Royal Bank of Canada Issues Pessimistic Forecast for Sylvamo (NYSE:SLVM) Stock Price

Sylvamo (NYSE:SLVM) had its price objective lowered by investment analysts at Royal Bank of Canada from $83.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 11.23% from the stock’s current price.

Separately, Bank of America reaffirmed an “underperform” rating and issued a $96.00 price objective on shares of Sylvamo in a research note on Wednesday, December 11th.

Sylvamo Stock Performance

Shares of Sylvamo stock opened at $71.93 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. The firm has a market cap of $2.95 billion, a P/E ratio of 11.19, a P/E/G ratio of 2.22 and a beta of 1.12. The firm has a 50 day simple moving average of $80.39 and a 200 day simple moving average of $81.46. Sylvamo has a fifty-two week low of $50.00 and a fifty-two week high of $98.02.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. Sell-side analysts predict that Sylvamo will post 7.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sylvamo

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its position in shares of Sylvamo by 150.9% during the third quarter. Tidal Investments LLC now owns 22,469 shares of the company’s stock worth $1,929,000 after purchasing an additional 13,512 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Sylvamo by 473.5% during the third quarter. HighTower Advisors LLC now owns 18,467 shares of the company’s stock worth $1,587,000 after purchasing an additional 15,247 shares in the last quarter. Citigroup Inc. boosted its position in shares of Sylvamo by 67.0% during the third quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock worth $3,994,000 after purchasing an additional 18,657 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Sylvamo by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after purchasing an additional 201 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Sylvamo by 6,693.0% during the third quarter. International Assets Investment Management LLC now owns 69,085 shares of the company’s stock worth $5,931,000 after purchasing an additional 68,068 shares in the last quarter. 91.16% of the stock is owned by institutional investors.

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.