Sylvamo Co. (SLVM) to Issue Quarterly Dividend of $0.45 on October 17th

Sylvamo Co. (NYSE:SLVM) announced a quarterly dividend on Friday, September 13th, Wall Street Journal reports. Shareholders of record on Thursday, October 3rd will be paid a dividend of 0.45 per share on Thursday, October 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, October 3rd.

Sylvamo has a dividend payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sylvamo to earn $8.30 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 21.7%.

Sylvamo Trading Up 1.3 %

SLVM opened at $85.85 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. Sylvamo has a one year low of $40.79 and a one year high of $88.42. The company has a market cap of $3.53 billion, a P/E ratio of 18.30, a PEG ratio of 5.01 and a beta of 1.07. The business’s 50-day simple moving average is $76.51 and its 200-day simple moving average is $69.61.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The company had revenue of $933.00 million for the quarter, compared to analysts’ expectations of $937.56 million. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that Sylvamo will post 7.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America lifted their target price on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada lifted their price target on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th.

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.