Sylvamo (NYSE:SLVM) Releases Earnings Results

Sylvamo (NYSE:SLVM) announced its earnings results on Tuesday. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.26, Briefing.com reports. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The business had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. During the same period in the previous year, the company earned $1.70 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year.

Sylvamo Stock Down 4.6 %

Sylvamo stock traded down $4.12 during midday trading on Wednesday, hitting $84.69. The stock had a trading volume of 152,963 shares, compared to its average volume of 313,163. The stock has a market cap of $3.47 billion, a P/E ratio of 13.26, a P/E/G ratio of 4.74 and a beta of 1.08. The business has a fifty day moving average price of $83.47 and a 200 day moving average price of $75.24. Sylvamo has a 12 month low of $44.94 and a 12 month high of $98.02. The company has a current ratio of 1.72, a quick ratio of 1.05 and a debt-to-equity ratio of 0.94.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo’s dividend payout ratio is currently 27.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLVM. Sidoti began coverage on Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price on the stock. Royal Bank of Canada lifted their target price on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th. Finally, Bank of America lifted their target price on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd.

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.