLVM) Issues Quarterly Earnings Results

by · The Markets Daily

Sylvamo (NYSE:SLVMGet Free Report) issued its earnings results on Friday. The company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.13), Zacks reports. The firm had revenue of $846.00 million during the quarter, compared to the consensus estimate of $840.32 million. Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.44 EPS.

Sylvamo Stock Up 0.2%

SLVM stock traded up $0.07 during trading on Friday, hitting $43.15. 932,723 shares of the company’s stock traded hands, compared to its average volume of 319,990. The business has a fifty day simple moving average of $43.16 and a two-hundred day simple moving average of $48.59. Sylvamo has a 1 year low of $37.51 and a 1 year high of $98.02. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $1.74 billion, a P/E ratio of 8.25 and a beta of 0.96.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were paid a dividend of $0.45 per share. The ex-dividend date was Friday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 4.2%. Sylvamo’s dividend payout ratio (DPR) is currently 34.42%.

Hedge Funds Weigh In On Sylvamo

Hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. grew its holdings in Sylvamo by 60.7% during the second quarter. Osaic Holdings Inc. now owns 6,122 shares of the company’s stock worth $322,000 after acquiring an additional 2,313 shares during the period. State of Wyoming grew its stake in shares of Sylvamo by 55.8% during the 2nd quarter. State of Wyoming now owns 4,607 shares of the company’s stock worth $231,000 after purchasing an additional 1,650 shares during the period. Caxton Associates LLP purchased a new position in shares of Sylvamo during the 2nd quarter valued at approximately $531,000. Public Sector Pension Investment Board lifted its stake in shares of Sylvamo by 10.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 140,741 shares of the company’s stock valued at $7,051,000 after purchasing an additional 13,368 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Sylvamo by 339.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,526 shares of the company’s stock worth $177,000 after buying an additional 2,724 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank Of Canada set a $49.00 target price on Sylvamo and gave the stock a “sector perform” rating in a report on Monday, August 11th. Zacks Research upgraded shares of Sylvamo to a “strong sell” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sylvamo in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $56.50.

Read Our Latest Research Report on Sylvamo

Sylvamo Company Profile

(Get Free Report)

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.

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