International Paper Company (IP) Given Consensus Recommendation of “Hold” by Brokerages
International Paper Company (NYSE:IP) has received a consensus recommendation of “Hold” from the sixteen research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $60.71.
IP has been the subject of several recent analyst reports. KeyCorp reissued a “hold” rating on shares of International Paper in a research note on Thursday, June 29th. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) raised International Paper from a “neutral” rating to a “buy” rating and raised their target price for the stock from $60.00 to $64.00 in a research note on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and set a $66.00 target price (up previously from $65.00) on shares of International Paper in a research note on Friday, July 14th. Finally, ValuEngine cut International Paper from a “buy” rating to a “hold” rating in a research note on Monday, July 17th.
International Paper (NYSE IP) traded down 0.21% during trading on Wednesday, hitting $58.02. The stock had a trading volume of 614,804 shares. The company’s 50 day moving average is $56.23 and its 200-day moving average is $54.61. International Paper has a 12 month low of $43.55 and a 12 month high of $58.95. The company has a market cap of $23.96 billion, a PE ratio of 29.47 and a beta of 1.46.
International Paper (NYSE:IP) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 earnings per share. On average, equities research analysts predict that International Paper will post $3.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.27%. This is an increase from International Paper’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s payout ratio is 93.91%.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of International Paper stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total transaction of $57,649.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of International Paper by 4.4% in the 2nd quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock valued at $2,198,257,000 after purchasing an additional 1,648,915 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of International Paper by 29.5% in the 1st quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock valued at $1,845,965,000 after purchasing an additional 8,273,552 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of International Paper by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock valued at $1,645,398,000 after purchasing an additional 184,066 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of International Paper by 13.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,226,283 shares of the basic materials company’s stock valued at $409,080,000 after purchasing an additional 836,888 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of International Paper by 3.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,372,069 shares of the basic materials company’s stock valued at $323,574,000 after purchasing an additional 230,750 shares during the last quarter. 83.00% of the stock is owned by institutional investors and hedge funds.
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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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