International Paper Co (NYSE:IP) announced a quarterly dividend on Tuesday, January 14th, RTT News reports. Shareholders of record on Friday, February 21st will be paid a dividend of 0.5125 per share by the basic materials company on Monday, March 16th. This represents a $2.05 dividend on an annualized basis and a yield of 4.62%.
International Paper has raised its dividend payment by an average of 4.8% per year over the last three years and has increased its dividend every year for the last 7 years. International Paper has a dividend payout ratio of 46.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International Paper to earn $3.67 per share next year, which means the company should continue to be able to cover its $2.05 annual dividend with an expected future payout ratio of 55.9%.
NYSE:IP traded down $0.02 on Tuesday, reaching $44.42. 1,944,132 shares of the company’s stock were exchanged, compared to its average volume of 2,579,040. The company has a quick ratio of 1.03, a current ratio of 1.49 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $17.47 billion, a price-to-earnings ratio of 8.35 and a beta of 1.52. The business has a fifty day moving average of $45.84 and a 200-day moving average of $42.95. International Paper has a 52-week low of $36.45 and a 52-week high of $48.24.
International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.10. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.63 billion. International Paper had a net margin of 6.03% and a return on equity of 26.97%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 earnings per share. As a group, equities analysts anticipate that International Paper will post 4.37 earnings per share for the current year.
In related news, SVP W. Michael Jr. Amick sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $44.83, for a total transaction of $358,640.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.
A number of brokerages have issued reports on IP. KeyCorp reiterated a “sell” rating and set a $38.00 price target on shares of International Paper in a research note on Thursday, October 31st. ValuEngine upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Citigroup cut their target price on shares of International Paper from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Co cut their target price on shares of International Paper from $43.00 to $42.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 8th. Finally, Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating and set a $47.00 target price on the stock in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $45.33.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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