International Paper Company (NYSE:IP) – Research analysts at DA Davidson cut their FY2017 earnings per share estimates for International Paper in a research report issued to clients and investors on Friday. DA Davidson analyst S. Chercover now anticipates that the basic materials company will post earnings per share of $3.37 for the year, down from their previous forecast of $3.48.
International Paper (NYSE:IP) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 earnings per share. ILLEGAL ACTIVITY WARNING: This piece was posted by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://www.com-unik.info/2017/08/19/fy2017-eps-estimates-for-international-paper-company-lowered-by-analyst-nyseip-updated-updated.html.
A number of other analysts also recently commented on the company. Jefferies Group LLC restated a “buy” rating and set a $63.00 price objective on shares of International Paper in a report on Wednesday, April 12th. Barclays PLC upped their price objective on International Paper from $45.00 to $48.00 and gave the stock an “underweight” rating in a report on Monday, May 1st. Citigroup Inc. restated a “neutral” rating on shares of International Paper in a report on Saturday, April 22nd. Deutsche Bank AG upped their price objective on International Paper from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, April 25th. Finally, Royal Bank Of Canada upgraded International Paper from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $50.00 to $56.00 in a report on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $56.90.
International Paper (NYSE:IP) traded up 0.4449% during midday trading on Monday, reaching $55.2246. The company’s stock had a trading volume of 150,815 shares. International Paper has a 52 week low of $43.55 and a 52 week high of $58.95. The firm’s 50-day moving average price is $56.62 and its 200-day moving average price is $53.66. The stock has a market capitalization of $23.25 billion, a PE ratio of 28.0470 and a beta of 1.48.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.85 annualized dividend and a yield of 3.36%. International Paper’s dividend payout ratio is currently 93.91%.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in International Paper by 3,397.1% in the first quarter. BlackRock Inc. now owns 37,182,708 shares of the basic materials company’s stock worth $1,888,138,000 after buying an additional 36,119,474 shares during the period. Wellington Management Group LLP increased its position in International Paper by 29.5% in the first quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock worth $1,845,965,000 after buying an additional 8,273,552 shares during the period. Bank of New York Mellon Corp increased its position in International Paper by 62.9% in the first quarter. Bank of New York Mellon Corp now owns 6,389,395 shares of the basic materials company’s stock worth $324,455,000 after buying an additional 2,466,074 shares during the period. Iridian Asset Management LLC CT increased its position in International Paper by 149.4% in the first quarter. Iridian Asset Management LLC CT now owns 3,745,820 shares of the basic materials company’s stock worth $190,213,000 after buying an additional 2,243,965 shares during the period. Finally, Ameriprise Financial Inc. increased its position in International Paper by 64.2% in the first quarter. Ameriprise Financial Inc. now owns 5,369,840 shares of the basic materials company’s stock worth $271,771,000 after buying an additional 2,098,824 shares during the period. Hedge funds and other institutional investors own 83.09% of the company’s stock.
About International Paper
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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