Stephens downgraded shares of International Paper (NYSE:IP) from an overweight rating to an equal weight rating in a report released on Monday, Briefing.com Automated Import reports. Stephens currently has $60.00 target price on the basic materials company’s stock.
A number of other equities analysts also recently commented on IP. UBS Group reduced their price objective on International Paper from $55.00 to $54.00 and set a buy rating on the stock in a research report on Wednesday, April 10th. Royal Bank of Canada cut International Paper from an outperform rating to a sector perform rating and cut their target price for the stock from $54.00 to $47.00 in a research note on Friday, April 5th. Citigroup raised their target price on International Paper from $53.00 to $55.00 and gave the stock a buy rating in a research note on Friday, April 5th. Bank of America cut International Paper from a buy rating to a neutral rating in a research note on Tuesday, April 16th. Finally, Barclays cut their target price on International Paper from $40.00 to $39.00 and set an underweight rating for the company in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $51.64.
Shares of International Paper stock opened at $42.54 on Monday. International Paper has a one year low of $37.55 and a one year high of $54.95. The stock has a market capitalization of $17.05 billion, a P/E ratio of 8.00, a price-to-earnings-growth ratio of 1.66 and a beta of 1.54. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.96 and a current ratio of 1.43. The stock’s 50 day moving average is $43.67.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.20. International Paper had a return on equity of 31.35% and a net margin of 7.32%. The firm had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the business posted $0.94 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. Equities analysts predict that International Paper will post 5.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.00 annualized dividend and a yield of 4.70%. International Paper’s dividend payout ratio (DPR) is 37.59%.
In other news, SVP Jeanmichel Ribieras sold 5,000 shares of International Paper stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $46.85, for a total value of $234,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Thomas J. Plath sold 1,000 shares of International Paper stock in a transaction on Friday, May 17th. The shares were sold at an average price of $45.17, for a total value of $45,170.00. Following the completion of the sale, the senior vice president now directly owns 30,671 shares of the company’s stock, valued at $1,385,409.07. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of IP. Bremer Trust National Association acquired a new stake in shares of International Paper in the fourth quarter valued at $25,000. Advisory Alpha LLC acquired a new stake in shares of International Paper in the first quarter valued at $25,000. Bremer Bank National Association acquired a new stake in shares of International Paper in the first quarter valued at $28,000. Truvestments Capital LLC acquired a new stake in shares of International Paper in the first quarter valued at $30,000. Finally, Proficio Capital Partners LLC grew its stake in shares of International Paper by 94.6% in the fourth quarter. Proficio Capital Partners LLC now owns 798 shares of the basic materials company’s stock valued at $32,000 after buying an additional 388 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.
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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