International Paper Company Downgraded to Underperform at Credit Agricole (IP)
International Paper Company (NYSE:IP) was downgraded by analysts at Credit Agricole from an “outperform” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports.
Shares of International Paper Company (NYSE:IP) traded down 1.21% during mid-day trading on Wednesday, hitting $48.27. The stock had a trading volume of 845,572 shares. International Paper Company has a 1-year low of $42.3274 and a 1-year high of $51.98. The stock’s 50-day moving average is $48.86 and its 200-day moving average is $46.95. The company has a market cap of $20.910 billion and a P/E ratio of 22.11.
International Paper Company (NYSE:IP) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.81 by $0.14. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts predict that International Paper Company will post $3.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 15th 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, August 13th.
A number of other firms have also recently commented on IP. Analysts at Goldman Sachs downgraded shares of International Paper Company from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, July 22nd. Separately, analysts at Macquarie downgraded shares of International Paper Company from an “outperform” rating to a “neutral” rating in a research note on Monday, July 21st. They now have a $54.00 price target on the stock, down previously from $58.00. Finally, analysts at Buckingham Research downgraded shares of International Paper Company from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. They now have a $52.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. International Paper Company has an average rating of “Hold” and a consensus target price of $50.91.
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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