Sylvamo Co. to Issue Quarterly Dividend of $0.45 (NYSE:SLVM)

Sylvamo Co. (NYSE:SLVM) declared a quarterly dividend on Monday, September 16th, Wall Street Journal reports. Investors of record on Thursday, October 3rd will be paid a dividend of 0.45 per share on Thursday, October 17th. This represents a $1.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, October 3rd.

Sylvamo has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sylvamo to earn $8.30 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 21.7%.

Sylvamo Price Performance

NYSE:SLVM traded up $1.09 on Monday, reaching $78.01. 98,031 shares of the company’s stock traded hands, compared to its average volume of 308,328. Sylvamo has a 12 month low of $40.79 and a 12 month high of $81.06. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08. The stock has a 50-day simple moving average of $73.49 and a 200-day simple moving average of $67.97. The firm has a market cap of $3.20 billion, a PE ratio of 16.40, a P/E/G ratio of 4.41 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.40. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The company had revenue of $933.00 million for the quarter, compared to analyst estimates of $937.56 million. During the same quarter in the prior year, the firm posted $1.14 EPS. Sylvamo’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that Sylvamo will post 7.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America reiterated a “neutral” rating and set a $82.00 price target (up from $71.00) on shares of Sylvamo in a report on Monday, August 12th. Royal Bank of Canada raised their price target on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th.

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.