International Paper Co (IP) Given Average Rating of “Hold” by Analysts
International Paper Co (NYSE:IP) has received an average recommendation of “Hold” from the sixteen analysts that are currently covering the stock. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $54.47.
Several research analysts recently issued reports on the company. Jefferies Group LLC upgraded International Paper from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $65.00 in a research report on Friday, January 20th. Royal Bank of Canada upgraded International Paper from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $56.00 in a research report on Wednesday, April 19th. Bank of America Corp restated a “neutral” rating and set a $62.00 price objective (up from $61.00) on shares of International Paper in a research report on Tuesday, February 21st. BMO Capital Markets upgraded International Paper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 31st. Finally, Barclays PLC downgraded International Paper from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $50.00 to $45.00 in a research report on Monday, February 6th.
Shares of International Paper (NYSE:IP) traded up 0.87% during trading on Friday, hitting $51.26. 825,417 shares of the company’s stock were exchanged. International Paper has a 1-year low of $39.24 and a 1-year high of $58.86. The firm has a market capitalization of $21.17 billion, a PE ratio of 27.40 and a beta of 1.58. The stock’s 50 day moving average is $52.12 and its 200 day moving average is $51.78.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. International Paper had a return on equity of 32.96% and a net margin of 4.29%. The firm had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the firm posted $0.80 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that International Paper will post $3.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 26th will be paid a $0.4625 dividend. The ex-dividend date is Wednesday, May 24th. This represents a $1.85 annualized dividend and a yield of 3.64%. International Paper’s payout ratio is currently 84.47%.
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In other International Paper news, insider W. Michael Jr. Amick sold 10,351 shares of International Paper stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $51.46, for a total value of $532,662.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeanmichel Ribieras sold 14,500 shares of the business’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $52.05, for a total transaction of $754,725.00. The disclosure for this sale can be found here. Insiders sold a total of 137,504 shares of company stock valued at $7,280,336 over the last ninety days. 0.64% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. FNY Partners Fund LP boosted its stake in shares of International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,250 shares in the last quarter. Cantab Capital Partners LLP boosted its stake in shares of International Paper by 1,015.7% in the fourth quarter. Cantab Capital Partners LLP now owns 2,633 shares of the basic materials company’s stock valued at $140,000 after buying an additional 2,397 shares in the last quarter. Parallel Advisors LLC bought a new stake in shares of International Paper during the fourth quarter valued at about $145,000. Hefty Wealth Partners boosted its stake in shares of International Paper by 4,425.7% in the first quarter. Hefty Wealth Partners now owns 3,168 shares of the basic materials company’s stock valued at $160,000 after buying an additional 3,098 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in shares of International Paper during the first quarter valued at about $172,000. 82.62% of the stock is owned by institutional investors.
About International Paper
International Paper Company 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’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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