International Paper (NYSE:IP) Given New $41.00 Price Target at Citigroup

International Paper (NYSE:IP) had its target price trimmed by Citigroup from $47.00 to $41.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

IP has been the subject of a number of other reports. Wells Fargo & Company decreased their target price on International Paper from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. Seaport Research Partners reaffirmed a “buy” rating and set a $46.00 price target on shares of International Paper in a research report on Wednesday, August 12th. Truist Financial reiterated a “buy” rating and set a $39.00 price objective (down from $41.00) on shares of International Paper in a report on Thursday. UBS Group decreased their price objective on International Paper from $47.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Finally, Bank of America reissued a “buy” rating on shares of International Paper in a research note on Thursday. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.44.

International Paper Trading Up 1.0%

Shares of NYSE IP opened at $36.40 on Friday. The company’s fifty day moving average is $34.96 and its 200-day moving average is $37.43. The stock has a market cap of $19.28 billion, a price-to-earnings ratio of -5.55, a P/E/G ratio of 4.88 and a beta of 0.93. International Paper has a twelve month low of $29.26 and a twelve month high of $50.25. The company has a quick ratio of 0.84, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

International Paper (NYSE:IP) last released its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. International Paper had a negative net margin of 14.32% and a positive return on equity of 1.77%. The business had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the company earned ($0.43) EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts predict that International Paper will post 1.23 EPS for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a yield of 5.1%. International Paper’s dividend payout ratio is presently -28.20%.

Insider Transactions at International Paper

In other news, VP William Hamic sold 24,500 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the sale, the vice president directly owned 106,952 shares in the company, valued at $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the company’s 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 transaction, the chief accounting officer directly owned 34,248 shares of the company’s stock, valued at $1,437,046.08. This represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Paper

Institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new position in International Paper during the third quarter worth $25,000. Richardson Financial Services Inc. acquired a new stake in International Paper in the third quarter valued at $26,000. Aberdeen Wealth Management LLC bought a new position in shares of International Paper in the 2nd quarter valued at about $27,000. Essential Investment Partners LLC bought a new position in shares of International Paper in the 3rd quarter valued at about $27,000. Finally, Ascentis Independent Advisors bought a new position in shares of International Paper in the 1st quarter valued at about $28,000. Institutional investors own 81.95% of the company’s stock.

International Paper Company Profile

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.