Platinum Investment Management Lt recently announced the acquisition of new stake in Suzano S.A. (NYSE:SUZ). The institutional investor has increased its shareholding in the Basic Materials company by 0.08% to 4.25 million shares with purchase of 3600.0 shares. This fresh investment now brings its stake to 0.32% valued currently at $33.86 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.66 million to 3.92 million shares. And Renaissance Technologies LLC has lifted its position by 0.83% or 19753.0 shares – to 2.39 million shares.
With over 1.79 million Suzano S.A. (SUZ) shares trading Tuesday and a closing price of $9.19 on the day, the dollar volume was approximately $16.43 million. The shares have shown a negative half year performance of -13.87% and its price on 05/23/23 gained nearly 1.10%. Currently, there are 1.32B common shares owned by the public and among those 1.32B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for SUZ have a consensus price objective of $11.60. The analysts have set the share’s price value over the next 12 months at a high of $14.62 and a low of $8.18. The average price target is 13.95% above its recent price level and a downside to the estimated low will see the stock lose -12.35% over that period. But an upside of 37.14% will see the stock hit the forecast high price target while median target price for the stock is $11.49.
The top 3 mutual fund holders in Suzano S.A. are SPDR S&P Global Natural Resources, JOHCM Emerging Markets Opportunit, and UBS. SPDR S&P Global Natural Resources owns 3.93 million shares of the company’s stock, all valued at over $31.29 million. The company bought an additional 45180.0 shares recently to bring their total holdings to about 0.30% of the shares outstanding. JOHCM Emerging Markets Opportunit bought 88746.0 shares to see its total holdings expand to 1.57 million shares valued at over $12.5 million and representing 0.12% of the shares outstanding. UBS bought 79200.0 shares to bring its total holdings to over 0.9 million shares at a value of $7.17 million. UBS now owns shares totaling to 0.07% of the shares outstanding.
Shares of Suzano S.A. (NYSE: SUZ) opened at $9.42, up $0.33 from a prior closing price of $9.09. However, the script later moved the day high at 9.45, up 1.10%. The company’s stock has a 5-day price change of 4.43% and 3.26% over the past three months. SUZ shares are trading -0.54% year to date (YTD), with the 12-month market performance down to -12.81% lower. It has a 12-month low price of $7.46 and touched a high of $11.50 over the same period. SUZ has an average intraday trading volume of 1.48 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.21%, 11.19%, and 1.05% respectively.
Institutional ownership of Suzano S.A. (NYSE: SUZ) shares accounts for 2.97% of the company’s 1.32B shares outstanding. Mutual fund holders own 0.74%, while other institutional holders and individual stakeholders account for 1.66% and — respectively.
It has a market capitalization of $12.19B. The stock’s trailing 12-month PE ratio is 3.22, while the earnings-per-share (ttm) stands at $2.85. The company has a PEG of 0.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.84% over the week and 2.64% over the month.
Analysts forecast that Suzano S.A. (SUZ) will achieve an EPS of $0.17 for the current quarter, $0.18 for the next quarter and $1.12 for 2024. The lowest estimate earnings-per-share for the quarter is $0.17 while analysts give the company a high EPS estimate of $0.17. Comparatively, EPS for the current quarter was $0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -66.80%, and -0.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Suzano S.A. (SUZ) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 5 of the 15 advise that investors “hold,” and 1 rated it as a “Sell.”
