International Paper Co (NYSE:IP) has earned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $64.83.
A number of research firms recently commented on IP. Deutsche Bank began coverage on International Paper in a report on Monday, June 18th. They issued a “hold” rating and a $64.00 price target on the stock. MED lowered their price target on International Paper from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Monday, June 18th. ValuEngine cut International Paper from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. Zacks Investment Research cut International Paper from a “buy” rating to a “hold” rating in a report on Friday, September 21st. Finally, Citigroup reissued a “buy” rating and issued a $65.00 price target (down from $71.00) on shares of International Paper in a report on Monday, July 23rd.
Shares of NYSE:IP traded down $1.45 during mid-day trading on Wednesday, reaching $47.33. 4,389,367 shares of the company traded hands, compared to its average volume of 2,742,209. The company has a market cap of $20.10 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.99 and a beta of 1.54. The company has a current ratio of 1.57, a quick ratio of 1.13 and a debt-to-equity ratio of 1.57. International Paper has a 52 week low of $46.90 and a 52 week high of $66.94.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.10. The company had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.80 billion. International Paper had a return on equity of 29.24% and a net margin of 12.95%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. Equities research analysts predict that International Paper will post 5.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Wednesday, August 15th were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $1.90 annualized dividend and a yield of 4.01%. International Paper’s payout ratio is presently 54.44%.
In other International Paper news, SVP Sharon R. Ryan sold 15,000 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $52.87, for a total value of $793,050.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy S. Nicholls sold 17,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $52.53, for a total value of $893,010.00. Following the completion of the transaction, the insider now directly owns 108,538 shares in the company, valued at approximately $5,701,501.14. The disclosure for this sale can be found here. Insiders sold a total of 46,725 shares of company stock worth $2,484,864 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of IP. Levin Capital Strategies L.P. grew its position in shares of International Paper by 27,958.2% during the 1st quarter. Levin Capital Strategies L.P. now owns 1,122,329 shares of the basic materials company’s stock worth $59,966,000 after buying an additional 1,118,329 shares in the last quarter. Miller Howard Investments Inc. NY bought a new position in shares of International Paper during the 2nd quarter worth $53,831,000. OppenheimerFunds Inc. lifted its stake in shares of International Paper by 266.5% during the 1st quarter. OppenheimerFunds Inc. now owns 1,025,416 shares of the basic materials company’s stock worth $54,788,000 after purchasing an additional 745,662 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of International Paper by 130.8% during the 2nd quarter. First Trust Advisors LP now owns 640,036 shares of the basic materials company’s stock worth $33,333,000 after purchasing an additional 362,690 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in shares of International Paper by 57.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 790,106 shares of the basic materials company’s stock worth $42,215,000 after purchasing an additional 289,213 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.
About International Paper
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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