International Paper Company SVP Unloads $957,800 in Stock (IP)
International Paper Company (NYSE:IP) SVP Mary A. Laschinger sold 20,000 shares of International Paper Company stock on the open market in a transaction dated Friday, June 6th. The stock was sold at an average price of $47.89, for a total value of $957,800.00. Following the completion of the transaction, the senior vice president now directly owns 171,629 shares of the company’s stock, valued at approximately $8,219,313. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on IP shares. Analysts at Credit Suisse raised their price target on shares of International Paper Company from $67.00 to $70.00 in a research note on Tuesday, May 6th. They now have an “outperform” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of International Paper Company in a research note on Monday, May 5th. They now have a $53.00 price target on the stock, down previously from $54.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of International Paper Company in a research note on Thursday, May 1st. They now have a $49.00 price target on the stock. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.33.
International Paper Company (NYSE:IP) traded up 0.08% on Friday, hitting $47.89. The stock had a trading volume of 1,830,869 shares. International Paper Company has a one year low of $42.36 and a one year high of $50.33. The stock has a 50-day moving average of $46.58 and a 200-day moving average of $47.11. The company has a market cap of $20.745 billion and a P/E ratio of 21.65.
International Paper Company (NYSE:IP) last announced its earnings results on Wednesday, April 30th. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.55 by $0.06. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts expect that International Paper Company will post $3.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Wednesday, May 21st.
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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