International Paper Co. (IP) Now Covered by Analysts at Goldman Sachs Group Inc.
Equities researchers at Goldman Sachs Group Inc. started coverage on shares of International Paper Co. (NYSE:IP) in a research report issued to clients and investors on Thursday. The brokerage set a “neutral” rating on the stock.
Several other brokerages have also commented on IP. Credit Agricole SA raised their price target on shares of International Paper from $45.00 to $53.00 and gave the company an “underperform” rating in a research note on Tuesday, September 6th. Citigroup Inc. raised their price target on shares of International Paper from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, August 31st. Deutsche Bank AG restated a “hold” rating and issued a $42.00 price target on shares of International Paper in a research note on Wednesday, August 31st. Jefferies Group restated a “hold” rating on shares of International Paper in a research note on Monday, August 22nd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $47.00 price target on shares of International Paper in a research note on Saturday, August 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $46.14.
Shares of International Paper (NYSE:IP) opened at 48.49 on Thursday. The company has a 50-day moving average price of $47.68 and a 200-day moving average price of $43.57. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 26.27 and a beta of 1.59. International Paper has a 1-year low of $32.50 and a 1-year high of $49.90.
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International Paper (NYSE:IP) last announced its quarterly earnings results 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 net margin of 3.58% and a return on equity of 35.41%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the business earned $0.97 earnings per share. International Paper’s revenue was down 6.9% compared to the same quarter last year. On average, equities analysts expect that International Paper will post $3.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors 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 of this dividend was Thursday, August 11th. International Paper’s dividend payout ratio is 94.12%.
In related news, insider Thomas G. Kadien sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $47.86, for a total value of $478,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William P. Hoel sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $48.12, for a total transaction of $962,400.00. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in International Paper during the second quarter worth approximately $704,000. Kentucky Retirement Systems purchased a new position in International Paper during the second quarter worth approximately $1,482,000. Mason Street Advisors LLC purchased a new position in International Paper during the second quarter worth approximately $2,347,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of International Paper by 17.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,834 shares of the company’s stock worth $206,000 after buying an additional 715 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in shares of International Paper by 10.4% in the second quarter. Public Employees Retirement System of Ohio now owns 160,274 shares of the company’s stock worth $6,792,000 after buying an additional 15,082 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.
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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