International Paper (NYSE:IP) to Issue Quarterly Dividend of $0.46

International Paper (NYSE:IPGet Free Report) declared a quarterly dividend on Tuesday, July 9th, RTT News reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.4625 per share by the basic materials company on Monday, September 16th. This represents a $1.85 dividend on an annualized basis and a yield of 4.35%.

International Paper has decreased its dividend payment by an average of 3.4% annually over the last three years. International Paper has a payout ratio of 64.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Paper to earn $2.77 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 66.8%.

International Paper Trading Down 1.4 %

NYSE IP opened at $42.56 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of 86.86 and a beta of 1.06. The company’s 50-day simple moving average is $42.99 and its two-hundred day simple moving average is $38.71. International Paper has a one year low of $30.78 and a one year high of $47.40.

International Paper (NYSE:IPGet Free Report) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. Equities analysts forecast that International Paper will post 1.9 EPS for the current fiscal year.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the sale, the director now directly owns 43,402 shares in the company, valued at approximately $1,957,864.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 3,600 shares of company stock worth $147,054. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

IP has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Truist Financial reaffirmed a “buy” rating and issued a $52.00 price objective on shares of International Paper in a research report on Thursday, June 27th. Stifel Nicolaus initiated coverage on shares of International Paper in a research report on Tuesday. They issued a “hold” rating and a $48.70 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.21.

Read Our Latest Report on International Paper

About International Paper

(Get Free Report)

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.

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Dividend History for International Paper (NYSE:IP)

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