Sylvamo (NYSE:SLVM) Sets New 52-Week Low - Here's What Happened

Key Points

• Sylvamo Corporation's stock has reached a new 52-week low at $47.78, down from its previous close of $48.50.
• Analyst ratings have been downgraded, with Royal Bank of Canada reducing their price target from $70.00 to $61.00 and Bank of America lowering theirs from $67.00 to $64.00.
• The company's quarterly earnings report showed earnings of $0.68 per share, missing estimates by $0.02, and marked a 9.3% decline in revenue year-over-year.

Sylvamo Corporation (NYSE:SLVM - Get Free Report)'s stock price reached a new 52-week low on Tuesday . The company traded as low as $47.78 and last traded at $47.84, with a volume of 48123 shares. The stock had previously closed at $48.50.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. 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 report on Wednesday, July 9th. Royal Bank Of Canada reduced their target price on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th.

Sylvamo Trading Down 2.3%

The company's 50 day moving average price is $51.37 and its 200 day moving average price is $61.43. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.64 and a quick ratio of 1.04. The firm has a market cap of $1.83 billion, a PE ratio of 6.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.01.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The business had revenue of $821.00 million during the quarter, compared to analysts' expectations of $819.61 million. During the same period in the previous year, the business posted $1.07 EPS. The company's revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, analysts forecast that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Tuesday, July 8th were paid a $0.45 dividend. The ex-dividend date was Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a yield of 4.0%. Sylvamo's payout ratio is currently 26.32%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its position in shares of Sylvamo by 26.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 19,539 shares of the company's stock worth $979,000 after buying an additional 4,134 shares during the last quarter. AlphaQuest LLC lifted its position in shares of Sylvamo by 556.5% during the 2nd quarter. AlphaQuest LLC now owns 18,146 shares of the company's stock worth $909,000 after buying an additional 15,382 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Sylvamo by 203.8% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 9,078 shares of the company's stock worth $455,000 after buying an additional 6,090 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Sylvamo during the 2nd quarter worth approximately $581,000. Finally, Denali Advisors LLC lifted its position in shares of Sylvamo by 102.3% during the 2nd quarter. Denali Advisors LLC now owns 16,226 shares of the company's stock worth $813,000 after buying an additional 8,207 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company's stock.

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.