International Paper Price Target Cut to $56.00 by Analysts at RBC Capital (IP)
Research analysts at RBC Capital lowered their target price on shares of International Paper (NYSE:IP) from $58.00 to $56.00 in a report released on Wednesday, ARN reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price objective suggests a potential upside of 29.72% from the stock’s previous close.
Shares of International Paper (NYSE:IP) traded up 0.02% during mid-day trading on Wednesday, hitting $43.17. The stock had a trading volume of 3,244,992 shares. 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 $46.80 and a 200-day moving average of $46.78. The company has a market cap of $19.252 billion and a P/E ratio of 18.23.
International Paper (NYSE:IP) last issued its quarterly 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. Analysts expect that International Paper will post $3.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 9.27%. The ex-dividend date is Wednesday, November 13th. This is an increase from International Paper’s previous quarterly dividend of $0.30.
A number of other firms have also recently commented on IP. Analysts at BMO Capital Markets cut their price target on shares of International Paper from $62.00 to $58.00 in a research note to investors on Wednesday, October 2nd. They now have an “outperform” rating on the stock. Separately, analysts at Merrill Lynch downgraded shares of International Paper from a “buy” rating to a “neutral” rating in a research note to investors on Monday, September 30th. Finally, analysts at Bank of America Corp. downgraded shares of International Paper from a “buy” rating to a “neutral” rating in a research note to investors on Monday, September 30th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $46.90.
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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