BofA Securities upgraded Sylvamo from Neutral to Buy and set a new price target of $61.00 from $52.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/15/2024 | $100.00 | Buy | Sidoti |
| 8/12/2024 | $71.00 → $82.00 | Buy → Neutral | BofA Securities |
| 8/10/2023 | $55.00 → $44.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 7/10/2023 | $52.00 → $61.00 | Neutral → Buy | BofA Securities |
| 12/15/2022 | $56.00 → $58.00 | Buy → Neutral | BofA Securities |
| 10/13/2022 | $56.00 | Buy | BofA Securities |
| 4/7/2022 | $40.00 → $43.00 | Sector Perform → Outperform | RBC Capital Mkts |
| 3/25/2022 | $38.00 → $39.00 | Neutral | BofA Securities |
Sylvamo (NYSE:SLVM), the world's paper company, is releasing third quarter 2024 earnings. Financial Highlights – Third Quarter vs. Second Quarter Net income of $95 million ($2.27 per diluted share) vs. $83 million ($1.98 per diluted share) Adjusted operating earnings1 of $102 million ($2.44 per diluted share) vs. $83 million ($1.98 per diluted share) Adjusted EBITDA2 of $193 million (20% margin) vs. $164 million (18% margin) Cash provided by operating activities of $163 million vs. $115 million Free cash flow3 of $119 million vs. $62 million Commercial and Operational Highlights – Third Quarter vs. Second Quarter Price and mix decreased by $4 million due to mix in Nor
MEMPHIS, Tenn., Oct. 31, 2024 /PRNewswire/ -- International Paper (NYSE: IP) today announced the decision to review strategic options for its global cellulose fibers (GCF) business. The decision to explore alternatives for the GCF business is consistent with the Company's strategy to focus on sustainable packaging solutions. IP's GCF business creates safe, high-quality absorbent pulp for a wide range of applications like feminine care, incontinence and other personal care products that promote health and wellness. In addition, its specialty pulp serves as a sustainable raw mat
Sylvamo (NYSE:SLVM), the world's paper company, and International Paper (NYSE:IP) are mutually terminating a supply agreement for uncoated freesheet, bristols and specialty papers at the Georgetown, South Carolina, mill. The agreement will terminate Dec. 31, 2024. Sylvamo is successfully transitioning many paper grades from Georgetown to its Ticonderoga, New York, and Eastover, South Carolina, mills to continue supplying customers. International Paper has announced plans to discontinue operations at the Georgetown mill. "We have been preparing for this possibility since our 2021 spinoff from International Paper. We will support our customers through this transition and will retain the mos
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RBC Capital analyst Matthew McKellar maintains Sylvamo (NYSE:SLVM) with a Sector Perform and raises the price target from $56 to $63.
A worse-than-expected University of Michigan’s May consumer report halted stock gains on Friday, sparking worries about a potential decline in consumer health amid perceived rising price pressures. The report disclosed that both near-term and long-term inflation expectations have surged beyond projections this month, causing the broader consumer gauge to hit its lowest levels in six months. “If spending slows down and inflation increases, we'll get the opposite of the Goldilocks scenario that many were hoping for, and the Fed will be in an especially difficult position of choosing between accommodating a slowing economy and fighting increasing inflation expectations,” said Chris Zaccar
Sylvamo (NYSE:SLVM), the world's paper company, is releasing third quarter 2024 earnings. Financial Highlights – Third Quarter vs. Second Quarter Net income of $95 million ($2.27 per diluted share) vs. $83 million ($1.98 per diluted share) Adjusted operating earnings1 of $102 million ($2.44 per diluted share) vs. $83 million ($1.98 per diluted share) Adjusted EBITDA2 of $193 million (20% margin) vs. $164 million (18% margin) Cash provided by operating activities of $163 million vs. $115 million Free cash flow3 of $119 million vs. $62 million Commercial and Operational Highlights – Third Quarter vs. Second Quarter Price and mix decreased by $4 million due to mix in Nor
Sylvamo (NYSE:SLVM), the world's paper company, will release third quarter earnings Tuesday, Nov. 12, before the start of trading on the New York Stock Exchange. The company will host an audio webcast at 10 a.m. EST / 9 a.m. CST. All interested parties are invited to listen at investors.sylvamo.com. Parties who wish to participate should call 800-715-9871 (U.S.) or +1-646-307-1963 (international) and use access code 2975749. Participants should call in no later than 9:45 a.m. EST / 8:45 a.m. CST. Replays are available at investors.sylvamo.com for one year and by phone for one week. To listen by phone, call 800-770-2030 (U.S.) or +1-609-800-9909 (international) and use access code 2975749
Sylvamo's (NYSE:SLVM) board of directors declared a quarterly dividend of $0.45 per share for the period of Oct. 1, 2024, to Dec. 31, 2024. The dividend is payable Oct. 17, 2024, to holders of record at the close of business Oct. 3, 2024. About Sylvamo Sylvamo (NYSE:SLVM) is the world's paper company with mills in Europe, Latin America and North America. Our vision is to be the employer, supplier and investment of choice. We transform renewable resources into papers that people depend on for education, communication and entertainment. Headquartered in Memphis, Tennessee, we employ more than 6,500 colleagues. Net sales for 2023 were $3.7 billion. For more information, please visit Sylvamo.
Sidoti initiated coverage of Sylvamo with a rating of Buy and set a new price target of $100.00
BofA Securities downgraded Sylvamo from Buy to Neutral and set a new price target of $82.00 from $71.00 previously
RBC Capital Mkts downgraded Sylvamo from Outperform to Sector Perform and set a new price target of $44.00 from $55.00 previously
Sylvamo's (NYSE:SLVM) board of directors entered into a cooperation agreement with Atlas Holdings, its largest shareowner, adding two new independent directors to its board. Effective March 1, Sylvamo will add Karl Meyers and Mark Wilde, expanding the company's board to 11 directors. "We look forward to welcoming Karl and Mark to our board," said Jean-Michel Ribiéras, chairman and chief executive officer. "They will bring valuable expertise to Sylvamo." The cooperation agreement includes customary restrictions and voting commitments. Sylvamo will nominate Meyers and Wilde for election with its other directors during its 2023 annual shareowners meeting. The board also determined it would