International Paper Stock Rating Reaffirmed by Zacks (IP)
International Paper (NYSE:IP)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Wednesday, American Banking and Market News reports. They currently have a $48.00 price objective on the stock. Zacks‘ target price points to a potential upside of 4.76% from the company’s current price.
Zacks‘ analyst wrote, “International Paper reported strong fourth 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 expansion across its businesses. Pricing initiatives and synergies from acquisition are expected to deliver better performance in the coming quarters as well. Furthermore, 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.”
In other International Paper news, CEO John Faraci sold 10,000 shares of International Paper stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $47.64, for a total transaction of $476,400.00. Following the sale, the chief executive officer now directly owns 1,742,533 shares in the company, valued at approximately $83,014,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Separately, 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. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. International Paper presently has a consensus rating of “Buy” and an average price target of $45.81.
Shares of International Paper (NYSE:IP) traded up 1.63% on Wednesday, hitting $46.565. 2,851,354 shares of the company’s stock traded hands. International Paper has a 1-year low of $39.47 and a 1-year high of $50.33. The stock has a 50-day moving average of $48.14 and a 200-day moving average of $46.89. The company has a market cap of $20.657 billion and a price-to-earnings ratio of 17.14. International Paper also was the target of some unusual options trading on Tuesday. Stock traders purchased 5,713 put options on the stock. This represents an increase of 175% compared to the average daily volume of 2,081 put options.
International Paper (NYSE:IP) last released its earnings data on Tuesday, February 4th. The company reported $0.83 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.88 by $0.05. The company had revenue of $7.25 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter last year, the company posted $0.69 earnings per share. International Paper’s revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that International Paper will post $4.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 17th. Investors 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 3.06%. The ex-dividend date is Wednesday, February 12th.
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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