International Paper Company (NYSE:IP) Receives $48.75 Average Target Price from Brokerages

International Paper Company (NYSE:IP) has been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $48.7462.

A number of equities analysts have commented on the stock. Bank of America downgraded shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research note on Tuesday, July 14th. Seaport Research Partners reiterated a “buy” rating and issued a $46.00 price target on shares of International Paper in a report on Wednesday, August 12th. JPMorgan Chase & Co. raised International Paper from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $51.00 to $61.00 in a research note on Tuesday, July 28th. Weiss Ratings restated a “sell (d)” rating on shares of International Paper in a report on Friday, July 24th. Finally, Loop Capital set a $61.00 target price on International Paper in a research report on Tuesday, July 28th.

International Paper Stock Up 2.3%

NYSE IP opened at $40.99 on Monday. The company has a fifty day moving average of $39.00 and a two-hundred day moving average of $37.90. The firm has a market capitalization of $21.71 billion, a price-to-earnings ratio of -6.29 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. International Paper has a 52 week low of $29.26 and a 52 week high of $50.25.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. On average, analysts predict that International Paper will post 1.34 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a dividend yield of 4.5%. International Paper’s dividend payout ratio (DPR) is currently -28.37%.

Insider Activity

In related news, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On International Paper

A number of large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new position in International Paper in the first quarter valued at about $249,000. Intech Investment Management LLC lifted its position in shares of International Paper by 100.5% during the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after buying an additional 16,055 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in shares of International Paper by 20.8% in the 2nd quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock valued at $812,000 after buying an additional 2,981 shares in the last quarter. Jump Financial LLC boosted its holdings in shares of International Paper by 280.9% in the 2nd quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock valued at $1,784,000 after buying an additional 28,092 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of International Paper by 8.0% in the 2nd quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after buying an additional 2,493 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.