Sylvamo (NYSE:SLVM) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Sylvamo (NYSE:SLVM) issued its earnings results on Friday. The company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.13), Zacks reports. The business had revenue of $846.00 million for the quarter, compared to the consensus estimate of $840.32 million. Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.Sylvamo’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 EPS.

Sylvamo Stock Up 0.2%

Shares of SLVM traded up $0.07 during midday trading on Friday, reaching $43.15. 932,723 shares of the stock were exchanged, compared to its average volume of 319,990. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.80. Sylvamo has a 52 week low of $37.51 and a 52 week high of $98.02. The company’s 50 day moving average is $43.16 and its two-hundred day moving average is $48.59. The company has a market capitalization of $1.74 billion, a P/E ratio of 8.25 and a beta of 0.96.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, October 3rd. Sylvamo’s dividend payout ratio is currently 34.42%.

Analyst Upgrades and Downgrades

SLVM has been the subject of several recent research reports. Royal Bank Of Canada set a $49.00 price target on shares of Sylvamo and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sylvamo in a research report on Wednesday, October 8th. Finally, Zacks Research raised Sylvamo to a “strong sell” rating in a report on Monday, August 11th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sylvamo presently has an average rating of “Reduce” and an average target price of $56.50.

Hedge Funds Weigh In On Sylvamo

A number of hedge funds and other institutional investors have recently modified their holdings of SLVM. EverSource Wealth Advisors LLC raised its stake in shares of Sylvamo by 185.5% in the second quarter. EverSource Wealth Advisors LLC now owns 982 shares of the company’s stock worth $49,000 after purchasing an additional 638 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Sylvamo by 339.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,526 shares of the company’s stock worth $177,000 after buying an additional 2,724 shares during the period. BNP Paribas Financial Markets raised its position in Sylvamo by 28.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,567 shares of the company’s stock worth $179,000 after buying an additional 794 shares during the last quarter. State of Wyoming lifted its stake in Sylvamo by 55.8% during the 2nd quarter. State of Wyoming now owns 4,607 shares of the company’s stock valued at $231,000 after acquiring an additional 1,650 shares during the period. Finally, Oxford Asset Management LLP purchased a new stake in shares of Sylvamo in the 2nd quarter valued at $241,000. 91.16% of the stock is currently owned by institutional investors.

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.