International Paper Co. (IP) Stock Rating Lowered by Macquarie
International Paper Co. (NYSE:IP) was downgraded by research analysts at Macquarie from a “market perform” rating to an “underperform” rating in a research note issued on Tuesday.
Other research analysts have also recently issued research reports about the company. Wells Fargo & Co. reiterated a “buy” rating on shares of International Paper in a research report on Monday, June 20th. Vetr cut International Paper from a “strong-buy” rating to a “buy” rating and set a $46.81 price objective on the stock. in a research report on Monday, June 20th. Zacks Investment Research upgraded International Paper from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, July 5th. Credit Suisse Group AG reiterated a “hold” rating and set a $47.00 price objective on shares of International Paper in a research report on Monday, August 1st. Finally, Deutsche Bank AG increased their price objective on International Paper from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. International Paper presently has a consensus rating of “Hold” and a consensus target price of $47.71.
International Paper (NYSE:IP) traded down 0.36% on Tuesday, hitting $47.03. The company had a trading volume of 2,625,730 shares. International Paper has a 12-month low of $32.50 and a 12-month high of $49.90. The firm has a 50-day moving average price of $47.81 and a 200-day moving average price of $44.51. The firm has a market capitalization of $19.34 billion, a PE ratio of 25.48 and a beta of 1.55.
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International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.32 billion. International Paper had a return on equity of 35.41% and a net margin of 3.58%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 EPS. On average, equities research analysts anticipate that International Paper will post $3.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.93%. This is a positive change from International Paper’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, November 10th. International Paper’s dividend payout ratio (DPR) is presently 94.12%.
In other news, insider Thomas G. Kadien sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $47.86, for a total transaction of $478,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Carol L. Roberts sold 12,256 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $46.20, for a total value of $566,227.20. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
Institutional investors have recently modified their holdings of the company. SevenBridge Financial Group LLC bought a new position in shares of International Paper during the second quarter worth about $141,000. Springbok Capital Management LLC increased its position in shares of International Paper by 50.9% in the first quarter. Springbok Capital Management LLC now owns 4,163 shares of the company’s stock worth $171,000 after buying an additional 1,405 shares during the period. Patten & Patten Inc. TN bought a new position in shares of International Paper during the third quarter worth about $202,000. Johnson Financial Group Inc. increased its position in shares of International Paper by 2,458.9% in the second quarter. Johnson Financial Group Inc. now owns 4,606 shares of the company’s stock worth $195,000 after buying an additional 4,426 shares during the period. Finally, Bender Robert & Associates bought a new position in shares of International Paper during the second quarter worth about $202,000. Institutional investors own 81.71% of the company’s stock.
International Paper Company Profile
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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