International Paper (NYSE:IP) to Issue $0.46 Quarterly Dividend

International Paper (NYSE:IP) declared a quarterly dividend on Tuesday, May 14th, RTT News reports. Shareholders of record on Friday, May 24th will be given a dividend of 0.4625 per share by the basic materials company on Monday, June 24th. This represents a $1.85 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Thursday, May 23rd.

International Paper has decreased its dividend payment by an average of 3.4% annually over the last three years. International Paper has a payout ratio of 67.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International Paper to earn $2.52 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 73.4%.

International Paper Stock Performance

NYSE:IP opened at $41.30 on Wednesday. The company has a fifty day moving average of $37.71 and a 200-day moving average of $36.35. The firm has a market capitalization of $14.34 billion, a P/E ratio of 85.45 and a beta of 1.01. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. International Paper has a twelve month low of $29.00 and a twelve month high of $42.82.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, sell-side analysts anticipate that International Paper will post 1.85 EPS for the current year.

Insider Buying and Selling

In related news, SVP James P. Jr. Royalty sold 5,800 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $34.75, for a total value of $201,550.00. Following the transaction, the senior vice president now owns 69,488 shares in the company, valued at approximately $2,414,708. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 10,000 shares of company stock worth $355,348 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Argus cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $42.00 in a research note on Monday, March 4th. Wells Fargo & Company lowered their target price on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price objective on shares of International Paper in a research note on Friday, February 2nd. Finally, Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Hold” and an average target price of $38.57.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.