Sylvamo (NYSE:SLVM) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Sylvamo (NYSE:SLVMGet Rating) released its quarterly earnings results on Wednesday. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15, MarketWatch Earnings reports.

SLVM opened at $47.67 on Friday. Sylvamo has a twelve month low of $23.10 and a twelve month high of $48.74. The firm’s 50-day moving average price is $37.83 and its 200 day moving average price is $33.54. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.01 and a current ratio of 1.71.

Several analysts have recently issued reports on SLVM shares. Royal Bank of Canada upgraded shares of Sylvamo from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $43.00 in a research report on Thursday, April 7th. Bank of America began coverage on Sylvamo in a research note on Friday, March 25th. They set a “neutral” rating for the company. Finally, Zacks Investment Research downgraded Sylvamo from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th.

In other news, major shareholder Paper Co /New/ International sold 4,132,000 shares of the company’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $34.75, for a total value of $143,587,000.00. Following the completion of the sale, the insider now directly owns 4,614,358 shares in the company, valued at $160,348,940.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new stake in shares of Sylvamo in the fourth quarter valued at about $651,000. Guggenheim Capital LLC purchased a new stake in shares of Sylvamo in the 4th quarter valued at approximately $642,000. Stifel Financial Corp acquired a new stake in shares of Sylvamo during the 4th quarter worth approximately $607,000. LPL Financial LLC purchased a new stake in shares of Sylvamo during the 4th quarter valued at approximately $548,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Sylvamo in the fourth quarter valued at approximately $535,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

About Sylvamo (Get Rating)

Sylvamo Corporation produces and supplies printing paper in Latin America, Europe, and North America. The company offers uncoated freesheet for paper products, such as cutsize and offset paper; and markets pulp, aseptic, and liquid packaging board, as well as coated unbleached kraft papers. It also produces hardwood pulp, including bleached hardwood kraft and bleached eucalyptus kraft; bleached softwood kraft; and bleached chemi-thermomechanical pulp.

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