International Paper Company Receives Average Recommendation of “Hold” from Analysts (NYSE:IP)
International Paper Company (NYSE:IP) has earned an average rating of “Hold” from the fifteen ratings firms that are currently covering the stock, AmericanBankingNews.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $50.40.
Shares of International Paper Company (NYSE:IP) opened at 48.13 on Tuesday. International Paper Company has a 52 week low of $42.3274 and a 52 week high of $51.98. The stock’s 50-day moving average is $48.77 and its 200-day moving average is $47.03. The company has a market cap of $20.553 billion and a price-to-earnings ratio of 23.93.
International Paper Company (NYSE:IP) last released its 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. Analysts expect that International Paper Company will post $3.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders 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 2.94%. The ex-dividend date is Wednesday, August 13th.
IP has been the subject of a number of recent research reports. Analysts at Macquarie reiterated a “neutral” rating on shares of International Paper Company in a research note on Wednesday, July 30th. They now have a $52.00 price target on the stock, down previously from $54.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of International Paper Company in a research note on Wednesday, July 30th. They now have a $51.00 price target on the stock. Finally, analysts at Credit Agricole downgraded shares of International Paper Company from an “outperform” rating to an “underperform” rating in a research note on Wednesday, July 30th.
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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