International Paper Company (NYSE:IP) Stock Rating Upgraded by Goldman Sachs Group, Inc. (The)
International Paper Company (NYSE:IP) was upgraded by Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $64.00 price target on the basic materials company’s stock, up from their prior price target of $60.00. Goldman Sachs Group, Inc. (The)’s price objective would indicate a potential upside of 10.06% from the company’s previous close.
A number of other analysts have also recently issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $63.00 price objective on shares of International Paper Company in a research report on Wednesday, April 12th. Barclays PLC raised their price objective on International Paper Company from $45.00 to $48.00 and gave the company an “underweight” rating in a research report on Monday, May 1st. Citigroup Inc. reaffirmed a “neutral” rating on shares of International Paper Company in a research report on Saturday, April 22nd. Deutsche Bank AG raised their price objective on International Paper Company from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada raised International Paper Company from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $50.00 to $56.00 in a report on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. International Paper Company presently has a consensus rating of “Hold” and a consensus price target of $56.90.
Shares of International Paper Company (IP) remained flat at $58.15 on Thursday. The company had a trading volume of 1,092,402 shares. International Paper Company has a 12-month low of $43.55 and a 12-month high of $58.95. The firm has a 50 day moving average price of $54.19 and a 200-day moving average price of $53.16. The stock has a market capitalization of $24.01 billion, a P/E ratio of 31.08 and a beta of 1.48.
International Paper Company (NYSE:IP) last released its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. International Paper Company had a return on equity of 30.44% and a net margin of 3.63%. The company had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the firm posted $0.80 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Analysts predict that International Paper Company will post $3.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.85 annualized dividend and a yield of 3.18%. International Paper Company’s dividend payout ratio is presently 98.40%.
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A number of institutional investors have recently made changes to their positions in the stock. Searle & CO. bought a new position in shares of International Paper Company during the fourth quarter valued at $780,000. JPMorgan Chase & Co. boosted its position in shares of International Paper Company by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 438,814 shares of the basic materials company’s stock valued at $22,282,000 after buying an additional 9,553 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of International Paper Company by 3.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,066,651 shares of the basic materials company’s stock valued at $56,598,000 after buying an additional 31,894 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of International Paper Company by 1,220.4% in the fourth quarter. Macquarie Group Ltd. now owns 136,003 shares of the basic materials company’s stock valued at $7,216,000 after buying an additional 125,703 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its position in shares of International Paper Company by 16.5% in the first quarter. Sound Shore Management Inc. CT now owns 3,370,525 shares of the basic materials company’s stock valued at $171,155,000 after buying an additional 477,084 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.
About International Paper Company
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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