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

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

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

Sylvamo Stock Down 2.3 %

Sylvamo stock opened at $82.54 on Monday. The firm has a market capitalization of $3.38 billion, a P/E ratio of 17.60, a P/E/G ratio of 4.89 and a beta of 1.07. The company has a 50-day simple moving average of $75.72 and a 200-day simple moving average of $69.09. Sylvamo has a one year low of $40.79 and a one year high of $88.42. 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 quarterly earnings results on Friday, August 9th. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.58 by $0.40. The company had revenue of $933.00 million for the quarter, compared to analyst estimates of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. Sylvamo’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 earnings per share. As a group, equities analysts expect that Sylvamo will post 7.4 earnings per share for the current year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors 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 dividend yield of 2.18%. Sylvamo’s dividend payout ratio is presently 38.38%.

Institutional Investors Weigh In On Sylvamo

A number of institutional investors have recently added to or reduced their stakes in SLVM. Vanguard Group Inc. raised its stake in shares of Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after buying an additional 138,655 shares in the last quarter. Simplicity Wealth LLC raised its position in Sylvamo by 105.7% in the second quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock worth $974,000 after acquiring an additional 7,291 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Sylvamo during the 1st quarter valued at about $586,000. Jupiter Asset Management Ltd. grew its stake in shares of Sylvamo by 30.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 123,993 shares of the company’s stock worth $7,655,000 after purchasing an additional 28,763 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Sylvamo by 15.2% in the 4th quarter. Allianz Asset Management GmbH now owns 159,189 shares of the company’s stock worth $7,818,000 after purchasing an additional 21,026 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

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.