$1.35 Billion in Sales Expected for Domtar Corporation (NYSE:UFS) This Quarter
Wall Street analysts expect Domtar Corporation (NYSE:UFS) (TSE:UFS) to post $1.35 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Domtar Corporation’s earnings. The lowest sales estimate is $1.28 billion and the highest is $1.43 billion. Domtar Corporation reported sales of $1.27 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The company is expected to issue its next quarterly earnings report before the market opens on Friday, July 28th.
According to Zacks, analysts expect that Domtar Corporation will report full-year sales of $1.35 billion for the current financial year, with estimates ranging from $5.16 billion to $5.52 billion. For the next financial year, analysts anticipate that the business will report sales of $5.28 billion per share, with estimates ranging from $5.18 billion to $5.43 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Domtar Corporation.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last posted its quarterly earnings results on Friday, July 28th. The basic materials company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.08. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Domtar Corporation had a return on equity of 6.50% and a net margin of 2.82%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share.
UFS has been the topic of a number of recent analyst reports. BidaskClub cut shares of Domtar Corporation from a “hold” rating to a “sell” rating in a research report on Thursday. Raymond James Financial, Inc. reissued an “outperform” rating and set a $52.00 price target on shares of Domtar Corporation in a research report on Friday, April 28th. Zacks Investment Research cut shares of Domtar Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 6th. TD Securities reissued a “hold” rating and set a $42.00 price target on shares of Domtar Corporation in a research report on Friday, April 28th. Finally, Scotiabank lifted their price target on shares of Domtar Corporation from $38.50 to $40.50 and gave the stock a “sector perform” rating in a research report on Friday, April 28th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Domtar Corporation currently has a consensus rating of “Hold” and a consensus price target of $41.25.
Shares of Domtar Corporation (UFS) traded up 2.18% during mid-day trading on Wednesday, reaching $39.33. 896,956 shares of the company’s stock traded hands. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 17.10 and a beta of 1.49. Domtar Corporation has a 52 week low of $33.99 and a 52 week high of $44.58. The company’s 50 day moving average is $38.04 and its 200-day moving average is $38.49.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were issued a dividend of $0.415 per share. The ex-dividend date was Thursday, June 29th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 4.22%. Domtar Corporation’s payout ratio is 72.17%.
In related news, SVP Zygmunt Jablonski sold 3,134 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $39.53, for a total transaction of $123,887.02. Following the sale, the senior vice president now directly owns 19,604 shares in the company, valued at $774,946.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Dennis Garcia sold 15,628 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $38.80, for a total transaction of $606,366.40. Following the sale, the insider now owns 3,290 shares in the company, valued at $127,652. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,269 shares of company stock worth $1,027,531. 1.04% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. LS Investment Advisors LLC increased its position in Domtar Corporation by 20.2% in the second quarter. LS Investment Advisors LLC now owns 5,143 shares of the basic materials company’s stock worth $198,000 after buying an additional 866 shares during the period. Mckinley Capital Management LLC Delaware increased its position in Domtar Corporation by 1.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 5,467 shares of the basic materials company’s stock worth $200,000 after buying an additional 100 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Domtar Corporation during the second quarter worth $218,000. Parkwood LLC bought a new position in Domtar Corporation during the first quarter worth $220,000. Finally, Nine Chapters Capital Management LLC bought a new position in Domtar Corporation during the first quarter worth $267,000. Institutional investors and hedge funds own 85.37% of the company’s stock.
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Domtar Corporation Company Profile
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 segments include Pulp and Paper and Personal Care. The Pulp and Paper segment consists of the design, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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