International Paper Company (NYSE:IP – Get Free Report) has received an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $43.7250.
IP has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of International Paper from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Weiss Ratings cut International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, April 27th. Wells Fargo & Company raised International Paper from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $39.00 in a research note on Monday, May 4th. Citigroup reduced their target price on International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, BNP Paribas Exane decreased their target price on International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th.
Check Out Our Latest Stock Report on IP
Insiders Place Their Bets
Institutional Investors Weigh In On International Paper
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of International Paper by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 64,357,913 shares of the basic materials company’s stock worth $2,535,058,000 after purchasing an additional 310,834 shares during the period. Capital International Investors increased its holdings in International Paper by 29.4% in the 4th quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after buying an additional 14,422,616 shares during the period. Capital Research Global Investors boosted its holdings in International Paper by 0.4% during the fourth quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock valued at $2,148,154,000 after purchasing an additional 204,654 shares in the last quarter. State Street Corp lifted its position in shares of International Paper by 1.3% during the 4th quarter. State Street Corp now owns 30,009,733 shares of the basic materials company’s stock worth $1,182,083,000 after buying an additional 397,673 shares during the period. Finally, Franklin Resources Inc. grew its position in International Paper by 81.6% in the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock valued at $584,270,000 after acquiring an additional 6,663,986 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.
International Paper Stock Down 2.6%
Shares of International Paper stock opened at $33.24 on Wednesday. The firm has a market cap of $17.60 billion, a price-to-earnings ratio of -5.31 and a beta of 0.96. The stock has a 50-day simple moving average of $33.66 and a 200-day simple moving average of $38.34. International Paper has a 52-week low of $29.26 and a 52-week high of $56.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94.
International Paper (NYSE:IP – Get Free Report) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. On average, equities research analysts expect that International Paper will post 1.38 earnings per share for the current fiscal year.
International Paper Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, May 22nd. International Paper’s dividend payout ratio is currently -29.09%.
International Paper Company Profile
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.
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