Sylvamo (NYSE:SLVM) Posts Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Sylvamo (NYSE:SLVM) issued its earnings results on Tuesday. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.26, Briefing.com reports. The business had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.70 earnings per share.

Sylvamo Stock Performance

SLVM stock traded down $3.59 during trading on Wednesday, reaching $85.22. The company had a trading volume of 141,584 shares, compared to its average volume of 313,107. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.05 and a current ratio of 1.72. The firm has a 50-day simple moving average of $83.47 and a 200-day simple moving average of $75.24. Sylvamo has a twelve month low of $44.94 and a twelve month high of $98.02. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 4.74 and a beta of 1.08.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were paid a $0.45 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.11%. Sylvamo’s dividend payout ratio (DPR) is 27.99%.

Analyst Ratings Changes

A number of research firms have weighed in on SLVM. Royal Bank of Canada increased their target price on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Bank of America upped their target price on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Sidoti began coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective for the company.

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.