Sylvamo (NYSE:SLVM – Get Free Report) had its price target lifted by equities researchers at Bank of America from $82.00 to $88.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 4.76% from the company’s previous close.
Separately, Royal Bank of Canada upped their price objective on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th.
Check Out Our Latest Stock Analysis on Sylvamo
Sylvamo Price Performance
Sylvamo (NYSE:SLVM – Get Free Report) last issued its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.40. The firm had revenue of $933.00 million during the quarter, compared to analyst estimates of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 earnings per share. As a group, analysts predict that Sylvamo will post 7.4 earnings per share for the current year.
Institutional Investors Weigh In On Sylvamo
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Sylvamo by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after acquiring an additional 138,655 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Sylvamo by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock valued at $90,276,000 after purchasing an additional 62,157 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Sylvamo during the second quarter valued at $62,101,000. American Century Companies Inc. raised its holdings in shares of Sylvamo by 53.2% in the second quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after acquiring an additional 230,291 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Sylvamo by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock worth $33,176,000 after acquiring an additional 1,779 shares in the last quarter. 91.16% of the stock is owned by hedge funds and other 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.
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