Truist Financial Has Lowered Expectations for Sylvamo (NYSE:SLVM) Stock Price

Key Points

• Truist Financial cut Sylvamo’s price target from $49 to $40 while maintaining a “buy” rating, implying approximately 28% upside from the stock’s $31.24 price.
• Analyst sentiment is mixed: Sylvamo has a consensus “hold” rating and an average price target of $44.50, with ratings split among buys, holds, and sells.
• Sylvamo’s latest quarter slightly exceeded EPS expectations at $0.03, although revenue of $806 million fell short of forecasts and earnings declined from $0.37 a year earlier.

Sylvamo (NYSE:SLVM - Get Free Report) had its price objective cut by analysts at Truist Financial from $49.00 to $40.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target points to a potential upside of 28.02% from the stock's current price.

SLVM has been the topic of a number of other reports. Zacks Research lowered shares of Sylvamo from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Bank of America reiterated a "neutral" rating and set a $45.00 price objective on shares of Sylvamo in a research note on Tuesday, July 14th. Weiss Ratings reissued a "sell (d+)" rating on shares of Sylvamo in a report on Friday, August 7th. Wells Fargo & Company initiated coverage on Sylvamo in a research note on Wednesday, September 16th. They issued an "overweight" rating and a $47.00 price target on the stock. Finally, Wall Street Zen raised Sylvamo from a "sell" rating to a "hold" rating in a research note on Sunday, August 2nd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Sylvamo currently has a consensus rating of "Hold" and a consensus price target of $44.50.

Sylvamo Stock Performance

NYSE SLVM traded down $1.41 during mid-day trading on Monday, reaching $31.24. 141,868 shares of the stock were exchanged, compared to its average volume of 333,332. The company has a market capitalization of $1.24 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.17 and a beta of 0.87. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 1.47. The business's 50 day moving average is $36.11 and its 200-day moving average is $38.60. Sylvamo has a 1 year low of $30.40 and a 1 year high of $56.80.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%. The firm had revenue of $806.00 million for the quarter, compared to analysts' expectations of $811.25 million. During the same period last year, the firm earned $0.37 EPS. The company's quarterly revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that Sylvamo will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Sylvamo

Several institutional investors have recently bought and sold shares of SLVM. State Street Corp lifted its position in shares of Sylvamo by 5.2% during the 2nd quarter. State Street Corp now owns 1,389,749 shares of the company's stock worth $52,533,000 after buying an additional 69,299 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Sylvamo by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company's stock valued at $57,547,000 after buying an additional 72,177 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Sylvamo by 15.8% during the second quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company's stock worth $19,132,000 after acquiring an additional 69,195 shares during the period. Rokos Capital Management LLP acquired a new stake in shares of Sylvamo in the 1st quarter valued at approximately $10,802,000. Finally, SG Americas Securities LLC grew its holdings in Sylvamo by 8.3% during the first quarter. SG Americas Securities LLC now owns 242,221 shares of the company's stock worth $10,231,000 after acquiring an additional 18,653 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

About Sylvamo

Sylvamo Corporation NYSE: SLVM is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, copying, office applications, and other commercial and industrial purposes. Its portfolio includes cut-size office paper, offset and publishing papers, and specialty paper products sold under brands such as Hammermill, Springhill, and Williamsburg.

Headquartered in Memphis, Tennessee, Sylvamo serves customers through operations and sales networks in North America, Latin America, and Europe.

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