Domtar Corp. (UFS) Upgraded by Bank of America Corp. to “Neutral”
Several other equities research analysts also recently weighed in on the company. Goldman Sachs Group Inc. assumed coverage on Domtar Corp. in a report on Thursday, September 22nd. They issued a neutral rating and a $40.00 price target on the stock. Macquarie reduced their price target on Domtar Corp. from $45.00 to $41.00 and set an outperform rating on the stock in a report on Thursday, September 15th. Zacks Investment Research raised Domtar Corp. from a hold rating to a strong-buy rating and set a $44.00 price objective on the stock in a research note on Wednesday, September 7th. Citigroup Inc. increased their price objective on Domtar Corp. from $37.00 to $41.00 and gave the stock a neutral rating in a research note on Tuesday, August 2nd. Finally, TheStreet raised Domtar Corp. from a hold rating to a buy rating in a research note on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $39.71.
Domtar Corp. (NYSE:UFS) opened at 37.38 on Monday. The stock has a market cap of $2.34 billion, a PE ratio of 26.12 and a beta of 1.64. Domtar Corp. has a 52 week low of $29.88 and a 52 week high of $42.95. The firm’s 50-day moving average price is $37.07 and its 200-day moving average price is $37.67.
Domtar Corp. (NYSE:UFS) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.48. Domtar Corp. had a return on equity of 6.84% and a net margin of 1.74%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts predict that Domtar Corp. will post $2.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a $0.415 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 4.44%. Domtar Corp.’s payout ratio is 116.08%.
Several hedge funds have recently bought and sold shares of UFS. BlackRock Fund Advisors boosted its stake in Domtar Corp. by 6.8% in the second quarter. BlackRock Fund Advisors now owns 6,020,617 shares of the company’s stock worth $210,782,000 after buying an additional 384,293 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Domtar Corp. by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,138,421 shares of the company’s stock worth $179,895,000 after buying an additional 587,161 shares during the last quarter. LSV Asset Management boosted its stake in Domtar Corp. by 1.4% in the second quarter. LSV Asset Management now owns 3,035,059 shares of the company’s stock worth $106,257,000 after buying an additional 42,334 shares during the last quarter. Fairpointe Capital LLC boosted its stake in Domtar Corp. by 2.8% in the first quarter. Fairpointe Capital LLC now owns 2,947,034 shares of the company’s stock worth $119,355,000 after buying an additional 81,538 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Domtar Corp. by 3.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,497,374 shares of the company’s stock worth $101,144,000 after buying an additional 88,689 shares during the last quarter. 84.60% of the stock is owned by hedge funds and other institutional investors.
About Domtar Corp.
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and absorbent hygiene products. The Company operates through two business segments: Pulp and Paper, and Personal Care. Its Pulp and Paper segment is engaged in the designing, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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