International Paper (NYSE:IP)‘s stock had its “buy” rating reissued by equities researchers at DA Davidson in a research note issued to investors on Friday, Stock Target Advisor reports. DA Davidson also issued estimates for International Paper’s Q3 2020 earnings at $0.46 EPS and FY2021 earnings at $3.03 EPS.
Several other brokerages also recently issued reports on IP. BofA Securities upgraded International Paper from a “neutral” rating to a “buy” rating in a report on Thursday, July 16th. Morgan Stanley assumed coverage on International Paper in a report on Monday, June 15th. They issued an “underweight” rating and a $29.00 price target for the company. Deutsche Bank reduced their price objective on International Paper from $46.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, May 26th. ValuEngine raised International Paper from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Zacks Investment Research cut International Paper from a “hold” rating to a “sell” rating and set a $36.00 price objective for the company. in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. International Paper presently has an average rating of “Hold” and an average price target of $41.50.
Shares of International Paper stock opened at $34.79 on Friday. International Paper has a 1 year low of $26.38 and a 1 year high of $47.64. The business has a 50-day moving average of $35.29 and a two-hundred day moving average of $36.07. The company has a market capitalization of $13.67 billion, a P/E ratio of 21.74 and a beta of 1.33. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.79 and a quick ratio of 0.56.
International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.38. International Paper had a return on equity of 19.18% and a net margin of 2.98%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the prior year, the company earned $1.15 earnings per share. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year. On average, equities analysts anticipate that International Paper will post 1.99 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Evoke Wealth LLC boosted its position in International Paper by 158.7% during the first quarter. Evoke Wealth LLC now owns 807 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 495 shares during the last quarter. Citizens Financial Group Inc RI lifted its position in shares of International Paper by 207.1% in the first quarter. Citizens Financial Group Inc RI now owns 823 shares of the basic materials company’s stock valued at $26,000 after buying an additional 555 shares during the last quarter. St. Johns Investment Management Company LLC lifted its position in shares of International Paper by 1,555.6% in the second quarter. St. Johns Investment Management Company LLC now owns 745 shares of the basic materials company’s stock valued at $26,000 after buying an additional 700 shares during the last quarter. Balentine LLC acquired a new stake in shares of International Paper in the first quarter valued at approximately $28,000. Finally, Howe & Rusling Inc. acquired a new stake in shares of International Paper in the second quarter valued at approximately $35,000. 81.06% of the stock is owned by hedge funds and other institutional investors.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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