Sylvamo (NYSE:SLVM – Get Rating) announced its quarterly earnings results on Wednesday. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15, MarketWatch Earnings reports.
SLVM traded up $3.13 on Friday, reaching $47.67. 391,159 shares of the stock were exchanged, compared to its average volume of 474,856. The company’s 50-day moving average price is $37.83 and its 200 day moving average price is $33.54. Sylvamo has a fifty-two week low of $23.10 and a fifty-two week high of $48.74. The company has a debt-to-equity ratio of 7.46, a quick ratio of 1.01 and a current ratio of 1.46.
A number of research analysts have recently issued reports on SLVM shares. Royal Bank of Canada upgraded Sylvamo from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $43.00 in a report on Thursday, April 7th. Bank of America initiated coverage on Sylvamo in a research note on Friday, March 25th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research downgraded Sylvamo from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th.
Several hedge funds have recently modified their holdings of SLVM. Royal Bank of Canada purchased a new position in shares of Sylvamo in the 3rd quarter valued at about $163,000. Citadel Advisors LLC acquired a new position in shares of Sylvamo during the third quarter valued at approximately $968,000. Citigroup Inc. acquired a new position in shares of Sylvamo during the fourth quarter valued at approximately $808,000. JPMorgan Chase & Co. acquired a new position in shares of Sylvamo during the fourth quarter valued at approximately $803,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Sylvamo during the fourth quarter valued at approximately $6,254,000. 82.83% of the stock is owned by institutional investors and hedge funds.
About Sylvamo (Get Rating)
Sylvamo Corporation produces and supplies printing paper in Latin America, Europe, and North America. The company offers uncoated freesheet for paper products, such as cutsize and offset paper; and markets pulp, aseptic, and liquid packaging board, as well as coated unbleached kraft papers. It also produces hardwood pulp, including bleached hardwood kraft and bleached eucalyptus kraft; bleached softwood kraft; and bleached chemi-thermomechanical pulp.
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