Sylvamo (NYSE:SLVM) Reaches New 12-Month Low Following Analyst Downgrade

Sylvamo Corporation (NYSE:SLVM)’s share price reached a new 52-week low during trading on Tuesday after Truist Financial lowered their price target on the stock from $49.00 to $40.00. Truist Financial currently has a buy rating on the stock. Sylvamo traded as low as $30.40 and last traded at $31.2360, with a volume of 306,675 shares. The stock had previously closed at $32.65.

Several other research firms have also recently weighed in on SLVM. Royal Bank Of Canada lowered their price objective on shares of Sylvamo from $49.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, July 17th. Wall Street Zen upgraded Sylvamo from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Wells Fargo & Company started coverage on Sylvamo in a research report on Wednesday, September 16th. They issued an “overweight” rating and a $47.00 target price for the company. Zacks Research cut Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Finally, Bank of America reiterated a “neutral” rating and set a $45.00 price target on shares of Sylvamo in a report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.50.

Institutional Trading of Sylvamo

Institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in Sylvamo by 3.2% in the second quarter. Van ECK Associates Corp now owns 13,428 shares of the company’s stock valued at $508,000 after acquiring an additional 411 shares during the period. Farther Finance Advisors LLC lifted its stake in Sylvamo by 68.8% during the third quarter. Farther Finance Advisors LLC now owns 1,094 shares of the company’s stock worth $36,000 after purchasing an additional 446 shares during the period. Exchange Traded Concepts LLC lifted its stake in Sylvamo by 8.4% during the second quarter. Exchange Traded Concepts LLC now owns 6,697 shares of the company’s stock worth $253,000 after purchasing an additional 519 shares during the period. Royal Bank of Canada lifted its stake in Sylvamo by 11.4% during the first quarter. Royal Bank of Canada now owns 6,348 shares of the company’s stock worth $268,000 after purchasing an additional 648 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in Sylvamo by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 17,932 shares of the company’s stock valued at $757,000 after purchasing an additional 666 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Stock Up 3.3%

The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $35.82 and a two-hundred day simple moving average of $38.48. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.12 and a beta of 0.87.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, August 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%. The company had revenue of $806.00 million for the quarter, compared to analyst estimates of $811.25 million. During the same period in the prior year, the company posted $0.37 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Equities analysts expect that Sylvamo Corporation will post 1.53 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.80 annualized dividend and a yield of 5.6%. Sylvamo’s payout ratio is currently 95.74%.

About Sylvamo

Sylvamo Corporation (NYSE: SLVM) is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, copying, office applications, and other commercial and industrial purposes. Its portfolio includes cut-size office paper, offset and publishing papers, and specialty paper products sold under brands such as Hammermill, Springhill, and Williamsburg.

Headquartered in Memphis, Tennessee, Sylvamo serves customers through operations and sales networks in North America, Latin America, and Europe.