International Paper Co. (IP) Given Consensus Recommendation of “Hold” by Brokerages
International Paper Co. (NYSE:IP) has been given a consensus rating of “Hold” by the seventeen ratings firms that are covering the stock. Two analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $48.82.
IP has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of International Paper from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, July 5th. Vetr cut shares of International Paper from a “strong-buy” rating to a “buy” rating and set a $46.00 target price on the stock. in a report on Wednesday, June 29th. Jefferies Group upped their target price on shares of International Paper from $47.00 to $49.00 and gave the company a “hold” rating in a report on Friday, July 29th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $42.00 target price on shares of International Paper in a report on Wednesday, August 31st. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $47.00 target price on shares of International Paper in a report on Monday, August 1st.
Shares of International Paper (NYSE:IP) opened at 47.03 on Friday. International Paper has a 12-month low of $32.50 and a 12-month high of $49.90. The firm’s 50-day moving average price is $47.81 and its 200-day moving average price is $44.51. The firm has a market capitalization of $19.34 billion, a P/E ratio of 25.48 and a beta of 1.55.
International Paper (NYSE:IP) last issued its earnings results on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.08. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.32 billion. International Paper had a net margin of 3.58% and a return on equity of 35.41%. International Paper’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. Equities analysts predict that International Paper will post $3.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be given a dividend of $0.4625 per share. This is a positive change from International Paper’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, November 10th. This represents a $1.85 annualized dividend and a dividend yield of 3.93%. International Paper’s dividend payout ratio (DPR) is currently 94.12%.
In related news, insider William P. Hoel sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $48.12, for a total transaction of $962,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Carol L. Roberts sold 12,256 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $46.20, for a total transaction of $566,227.20. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. increased its position in shares of International Paper by 11.2% in the second quarter. Alps Advisors Inc. now owns 608,955 shares of the company’s stock valued at $25,808,000 after buying an additional 61,508 shares during the last quarter. Legal & General Group Plc increased its position in shares of International Paper by 2.9% in the first quarter. Legal & General Group Plc now owns 1,974,481 shares of the company’s stock valued at $81,027,000 after buying an additional 55,797 shares during the last quarter. Geode Capital Management LLC increased its position in shares of International Paper by 1.3% in the first quarter. Geode Capital Management LLC now owns 3,272,491 shares of the company’s stock valued at $134,028,000 after buying an additional 42,981 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of International Paper by 68.6% in the first quarter. Loomis Sayles & Co. L P now owns 22,757 shares of the company’s stock valued at $934,000 after buying an additional 9,263 shares during the last quarter. Finally, Williams Jones & Associates LLC bought a new position in shares of International Paper during the first quarter valued at approximately $607,000. 81.71% of the stock is owned by institutional investors and hedge funds.
About International Paper
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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