Wall Street Zen upgraded shares of International Paper (NYSE:IP – Free Report) from a sell rating to a hold rating in a research report report published on Saturday morning.
Other research analysts have also recently issued research reports about the company. Citigroup boosted their price target on International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of International Paper in a research note on Friday, July 24th. Seaport Research Partners upgraded International Paper from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Friday, May 1st. Finally, Bank of America downgraded shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a report on Tuesday, July 14th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.
Check Out Our Latest Stock Report on IP
International Paper Trading Up 1.7%
International Paper (NYSE:IP – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The business’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. As a group, sell-side analysts expect that International Paper will post 1.38 EPS for the current fiscal year.
International Paper Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.5%. International Paper’s dividend payout ratio is -28.37%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of IP. Capital International Investors raised its holdings in shares of International Paper by 29.4% in the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock worth $2,498,013,000 after buying an additional 14,422,616 shares during the last quarter. Franklin Resources Inc. raised its stake in International Paper by 81.6% in the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock worth $584,270,000 after acquiring an additional 6,663,986 shares during the last quarter. Norges Bank acquired a new stake in International Paper during the 4th quarter worth about $250,093,000. Bank of New York Mellon Corp increased its holdings in shares of International Paper by 66.2% in the first quarter. Bank of New York Mellon Corp now owns 13,601,299 shares of the basic materials company’s stock valued at $485,566,000 after purchasing an additional 5,417,274 shares during the period. Finally, Atlas FRM LLC raised its stake in shares of International Paper by 56.2% in the fourth quarter. Atlas FRM LLC now owns 5,000,000 shares of the basic materials company’s stock worth $196,950,000 after purchasing an additional 1,800,000 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.
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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