International Paper Company (NYSE:IP) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of International Paper Company (NYSE:IP) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $44.3083.

Several equities analysts recently commented on the stock. Weiss Ratings cut shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Bank of America cut shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research note on Tuesday, July 14th. JPMorgan Chase & Co. raised their price target on shares of International Paper from $43.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Royal Bank Of Canada boosted their price target on shares of International Paper from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, Seaport Research Partners raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Friday, May 1st.

International Paper Stock Up 4.8%

Shares of NYSE IP opened at $38.10 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The company has a market cap of $20.17 billion, a P/E ratio of -5.99 and a beta of 0.94. International Paper has a 52 week low of $29.26 and a 52 week high of $56.13. The business has a 50-day simple moving average of $35.31 and a two-hundred day simple moving average of $37.98.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Research analysts anticipate that International Paper will post 1.39 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.9%. The ex-dividend date is Friday, August 14th. International Paper’s payout ratio is presently -29.09%.

Insiders Place Their Bets

In other International Paper news, Director Scott Tozier bought 10,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were acquired at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the purchase, the director directly owned 10,025 shares of the company’s stock, valued at $313,782.50. The trade was a 40,000.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. McIlrath & Eck LLC grew its position in International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 525 shares in the last quarter. MV Capital Management Inc. bought a new stake in International Paper during the fourth quarter worth about $25,000. Ascentis Independent Advisors purchased a new position in shares of International Paper in the 1st quarter worth about $28,000. DV Equities LLC bought a new position in shares of International Paper during the 4th quarter valued at about $29,000. Finally, Sound Income Strategies LLC raised its holdings in shares of International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after buying an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.