ValuEngine Downgrades International Paper (NYSE:IP) to Hold

ValuEngine lowered shares of International Paper (NYSE:IP) from a buy rating to a hold rating in a research report released on Tuesday, ValuEngine reports.

Several other brokerages have also issued reports on IP. KeyCorp reiterated a sell rating and issued a $38.00 price target on shares of International Paper in a report on Thursday, October 31st. Zacks Investment Research upgraded shares of International Paper from a sell rating to a hold rating and set a $47.00 target price on the stock in a report on Tuesday, November 5th. Exane BNP Paribas began coverage on shares of International Paper in a research report on Monday. They issued an outperform rating and a $53.00 price target on the stock. Stephens set a $50.00 price target on shares of International Paper and gave the company a hold rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Co decreased their price objective on shares of International Paper from $43.00 to $42.00 and set a market perform rating for the company in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $45.82.

Shares of NYSE IP opened at $46.08 on Tuesday. The firm has a market cap of $18.17 billion, a PE ratio of 8.66 and a beta of 1.53. International Paper has a 12-month low of $36.45 and a 12-month high of $48.24. The company’s fifty day simple moving average is $44.49 and its 200 day simple moving average is $42.47. The company has a quick ratio of 1.03, a current ratio of 1.49 and a debt-to-equity ratio of 1.37.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. International Paper had a net margin of 6.03% and a return on equity of 26.97%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.63 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. On average, equities analysts predict that International Paper will post 4.37 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from International Paper’s previous quarterly dividend of $0.50. International Paper’s dividend payout ratio is currently 38.53%.

In related news, SVP W. Michael Jr. Amick sold 8,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $44.83, for a total value of $358,640.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Timothy S. Nicholls sold 45,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $42.44, for a total transaction of $1,909,800.00. Following the sale, the senior vice president now directly owns 60,490 shares in the company, valued at $2,567,195.60. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of International Paper by 32.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 925 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 224 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of International Paper by 1.6% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 14,812 shares of the basic materials company’s stock valued at $619,000 after acquiring an additional 228 shares during the last quarter. Fulcrum Capital LLC bought a new position in shares of International Paper in the 3rd quarter valued at about $15,139,000. Shulman DeMeo Asset Management LLC grew its position in International Paper by 3.0% in the third quarter. Shulman DeMeo Asset Management LLC now owns 8,403 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 245 shares in the last quarter. Finally, Carroll Financial Associates Inc. grew its position in International Paper by 15.5% in the third quarter. Carroll Financial Associates Inc. now owns 1,930 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 81.06% of the company’s stock.

International Paper Company Profile

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

Recommended Story: What is the Dividend Aristocrat Index?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for International Paper (NYSE:IP)

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit