Sylvamo (NYSE:SLVM) Price Target Raised to $88.00 at Bank of America

Sylvamo (NYSE:SLVM) had its price target lifted by Bank of America from $82.00 to $88.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, Royal Bank of Canada lifted their target price on Sylvamo from $63.00 to $71.00 and gave the stock a sector perform rating in a research report on Monday, August 12th.

Sylvamo Stock Performance

Sylvamo stock opened at $82.54 on Monday. The firm has a market capitalization of $3.38 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 4.89 and a beta of 1.07. Sylvamo has a one year low of $40.79 and a one year high of $88.42. The stock’s 50 day moving average price is $75.72 and its 200 day moving average price is $69.09. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68.

Sylvamo (NYSE:SLVM) last announced its earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.40. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The business had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. During the same period in the prior year, the firm earned $1.14 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that Sylvamo will post 7.4 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.18%. Sylvamo’s dividend payout ratio (DPR) is 38.38%.

Institutional Investors Weigh In On Sylvamo

Several hedge funds and other institutional investors have recently modified their holdings of SLVM. CWM LLC grew its stake in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after purchasing an additional 157 shares in the last quarter. Independence Bank of Kentucky increased its holdings in shares of Sylvamo by 6,733.3% in the 2nd quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after acquiring an additional 404 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Sylvamo by 149.3% during the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after acquiring an additional 303 shares in the last quarter. Lazard Asset Management LLC bought a new position in Sylvamo during the first quarter worth $45,000. Finally, Blue Trust Inc. boosted its holdings in Sylvamo by 534.1% in the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $56,000 after purchasing an additional 689 shares during the period. Institutional investors own 91.16% of the company’s stock.

Sylvamo Company Profile

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.