International Paper Company’s “Neutral” Rating Reaffirmed at Macquarie (IP)
International Paper Company (NYSE:IP)‘s stock had its “neutral” rating reiterated by Macquarie in a research note issued on Wednesday. They currently have a $52.00 target price on the stock, down from their previous target price of $54.00. Macquarie’s target price points to a potential upside of 7.84% from the stock’s previous close.
A number of other firms have also recently commented on IP. Analysts at Zacks reiterated a “neutral” rating on shares of International Paper Company in a research note on Wednesday. They now have a $51.00 price target on the stock. Separately, analysts at Credit Agricole downgraded shares of International Paper Company from an “outperform” rating to an “underperform” rating in a research note on Wednesday. Finally, 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. One investment 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. The company currently has an average rating of “Hold” and an average price target of $50.91.
International Paper Company (NYSE:IP) traded down 1.31% during mid-day trading on Wednesday, hitting $48.22. The stock had a trading volume of 4,809,549 shares. International Paper Company has a 52 week low of $42.3274 and a 52 week high of $51.98. The stock has a 50-day moving average of $48.86 and a 200-day moving average of $46.95. The company has a market cap of $20.888 billion and a price-to-earnings ratio of 22.11.
International Paper Company (NYSE:IP) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter 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 declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, August 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, August 13th.
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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