Zacks Reiterates “Neutral” Rating for International Paper (IP)
International Paper (NYSE:IP)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Friday, AnalystRatingsNetwork reports. They currently have a $51.00 price target on the stock. Zacks‘ price objective would indicate a potential upside of 4.38% from the stock’s previous close.
Zacks‘ analyst wrote, “International Paper reported strong third quarter 2013 results as both revenue and earnings increased year over year. The company registered record operating earnings with a solid performance across the board and a healthy margin improvement with higher prices. Pricing initiatives and synergies from acquisition are expected to deliver better performance in the coming quarters. Furthermore, the strong cash flow position of the company empowers it to better utilize the cash by investing in capital projects and acquisitions. However, pension headwinds, increased raw material costs and high debt levels could peg back its growth momentum by some extent. Nevertheless, we maintain our long-term Neutral recommendation on the stock as we anticipate it to perform in line with the broader market. “
Shares of International Paper (NYSE:IP) traded down 0.92% during mid-day trading on Friday, hitting $48.41. The stock had a trading volume of 1,002,368 shares. International Paper has a 52-week low of $39.47 and a 52-week high of $50.33. The stock’s 50-day moving average is $48.07 and its 200-day moving average is $46.90. The company has a market cap of $21.476 billion and a price-to-earnings ratio of 18.27.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.08. The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that International Paper will post $3.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 17th. Stockholders of record on Monday, February 17th will be paid a dividend of 0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Wednesday, February 12th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research note to investors on Monday, December 16th. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of International Paper in a research note to investors on Friday, October 25th. They now have a $56.00 price target on the stock. Finally, analysts at Jefferies Group cut their price target on shares of International Paper from $57.00 to $56.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $46.04.
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.
To view Zacks’ full report, visit www.zacks.com
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