Royal Bank Of Canada Cuts Sylvamo (NYSE:SLVM) Price Target to $46.00

Sylvamo (NYSE:SLVM) had its target price lowered by Royal Bank Of Canada from $49.00 to $46.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other equities research analysts have also issued reports on SLVM. Bank of America reiterated a “neutral” rating and issued a $45.00 price target on shares of Sylvamo in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Truist Financial decreased their price objective on Sylvamo from $54.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Finally, Zacks Research downgraded Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $47.33.

Sylvamo Stock Down 0.0%

Shares of Sylvamo stock opened at $38.34 on Friday. The firm has a market cap of $1.52 billion, a PE ratio of 15.15, a P/E/G ratio of 0.85 and a beta of 0.87. The business’s 50 day simple moving average is $38.92 and its 200 day simple moving average is $43.36. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 1.45. Sylvamo has a 52-week low of $35.53 and a 52-week high of $56.80.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.28). The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $740.85 million. Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.The company’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. On average, analysts predict that Sylvamo will post 2.2 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Tuesday, July 7th. Sylvamo’s payout ratio is currently 71.15%.

Insider Activity at Sylvamo

In other news, Director Lizanne M. Bruce sold 1,230 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $41.70, for a total transaction of $51,291.00. Following the transaction, the director owned 14,475 shares in the company, valued at approximately $603,607.50. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.81% of the company’s stock.

Institutional Trading of Sylvamo

Several institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in Sylvamo by 605.9% during the 4th quarter. Millennium Management LLC now owns 2,233,209 shares of the company’s stock worth $107,529,000 after buying an additional 1,916,829 shares during the period. Jain Global LLC acquired a new stake in shares of Sylvamo during the fourth quarter worth $39,072,000. William Blair Investment Management LLC bought a new stake in shares of Sylvamo in the fourth quarter valued at about $33,777,000. Nomura Holdings Inc. boosted its position in shares of Sylvamo by 34.1% in the third quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company’s stock valued at $95,073,000 after acquiring an additional 546,336 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Sylvamo in the second quarter valued at about $15,030,000. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Company Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.