Sylvamo (NYSE:SLVM) Price Target Cut to $46.00 by Analysts at Royal Bank Of Canada

Sylvamo (NYSE:SLVM) had its price objective lowered by Royal Bank Of Canada from $49.00 to $46.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

SLVM has been the subject of a number of other research reports. Zacks Research lowered shares of Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Truist Financial lowered their price target on Sylvamo from $54.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday. Weiss Ratings cut Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, Bank of America reaffirmed a “neutral” rating and set a $45.00 target price on shares of Sylvamo in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $47.33.

Sylvamo Trading Down 3.1%

SLVM opened at $38.34 on Friday. The business’s 50-day simple moving average is $38.92 and its 200-day simple moving average is $43.40. The company has a market cap of $1.52 billion, a P/E ratio of 15.15, a PEG ratio of 0.88 and a beta of 0.87. Sylvamo has a one year low of $35.53 and a one year high of $56.80. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 1.45.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.28). The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $740.85 million. Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. Sylvamo’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. As a group, equities research analysts expect that Sylvamo will post 2.2 EPS for the current fiscal year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 7th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 4.7%. Sylvamo’s dividend payout ratio (DPR) is currently 71.15%.

Insider Buying and Selling at Sylvamo

In other news, Director Lizanne M. Bruce sold 1,230 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $41.70, for a total transaction of $51,291.00. Following the completion of the sale, the director owned 14,475 shares in the company, valued at approximately $603,607.50. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in shares of Sylvamo by 49.4% in the 1st quarter. Royal Bank of Canada now owns 22,853 shares of the company’s stock valued at $1,532,000 after buying an additional 7,556 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sylvamo by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,690 shares of the company’s stock worth $1,388,000 after purchasing an additional 893 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Sylvamo by 16.9% in the 1st quarter. Empowered Funds LLC now owns 17,730 shares of the company’s stock worth $1,189,000 after buying an additional 2,557 shares during the last quarter. Intech Investment Management LLC increased its position in Sylvamo by 25.9% in the first quarter. Intech Investment Management LLC now owns 18,140 shares of the company’s stock worth $1,217,000 after buying an additional 3,727 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Sylvamo by 23.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,621 shares of the company’s stock valued at $1,234,000 after buying an additional 4,613 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

Sylvamo Company Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.