Sylvamo (NYSE:SLVM) Given New $45.00 Price Target at Royal Bank of Canada

Sylvamo (NYSE:SLVM) had its price objective lifted by Royal Bank of Canada from $44.00 to $45.00 in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Sylvamo Stock Up 3.4 %

Shares of Sylvamo stock opened at $47.27 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.01 and a current ratio of 1.76. The business’s 50 day simple moving average is $43.00 and its 200 day simple moving average is $42.85. The firm has a market cap of $1.98 billion, a PE ratio of 6.86, a P/E/G ratio of 0.28 and a beta of 1.05. Sylvamo has a 52-week low of $37.59 and a 52-week high of $57.38.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Thursday, November 9th. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.29 by $0.41. Sylvamo had a return on equity of 39.92% and a net margin of 8.05%. The company had revenue of $897.00 million during the quarter, compared to the consensus estimate of $921.35 million. During the same quarter in the prior year, the firm posted $2.51 EPS. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, analysts predict that Sylvamo will post 5.9 earnings per share for the current fiscal year.

Sylvamo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Monday, October 2nd. This is a boost from Sylvamo’s previous quarterly dividend of $0.25. Sylvamo’s payout ratio is currently 17.42%.

Institutional Investors Weigh In On Sylvamo

A number of institutional investors have recently made changes to their positions in SLVM. Federated Hermes Inc. bought a new stake in shares of Sylvamo during the first quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in shares of Sylvamo in the third quarter valued at approximately $27,000. Tyler Stone Wealth Management bought a new stake in shares of Sylvamo in the second quarter valued at approximately $31,000. Quarry LP boosted its stake in shares of Sylvamo by 80.0% in the second quarter. Quarry LP now owns 830 shares of the company’s stock valued at $34,000 after buying an additional 369 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Sylvamo by 389.9% in the first quarter. Tower Research Capital LLC TRC now owns 975 shares of the company’s stock valued at $45,000 after buying an additional 776 shares during the period. Institutional investors own 89.05% of the company’s stock.

About Sylvamo

Sylvamo Corporation produces and markets uncoated freesheet, 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 high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.