Shares of Stora Enso Oyj experienced a notable increase prior to trading on Wednesday, opening at $14.00, up from a previous close of $13.07. The stock has maintained this opening price, with a modest trading volume of 202 shares. This upward movement has sparked interest among investors and analysts alike.
In recent evaluations, Citigroup reaffirmed a “buy” rating for Stora Enso Oyj in a research note dated January 26, 2024. This recommendation aligns with the perspective of one analyst who has rated the stock as a Buy, while three others have issued a Hold rating and one has assigned a Sell rating. According to data from MarketBeat.com, the stock holds an average rating of “Hold” with a price target set at $10.80.
Quarterly Earnings Report Highlights
On February 4, 2024, Stora Enso Oyj released its quarterly earnings, revealing a loss of $0.03 earnings per share (EPS), which fell short of the consensus estimate of $0.04 by $0.07. Despite this earnings miss, the company reported revenue of $2.66 billion for the quarter, surpassing analysts’ expectations of $2.26 billion.
The company recorded a net margin of 7.58% and a return on equity of 3.22%. Looking ahead, analysts project that Stora Enso Oyj will achieve an EPS of $0.67 for the current fiscal year, indicating potential for recovery and growth.
About Stora Enso Oyj
Founded in 1998 through a merger between the Swedish mining and forestry company Stora and Finnish paper manufacturer Enso, Stora Enso Oyj is based in Finland and specializes in renewable solutions in packaging, biomaterials, wooden construction, and paper. The company leverages its extensive experience in the forest industry to produce an array of products. This includes paperboard for consumer goods, specialty papers for printing, and pulp for various industrial applications.
Additionally, Stora Enso manufactures wood products such as cross-laminated timber and building components, responding to the increasing demand for sustainable construction materials. The firm’s commitment to innovation and sustainability continues to drive its operations and product offerings in an evolving marketplace.
Investors and interested parties are encouraged to stay informed on the developments surrounding Stora Enso Oyj and its performance in the financial markets.
