International Paper’s (IP) “Outperform” Rating Reaffirmed at Wells Fargo & Co

Wells Fargo & Co reiterated their outperform rating on shares of International Paper (NYSE:IP) in a report published on Monday, The Fly reports. Wells Fargo & Co currently has a $70.00 price objective on the basic materials company’s stock, up from their previous price objective of $65.00.

Several other equities analysts have also recently weighed in on the stock. Credit Suisse Group raised their price target on shares of International Paper from $63.00 to $66.00 and gave the company a neutral rating in a research report on Friday, October 27th. ValuEngine lowered shares of International Paper from a buy rating to a hold rating in a research note on Wednesday, November 15th. Royal Bank of Canada reiterated a buy rating and issued a $65.00 price objective on shares of International Paper in a research note on Monday, October 23rd. Deutsche Bank reiterated a hold rating and issued a $56.00 price objective (up previously from $54.00) on shares of International Paper in a research note on Monday, October 9th. Finally, Bank of America upgraded shares of International Paper from a neutral rating to a buy rating and set a $66.00 price objective for the company in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. International Paper currently has an average rating of Hold and an average target price of $63.25.

Shares of International Paper (NYSE:IP) traded up $0.61 during midday trading on Monday, reaching $62.23. 1,238,500 shares of the company traded hands, compared to its average volume of 2,216,038. International Paper has a twelve month low of $49.60 and a twelve month high of $62.44. The company has a market cap of $25,640.00, a PE ratio of 28.68, a price-to-earnings-growth ratio of 1.45 and a beta of 1.47. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.97 and a current ratio of 1.48.

International Paper (NYSE:IP) last announced its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 quarter last year, the firm earned $0.91 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. equities analysts predict that International Paper will post 3.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.475 per share. The ex-dividend date is Tuesday, February 20th. This represents a $1.90 annualized dividend and a dividend yield of 3.05%. International Paper’s payout ratio is currently 87.56%.

Several hedge funds have recently modified their holdings of IP. Piedmont Investment Advisors LLC boosted its holdings in International Paper by 0.5% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 4,335 shares of the basic materials company’s stock worth $245,000 after buying an additional 20 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of International Paper by 2.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock worth $107,000 after acquiring an additional 47 shares during the last quarter. Veritable L.P. lifted its holdings in shares of International Paper by 0.4% during the 2nd quarter. Veritable L.P. now owns 14,704 shares of the basic materials company’s stock worth $832,000 after acquiring an additional 58 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of International Paper by 1.7% during the 2nd quarter. Cetera Investment Advisers now owns 6,212 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 106 shares during the last quarter. Finally, ETRADE Capital Management LLC lifted its holdings in shares of International Paper by 0.4% during the 2nd quarter. ETRADE Capital Management LLC now owns 28,063 shares of the basic materials company’s stock worth $1,589,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 81.85% of the company’s stock.

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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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