International Paper Co. Announces Quarterly Dividend of $1.00 (IP)
International Paper (NYSE:IP) declared a quarterly dividend on Tuesday, September 10th, StockRatingsNetwork.com reports. Shareholders of record on Friday, November 15th will be given a dividend of $1.00 per share on Monday, December 16th. This represents a $4.00 dividend on an annualized basis and a yield of 8.12%.
Several analysts have recently commented on the stock. Analysts at Argus raised their price target on shares of International Paper (NYSE:IP) from $53.00 to $56.00 in a research note to investors on Friday, August 2nd. They now have a “buy” rating on the stock. On the ratings front, analysts at Zacks downgraded shares of International Paper (NYSE:IP) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, July 29th. They now have a $52.00 price target on the stock. Finally, analysts at Barclays Capital raised their price target on shares of International Paper (NYSE:IP) from $53.00 to $58.00 in a research note to investors on Friday, July 26th. They now have an “overweight” rating on the stock.
Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. International Paper presently has an average rating of “Buy” and an average target price of $47.50.
International Paper (NYSE:IP) opened at 49.27 on Wednesday. International Paper has a 52-week low of $32.95 and a 52-week high of $50.33. The stock has a 50-day moving average of $47.95 and a 200-day moving average of $46.60. The company has a market cap of $21.972 billion and a P/E ratio of 20.82.
International Paper (NYSE:IP) last released its earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts predict that International Paper will post $3.35 earnings per share for the current fiscal year.
In other International Paper news, CEO John Faraci unloaded 10,000 shares of International Paper stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $47.79, for a total transaction of $477,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,613,038 shares of the company’s stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
International Paper Company (NYSE:IP) is a global paper and packaging company, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa.
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