International Paper Co (NYSE:IP) – Analysts at Seaport Global Securities decreased their FY2018 earnings per share estimates for shares of International Paper in a research report issued on Wednesday, January 9th. Seaport Global Securities analyst M. Weintraub now expects that the basic materials company will earn $5.30 per share for the year, down from their previous forecast of $5.32. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for International Paper’s Q4 2018 earnings at $1.61 EPS, Q1 2019 earnings at $1.31 EPS, Q4 2019 earnings at $1.30 EPS and FY2019 earnings at $5.40 EPS.
IP has been the topic of a number of other reports. Zacks Investment Research lowered International Paper from a “buy” rating to a “hold” rating in a research note on Friday, September 21st. ValuEngine lowered International Paper from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. BMO Capital Markets lowered International Paper from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $66.00 to $51.00 in a research note on Tuesday, October 9th. Goldman Sachs Group lowered International Paper from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research note on Wednesday, October 10th. Finally, Citigroup lowered their price target on International Paper from $67.00 to $51.00 and set a “buy” rating on the stock in a research note on Thursday, October 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. International Paper has an average rating of “Hold” and an average price target of $57.00.
International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 25th. The basic materials company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.09. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a return on equity of 29.75% and a net margin of 13.68%.
International Paper declared that its Board of Directors has approved a stock buyback plan on Tuesday, October 9th that allows the company to repurchase $430.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Wednesday, February 20th. International Paper’s dividend payout ratio (DPR) is currently 57.31%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Webster Bank N. A. boosted its stake in International Paper by 64.6% during the fourth quarter. Webster Bank N. A. now owns 7,645 shares of the basic materials company’s stock worth $308,000 after buying an additional 3,000 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in International Paper during the second quarter worth $106,000. Commonwealth Bank of Australia boosted its stake in International Paper by 5.5% during the third quarter. Commonwealth Bank of Australia now owns 68,809 shares of the basic materials company’s stock worth $3,375,000 after buying an additional 3,600 shares during the last quarter. Evermay Wealth Management LLC acquired a new position in shares of International Paper in the 3rd quarter valued at $211,000. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of International Paper in the 3rd quarter valued at $5,581,000. 80.93% of the stock is currently owned by institutional investors.
International Paper Company Profile
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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