International Paper Company Plans Quarterly Dividend of $0.35 (IP)
International Paper Company (NYSE:IP) announced a quarterly dividend on Tuesday, July 8th, ARN reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.35 per share on Monday, September 15th. This represents a $1.40 annualized dividend and a dividend yield of 2.85%.
A number of research firms have recently commented on IP. Analysts at S&P Equity Research reiterated a “buy” rating on shares of International Paper Company in a research note on Monday. On a related note, analysts at Credit Suisse reiterated an “outperform” rating on shares of International Paper Company in a research note on Wednesday, July 2nd. They now have a $69.00 price target on the stock, down previously from $70.00. Finally, 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. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $56.22.
Shares of International Paper Company (NYSE:IP) traded down 0.83% during mid-day trading on Tuesday, hitting $49.04. The stock had a trading volume of 2,456,959 shares. International Paper Company has a one year low of $42.3274 and a one year high of $50.98. The stock’s 50-day moving average is $47.56 and its 200-day moving average is $46.7. The company has a market cap of $21.243 billion and a price-to-earnings ratio of 22.38.
International Paper Company (NYSE:IP) last posted its quarterly 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 $3.56 EPS for the current fiscal year.
In other International Paper Company news, CEO John V. Faraci sold 30,000 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $50.83, for a total value of $1,524,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
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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