International Paper Company to Issue Quarterly Dividend of $0.46 (NYSE:IP)
International Paper Company (NYSE:IP) announced a quarterly dividend on Tuesday, July 11th, RTT News reports. Stockholders of record on Tuesday, August 15th will be paid a dividend of 0.4625 per share by the basic materials company on Friday, September 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.24%.
International Paper Company has increased its dividend by an average of 12.6% per year over the last three years and has increased its dividend every year for the last 5 years. International Paper Company has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Paper Company to earn $4.30 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 43.0%.
Shares of International Paper Company (IP) traded down 0.35% during midday trading on Tuesday, hitting $57.04. The stock had a trading volume of 1,183,894 shares. International Paper Company has a 52 week low of $42.19 and a 52 week high of $58.86. The firm has a market cap of $23.55 billion, a P/E ratio of 30.49 and a beta of 1.48. The company’s 50 day moving average is $54.19 and its 200 day moving average is $53.16.
International Paper Company (NYSE:IP) last issued its earnings results on Thursday, April 27th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.44 billion. International Paper Company had a return on equity of 30.44% and a net margin of 3.63%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. On average, equities analysts predict that International Paper Company will post $3.63 earnings per share for the current fiscal year.
Several analysts have issued reports on IP shares. Jefferies Group LLC restated a “buy” rating and issued a $63.00 target price on shares of International Paper Company in a research note on Wednesday, April 12th. Royal Bank Of Canada upgraded International Paper Company from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $50.00 to $56.00 in a research note on Wednesday, April 19th. Citigroup Inc. restated a “neutral” rating on shares of International Paper Company in a research note on Saturday, April 22nd. Deutsche Bank AG boosted their target price on International Paper Company from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, April 25th. Finally, Barclays PLC boosted their target price on International Paper Company from $45.00 to $48.00 and gave the company an “underweight” rating in a research note on Monday, May 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $55.67.
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International Paper Company Company Profile
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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