International Paper (NYSE:IP) Stock Lifted to Hold by Wall Street Zen

Wall Street Zen upgraded shares of International Paper (NYSE:IP) from a sell rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other analysts also recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $39.00 price target (down from $41.00) on shares of International Paper in a research note on Thursday, October 29th. JPMorgan Chase & Co. cut their price objective on International Paper from $62.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. Weiss Ratings cut International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Argus restated a “buy” rating and issued a $45.00 price objective on shares of International Paper in a research note on Thursday, September 24th. Finally, Bank of America reaffirmed a “buy” rating on shares of International Paper in a report on Thursday, October 29th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average target price of $45.44.

International Paper Price Performance

Shares of IP opened at $34.54 on Friday. The firm has a market capitalization of $18.29 billion, a PE ratio of -5.27, a price-to-earnings-growth ratio of 5.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.99 and a quick ratio of 0.77. International Paper has a 1-year low of $29.26 and a 1-year high of $50.25. The company’s fifty day moving average price is $34.38 and its 200-day moving average price is $37.24.

International Paper (NYSE:IP) last released its earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.43) EPS. On average, equities research analysts predict that International Paper will post 1.14 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be paid a $0.4625 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.4%. International Paper’s dividend payout ratio is presently -28.20%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Aberdeen Wealth Management LLC purchased a new stake in International Paper in the second quarter valued at $27,000. Salomon & Ludwin LLC acquired a new stake in International Paper during the 3rd quarter worth about $25,000. Ascentis Independent Advisors purchased a new position in shares of International Paper during the 1st quarter valued at about $28,000. Richardson Financial Services Inc. purchased a new position in shares of International Paper during the 3rd quarter valued at about $26,000. Finally, Delta Asset Management LLC TN purchased a new position in shares of International Paper during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

International Paper is a global producer of fiber-based packaging and pulp products. Its packaging offerings include containerboard and corrugated packaging used to protect and transport goods, while its pulp products serve a range of consumer and industrial applications.

The company traces its origins to 1898, when several U.S. paper manufacturers combined to form International Paper. Over time, it has evolved through acquisitions and changes to its business, with a focus on renewable, fiber-based materials and packaging solutions.

International Paper serves customers across multiple regions, including North America and Europe.