International Paper Company (NYSE:IP) – Analysts at KeyCorp increased their FY2017 EPS estimates for International Paper in a research note issued to investors on Monday. KeyCorp analyst A. Josephson now anticipates that the basic materials company will post earnings of $3.51 per share for the year, up from their prior forecast of $3.33. KeyCorp currently has a “Hold” rating on the stock.
Several other research analysts also recently weighed in on IP. Stephens began coverage on shares of International Paper in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $60.00 price target for the company. Credit Suisse Group upped their price target on shares of International Paper from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Jefferies Group LLC restated a “buy” rating and set a $66.00 price target on shares of International Paper in a research report on Friday, August 18th. Barclays PLC upped their price target on shares of International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, BMO Capital Markets restated a “buy” rating on shares of International Paper in a research report on Thursday, August 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’s stock. The company presently has a consensus rating of “Hold” and an average price target of $61.73.
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International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.04. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share.
Institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its stake in shares of International Paper by 21.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 51,063 shares of the basic materials company’s stock valued at $2,891,000 after buying an additional 9,093 shares during the period. FMR LLC grew its stake in shares of International Paper by 9.9% in the 2nd quarter. FMR LLC now owns 359,574 shares of the basic materials company’s stock valued at $20,356,000 after buying an additional 32,461 shares during the period. Burney Co. grew its stake in shares of International Paper by 4.5% in the 2nd quarter. Burney Co. now owns 101,543 shares of the basic materials company’s stock valued at $5,654,000 after buying an additional 4,374 shares during the period. Homrich & Berg purchased a new stake in shares of International Paper in the 2nd quarter valued at approximately $337,000. Finally, Private Trust Co. NA grew its stake in shares of International Paper by 10.4% in the 2nd quarter. Private Trust Co. NA now owns 5,245 shares of the basic materials company’s stock valued at $296,000 after buying an additional 492 shares during the period. 83.06% of the stock is owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a $0.475 dividend. This is a boost from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 annualized dividend and a dividend yield of 3.32%. International Paper’s dividend payout ratio is 85.25%.
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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