Domtar Corp. (UFS) Upgraded to Neutral at Moffett Nathanson
Other equities analysts have also issued reports about the company. Bank of America Corp. upgraded Domtar Corp. from an underperform rating to a neutral rating in a research report on Monday. Zacks Investment Research lowered Domtar Corp. from a buy rating to a hold rating in a research report on Wednesday, August 10th. DA Davidson lifted their price objective on Domtar Corp. from $30.00 to $32.00 and gave the stock an underperform rating in a research report on Thursday, July 28th. Goldman Sachs Group Inc. assumed coverage on Domtar Corp. in a research report on Thursday, September 22nd. They issued a neutral rating and a $40.00 price objective on the stock. Finally, Citigroup Inc. lifted their price objective on Domtar Corp. from $37.00 to $41.00 and gave the stock a neutral rating in a research report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $39.71.
Shares of Domtar Corp. (NYSE:UFS) opened at 37.38 on Monday. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 26.12 and a beta of 1.64. The company has a 50-day moving average price of $37.07 and a 200-day moving average price of $37.67. Domtar Corp. has a 52-week low of $29.88 and a 52-week high of $42.95.
Domtar Corp. (NYSE:UFS) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.61 earnings per share (EPS) 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 business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $0.61 EPS. Domtar Corp.’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Domtar Corp. will post $2.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a $0.415 dividend. This represents a $1.66 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Thursday, September 29th. Domtar Corp.’s payout ratio is currently 116.08%.
Hedge funds have recently modified their holdings of the company. C M Bidwell & Associates Ltd. purchased a new stake in shares of Domtar Corp. during the first quarter valued at approximately $240,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Domtar Corp. during the first quarter valued at approximately $10,040,000. BlackRock Institutional Trust Company N.A. raised 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 valued at $101,144,000 after buying an additional 88,689 shares in the last quarter. BlackRock Fund Advisors raised its stake in Domtar Corp. by 10.9% in the first quarter. BlackRock Fund Advisors now owns 5,636,324 shares of the company’s stock valued at $228,271,000 after buying an additional 553,895 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Domtar Corp. by 4.9% in the first quarter. BlackRock Group LTD now owns 258,085 shares of the company’s stock valued at $10,452,000 after buying an additional 12,151 shares in the last quarter. 84.60% of the stock is owned by 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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