Sylvamo (NYSE:SLVM) Issues Quarterly Earnings Results

Key Points

• Sylvamo reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.47 and showing a 14.9% decline in revenue compared to the previous year.
• The company's stock fell 15.3% to $40.50 after the earnings report, with a market cap of $1.65 billion.
• Sylvamo announced a quarterly dividend of $0.45 per share, resulting in an annualized payout of $1.80 and a dividend yield of 4.4%.

Sylvamo (NYSE:SLVM - Get Free Report) issued its quarterly earnings results on Friday. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.10), Zacks reports. Sylvamo had a return on equity of 32.60% and a net margin of 7.71%. The business had revenue of $794.00 million for the quarter, compared to analysts' expectations of $826.60 million. During the same quarter in the prior year, the business earned $1.98 EPS. The company's revenue was down 14.9% compared to the same quarter last year.

Sylvamo Trading Down 15.3%

SLVM traded down $7.34 on Friday, reaching $40.50. 1,240,947 shares of the company traded hands, compared to its average volume of 347,309. The company has a market cap of $1.65 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The company has a quick ratio of 1.04, a current ratio of 1.64 and a debt-to-equity ratio of 0.87. Sylvamo has a one year low of $37.51 and a one year high of $98.02. The firm has a fifty day simple moving average of $50.57 and a two-hundred day simple moving average of $60.32.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, July 8th. Sylvamo's payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

SLVM has been the subject of a number of analyst reports. Bank of America reduced their price objective on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research note on Wednesday, July 9th. Royal Bank Of Canada dropped their price objective on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Sylvamo by 49.4% in the 1st quarter. Royal Bank of Canada now owns 22,853 shares of the company's stock worth $1,532,000 after buying an additional 7,556 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Sylvamo by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,690 shares of the company's stock worth $1,388,000 after acquiring an additional 893 shares during the period. Empowered Funds LLC grew its holdings in Sylvamo by 16.9% during the 1st quarter. Empowered Funds LLC now owns 17,730 shares of the company's stock worth $1,189,000 after acquiring an additional 2,557 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in Sylvamo by 25.9% during the 1st quarter. Intech Investment Management LLC now owns 18,140 shares of the company's stock valued at $1,217,000 after purchasing an additional 3,727 shares during the period. Institutional investors own 91.16% of the company's stock.

Sylvamo Company Profile

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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