Domtar Corp Coverage Initiated at BMO Capital Markets (UFS)
BMO Capital Markets began coverage on shares of Domtar Corp (NYSE:UFS) in a research note issued on Wednesday. The firm set an “outperform” rating and a $42.00 price target on the stock. BMO Capital Markets’ price target suggests a potential upside of 11.46% from the stock’s previous close.
Domtar Corp (NYSE:UFS) traded down 0.45% during mid-day trading on Wednesday, hitting $37.68. 860,343 shares of the company’s stock traded hands. Domtar Corp has a 52 week low of $32.505 and a 52 week high of $57.875. The stock has a 50-day moving average of $37.55 and a 200-day moving average of $45.79. The company has a market cap of $2.449 billion and a price-to-earnings ratio of 14.45.
Domtar Corp (NYSE:UFS) last released its earnings data on Thursday, July 24th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.25. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts expect that Domtar Corp will post $3.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Thursday, October 2nd will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Tuesday, September 30th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James cut their price target on shares of Domtar Corp from $55.00 to $49.00 in a research note on Thursday, August 21st. Separately, analysts at Bank of America upgraded shares of Domtar Corp from an “underperform” rating to a “buy” rating in a research note on Tuesday, August 19th. They now have a $45.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Domtar Corp in a research note on Wednesday, July 30th. They now have a $40.00 price target on the stock, down previously from $43.00. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $49.14.
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and adult incontinence products.
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