Domtar Corp (NYSE:UFS) (TSE:UFS) – Equities researchers at DA Davidson raised their Q1 2018 EPS estimates for Domtar in a research note issued to investors on Thursday. DA Davidson analyst S. Chercover now expects that the basic materials company will earn $0.54 per share for the quarter, up from their previous estimate of $0.42. DA Davidson has a “Underperform” rating and a $37.00 price objective on the stock. DA Davidson also issued estimates for Domtar’s Q2 2018 earnings at $0.60 EPS, Q3 2018 earnings at $0.80 EPS, FY2018 earnings at $2.69 EPS and FY2019 earnings at $2.72 EPS.
Several other equities research analysts have also recently weighed in on UFS. Zacks Investment Research cut Domtar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. Stephens started coverage on Domtar in a report on Tuesday, October 24th. They issued an “equal weight” rating and a $43.00 price objective for the company. KeyCorp set a $33.00 price objective on Domtar and gave the stock a “sell” rating in a report on Friday, October 27th. Scotiabank set a $41.00 price objective on Domtar and gave the stock a “sector perform” rating in a report on Monday, October 30th. Finally, National Bank Financial increased their price objective on Domtar from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $44.33.
Domtar (NYSE:UFS) (TSE:UFS) last released its quarterly earnings data on Thursday, February 8th. The basic materials company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). Domtar had a positive return on equity of 6.00% and a negative net margin of 4.11%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business posted $0.75 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in Domtar by 1.4% during the 4th quarter. BlackRock Inc. now owns 9,586,518 shares of the basic materials company’s stock valued at $474,726,000 after buying an additional 129,636 shares in the last quarter. Vanguard Group Inc. increased its position in Domtar by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 5,342,007 shares of the basic materials company’s stock valued at $205,240,000 after buying an additional 53,417 shares in the last quarter. State Street Corp increased its position in Domtar by 0.5% during the 2nd quarter. State Street Corp now owns 1,772,703 shares of the basic materials company’s stock valued at $68,104,000 after buying an additional 8,827 shares in the last quarter. Bank of New York Mellon Corp increased its position in Domtar by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,097,537 shares of the basic materials company’s stock valued at $47,622,000 after buying an additional 5,336 shares in the last quarter. Finally, Pictet Asset Management Ltd. bought a new position in Domtar during the 3rd quarter valued at approximately $20,535,000. 90.61% of the stock is owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be given a $0.435 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.74 annualized dividend and a dividend yield of 4.00%. This is a positive change from Domtar’s previous quarterly dividend of $0.42. Domtar’s dividend payout ratio is currently -49.11%.
Domtar 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 segments include Pulp and Paper and Personal Care. The Pulp and Paper segment consists of the design, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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