Domtar Corp. (UFS) Coverage Initiated at Goldman Sachs Group Inc.
Research analysts at Goldman Sachs Group Inc. initiated coverage on shares of Domtar Corp. (NYSE:UFS) in a report issued on Thursday. The brokerage set a “neutral” rating and a $40.00 price target on the stock. Goldman Sachs Group Inc.’s price objective would suggest a potential upside of 9.11% from the stock’s current price.
Several other brokerages have also commented on UFS. DA Davidson lowered shares of Domtar Corp. from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $42.00 to $30.00 in a research note on Friday, July 8th. Zacks Investment Research lowered shares of Domtar Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 12th. TheStreet upgraded shares of Domtar Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Citigroup Inc. increased their price target on shares of Domtar Corp. from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd. Finally, Macquarie dropped their price target on shares of Domtar Corp. from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, September 15th. Three analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Domtar Corp. has a consensus rating of “Hold” and a consensus price target of $39.71.
Shares of Domtar Corp. (NYSE:UFS) opened at 36.66 on Thursday. The stock has a 50 day moving average of $37.52 and a 200 day moving average of $37.63. Domtar Corp. has a 52-week low of $29.88 and a 52-week high of $42.95. The company has a market cap of $2.29 billion, a P/E ratio of 25.62 and a beta of 1.67.
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Domtar Corp. (NYSE:UFS) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.48. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. Domtar Corp. had a net margin of 1.74% and a return on equity of 6.84%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. On average, equities analysts anticipate that Domtar Corp. will post $2.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Thursday, September 29th. Domtar Corp.’s dividend payout ratio (DPR) is presently 116.08%.
A number of hedge funds have recently modified their holdings of the stock. IFP Advisors Inc increased its stake in shares of Domtar Corp. by 1.0% in the first quarter. IFP Advisors Inc now owns 4,774 shares of the company’s stock worth $193,000 after buying an additional 49 shares during the period. Boston Advisors LLC increased its stake in shares of Domtar Corp. by 0.6% in the second quarter. Boston Advisors LLC now owns 9,425 shares of the company’s stock worth $330,000 after buying an additional 60 shares during the period. State Treasurer State of Michigan increased its stake in shares of Domtar Corp. by 0.4% in the second quarter. State Treasurer State of Michigan now owns 25,100 shares of the company’s stock worth $879,000 after buying an additional 100 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Domtar Corp. by 1.5% in the second quarter. PNC Financial Services Group Inc. now owns 9,588 shares of the company’s stock worth $336,000 after buying an additional 141 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Domtar Corp. by 4.4% in the second quarter. Ameritas Investment Partners Inc. now owns 9,896 shares of the company’s stock worth $346,000 after buying an additional 418 shares during the period. 84.60% of the stock is owned by hedge funds and other institutional investors.
Domtar Corp. Company Profile
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and absorbent hygiene products. The Company operates through two business segments: Pulp and Paper, and Personal Care. Its Pulp and Paper segment is engaged in the designing, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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