Goldman Sachs Group Inc. Begins Coverage on International Paper Co. (IP)
Analysts at Goldman Sachs Group Inc. started coverage on shares of International Paper Co. (NYSE:IP) in a research note issued to investors on Thursday, The Fly reports. The firm set a “neutral” rating on the stock.
Several other equities analysts also recently issued reports on the company. Credit Agricole SA upped their target price on International Paper from $45.00 to $53.00 and gave the company an “underperform” rating in a research report on Tuesday, September 6th. Deutsche Bank AG reissued a “hold” rating and issued a $42.00 target price on shares of International Paper in a research report on Wednesday, August 31st. Citigroup Inc. upped their target price on International Paper from $49.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, August 31st. Jefferies Group reissued a “hold” rating on shares of International Paper in a research report on Monday, August 22nd. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $47.00 target price on shares of International Paper in a research report on Saturday, August 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. International Paper has a consensus rating of “Hold” and an average target price of $46.14.
International Paper (NYSE:IP) opened at 48.49 on Thursday. The stock has a market capitalization of $19.94 billion, a P/E ratio of 26.27 and a beta of 1.59. The company’s 50-day moving average price is $47.68 and its 200 day moving average price is $43.57. International Paper has a 52-week low of $32.50 and a 52-week high of $49.90.
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International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. International Paper had a return on equity of 35.41% and a net margin of 3.58%. The firm earned $5.30 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities research analysts predict that International Paper will post $3.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Thursday, August 11th. International Paper’s dividend payout ratio (DPR) is 94.12%.
In other International Paper news, insider William P. Hoel sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total value of $962,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas G. Kadien sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $47.86, for a total transaction of $478,600.00. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its position in International Paper by 48.3% in the first quarter. BlackRock Fund Advisors now owns 10,300,909 shares of the company’s stock worth $422,749,000 after buying an additional 3,356,879 shares during the period. BlackRock Group LTD raised its position in International Paper by 42.8% in the first quarter. BlackRock Group LTD now owns 5,612,262 shares of the company’s stock worth $230,327,000 after buying an additional 1,681,518 shares during the period. Bank of Montreal Can acquired a new position in International Paper during the second quarter worth $70,056,000. Eaton Vance Management raised its position in International Paper by 482.4% in the second quarter. Eaton Vance Management now owns 1,976,316 shares of the company’s stock worth $83,756,000 after buying an additional 1,637,005 shares during the period. Finally, Vanguard Group Inc. raised its position in International Paper by 4.7% in the second quarter. Vanguard Group Inc. now owns 26,798,338 shares of the company’s stock worth $1,135,714,000 after buying an additional 1,199,693 shares during the period. 81.73% of the stock is currently owned by institutional investors and hedge funds.
About International Paper
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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