DA Davidson Comments on International Paper Company’s FY2018 Earnings (IP)
International Paper Company (NYSE:IP) – Equities researchers at DA Davidson decreased their FY2018 earnings per share (EPS) estimates for shares of International Paper in a report released on Monday. DA Davidson analyst S. Chercover now anticipates that the basic materials company will post earnings per share of $4.23 for the year, down from their previous estimate of $4.30. DA Davidson has a “Buy” rating and a $62.00 price target on the stock.
Several other equities research analysts have also recently commented on IP. Barclays PLC reiterated a “sell” rating and set a $50.00 price target on shares of International Paper in a research report on Wednesday, August 2nd. KeyCorp reiterated a “hold” rating on shares of International Paper in a research report on Thursday, June 29th. Vertical Research reiterated a “buy” rating on shares of International Paper in a research report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of International Paper in a research report on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) raised shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $64.00 in a research note on Thursday, July 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. International Paper currently has a consensus rating of “Hold” and an average target price of $58.14.
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International Paper (NYSE IP) traded down 0.11% during mid-day trading on Tuesday, reaching $53.58. 860,635 shares of the company traded hands. The stock’s 50-day moving average price is $55.91 and its 200-day moving average price is $53.60. The firm has a market cap of $22.12 billion, a PE ratio of 27.21 and a beta of 1.46. International Paper has a one year low of $43.55 and a one year high of $58.95.
International Paper (NYSE:IP) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, August 11th. International Paper’s payout ratio is currently 93.91%.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of International Paper stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Exencial Wealth Advisors LLC raised its position in shares of International Paper by 0.3% in the second quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the basic materials company’s stock worth $357,000 after buying an additional 16 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of International Paper by 0.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 6,426 shares of the basic materials company’s stock worth $326,000 after buying an additional 20 shares during the last quarter. Vaughan David Investments Inc. IL raised its position in shares of International Paper by 0.5% in the first quarter. Vaughan David Investments Inc. IL now owns 4,248 shares of the basic materials company’s stock worth $216,000 after buying an additional 21 shares during the last quarter. Mechanics Bank Trust Department raised its position in shares of International Paper by 0.6% in the second quarter. Mechanics Bank Trust Department now owns 4,467 shares of the basic materials company’s stock worth $253,000 after buying an additional 26 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its position in shares of International Paper by 0.8% in the first quarter. Checchi Capital Advisers LLC now owns 4,670 shares of the basic materials company’s stock worth $237,000 after buying an additional 37 shares during the last quarter. 83.68% of the stock is currently owned by hedge funds and other institutional investors.
International Paper 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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