BMO Capital Markets Begins Coverage on International Paper Company (IP)
Investment analysts at BMO Capital Markets assumed coverage on shares of International Paper Company (NYSE:IP) in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating on the stock.
International Paper Company (NYSE:IP) opened at 49.06 on Thursday. 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 $48.17 and its 200-day moving average is $47.10. The company has a market cap of $20.950 billion and a P/E ratio of 24.34.
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 $3.56 earnings per share for the current fiscal year.
In other International Paper Company news, SVP Timothy S. Nicholls unloaded 20,000 shares of International Paper Company stock on the open market in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $48.84, for a total transaction of $976,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on IP. 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $49.56.
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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