International Paper Company (NYSE:IP) had its target price hoisted by Credit Suisse Group from $63.00 to $66.00 in a research report sent to investors on Friday morning. They currently have a neutral rating on the basic materials company’s stock.
Several other research analysts have also recently issued reports on IP. KeyCorp restated a hold rating on shares of International Paper in a report on Thursday, June 29th. Zacks Investment Research upgraded shares of International Paper from a hold rating to a buy rating and set a $64.00 target price on the stock in a report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) upgraded shares of International Paper from a neutral rating to a buy rating and raised their target price for the stock from $60.00 to $64.00 in a report on Thursday, July 13th. Jefferies Group LLC restated a buy rating and issued a $66.00 target price (up previously from $65.00) on shares of International Paper in a report on Friday, July 14th. Finally, ValuEngine cut shares of International Paper from a buy rating to a hold rating in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $61.55.
Shares of International Paper (IP) opened at 57.95 on Friday. The firm’s 50-day moving average is $57.17 and its 200-day moving average is $55.09. International Paper has a 12-month low of $43.55 and a 12-month high of $58.96. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 29.43 and a beta of 1.46.
International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. International Paper had a net margin of 4.00% and a return on equity of 27.56%. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the business earned $0.91 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts predict that International Paper will post $3.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 annualized dividend and a yield of 3.28%. This is a positive change from International Paper’s previous quarterly dividend of $0.46. International Paper’s dividend payout ratio (DPR) is currently 85.25%.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total transaction of $57,649.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of International Paper in the 2nd quarter worth about $424,000. IHT Wealth Management LLC raised its position in shares of International Paper by 26.8% in the 2nd quarter. IHT Wealth Management LLC now owns 1,310 shares of the basic materials company’s stock worth $650,000 after purchasing an additional 277 shares during the last quarter. FNY Partners Fund LP raised its position in shares of International Paper by 166.7% in the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,250 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of International Paper by 2.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 47 shares during the last quarter. Finally, Ffcm LLC raised its position in shares of International Paper by 148.0% in the 2nd quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 1,242 shares during the last quarter. 83.06% of the stock is owned by institutional investors and hedge funds.
International Paper Company Profile
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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