Insider Selling: Carleton C. Ealy Sells 10,000 Shares of International Paper Company Stock (IP)
International Paper Company (NYSE:IP) SVP Carleton C. Ealy sold 10,000 shares of the company’s stock on the open market in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $48.16, for a total value of $481,600.00. Following the sale, the senior vice president now directly owns 96,408 shares of the company’s stock, valued at approximately $4,643,009. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. 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 assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.33.
International Paper Company (NYSE:IP) traded down 0.15% during mid-day trading on Thursday, hitting $48.07. 2,170,125 shares of the company’s stock traded hands. International Paper Company has a 52-week low of $42.36 and a 52-week high of $50.33. The stock’s 50-day moving average is $46.81 and its 200-day moving average is $47.19. The company has a market cap of $20.823 billion and a P/E ratio of 21.78.
International Paper Company (NYSE:IP) last posted its earnings results on Wednesday, April 30th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter 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 2.91%. 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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