Royal Bank of Canada Cuts Sylvamo (NYSE:SLVM) Price Target to $80.00

Sylvamo (NYSE:SLVM) had its price target lowered by Royal Bank of Canada from $83.00 to $80.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Separately, Bank of America restated an “underperform” rating and set a $96.00 target price on shares of Sylvamo in a report on Wednesday, December 11th.

Sylvamo Stock Up 0.2 %

Shares of SLVM stock opened at $71.93 on Thursday. The firm has a fifty day moving average of $80.01 and a 200-day moving average of $81.44. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. Sylvamo has a 12-month low of $50.00 and a 12-month high of $98.02. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 2.22 and a beta of 1.12.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.10. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. As a group, equities research analysts predict that Sylvamo will post 7.15 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Monday, January 6th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, January 6th. Sylvamo’s payout ratio is 27.99%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC boosted its holdings in Sylvamo by 116.6% during the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after purchasing an additional 239 shares during the last quarter. GAMMA Investing LLC lifted its stake in Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after acquiring an additional 171 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Sylvamo by 182.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $49,000 after acquiring an additional 403 shares during the last quarter. Fifth Third Bancorp lifted its stake in Sylvamo by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock valued at $58,000 after acquiring an additional 214 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Sylvamo by 464.5% in the fourth quarter. Covestor Ltd now owns 779 shares of the company’s stock valued at $62,000 after acquiring an additional 641 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

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.