Sylvamo (NYSE:SLVM) Upgraded by Bank of America to “Buy” Rating

Bank of America upgraded shares of Sylvamo (NYSE:SLVM) from an underperform rating to a buy rating in a research report released on Monday, Marketbeat Ratings reports. They currently have $59.00 target price on the stock, up from their previous target price of $41.00.

A number of other brokerages have also issued reports on SLVM. Royal Bank Of Canada lifted their price target on shares of Sylvamo from $47.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Sylvamo in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Sylvamo to a “strong sell” rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $54.00.

Sylvamo Stock Up 1.5%

Shares of Sylvamo stock opened at $45.54 on Monday. Sylvamo has a 1-year low of $37.51 and a 1-year high of $96.42. The company has a market capitalization of $1.80 billion, a PE ratio of 10.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.85. The business has a 50-day moving average of $43.24 and a 200-day moving average of $47.83.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Friday, November 7th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.13). Sylvamo had a net margin of 5.25% and a return on equity of 19.72%. The business had revenue of $846.00 million during the quarter, compared to analysts’ expectations of $840.32 million. During the same period in the prior year, the company posted $2.44 EPS. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. As a group, equities analysts forecast that Sylvamo will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 4.0%. Sylvamo’s payout ratio is 41.19%.

Institutional Investors Weigh In On Sylvamo

Several institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in Sylvamo by 328.3% in the third quarter. Versant Capital Management Inc now owns 681 shares of the company’s stock valued at $30,000 after acquiring an additional 522 shares during the period. EverSource Wealth Advisors LLC boosted its position in Sylvamo by 185.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 982 shares of the company’s stock valued at $49,000 after purchasing an additional 638 shares during the period. Hantz Financial Services Inc. grew its stake in Sylvamo by 1,959.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,174 shares of the company’s stock worth $52,000 after buying an additional 1,117 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Sylvamo in the first quarter worth $61,000. Finally, Blue Trust Inc. increased its position in Sylvamo by 54.0% in the second quarter. Blue Trust Inc. now owns 1,209 shares of the company’s stock worth $61,000 after buying an additional 424 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

About Sylvamo

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.