International Paper Company (IP) Stock Rating Upgraded by Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) upgraded shares of International Paper Company (NYSE:IP) from a neutral rating to a buy rating in a research note published on Thursday, July 13th, MarketBeat reports. The firm currently has $64.00 price target on the basic materials company’s stock, up from their previous price target of $60.00.
IP has been the subject of several other reports. Royal Bank Of Canada upgraded International Paper from a sector perform rating to an outperform rating and lifted their target price for the stock from $50.00 to $56.00 in a research note on Wednesday, April 19th. BidaskClub raised International Paper from a hold rating to a buy rating in a report on Friday, June 16th. Zacks Investment Research raised International Paper from a hold rating to a buy rating and set a $64.00 price target for the company in a report on Tuesday, July 11th. Barclays PLC lifted their price objective on International Paper from $45.00 to $48.00 and gave the company an underweight rating in a report on Monday, May 1st. Finally, Deutsche Bank AG lifted their price objective on International Paper from $50.00 to $54.00 and gave the company a hold rating in a report on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $57.89.
International Paper (NYSE:IP) opened at 53.99 on Thursday. The stock has a market cap of $22.73 billion, a P/E ratio of 27.42 and a beta of 1.46. The stock has a 50 day moving average of $56.47 and a 200-day moving average of $53.68. International Paper has a one year low of $43.55 and a one year high of $58.95.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the company earned $0.92 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that International Paper will post $3.47 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a $0.4625 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.43%. International Paper’s dividend payout ratio (DPR) is presently 93.91%.
In related news, insider Gregory T. Wanta sold 1,044 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total transaction of $57,649.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.64% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Searle & CO. acquired a new stake in shares of International Paper during the fourth quarter valued at approximately $780,000. JPMorgan Chase & Co. increased its position in International Paper by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 438,814 shares of the basic materials company’s stock worth $22,282,000 after buying an additional 9,553 shares during the period. UBS Asset Management Americas Inc. increased its position in International Paper by 3.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,066,651 shares of the basic materials company’s stock worth $56,598,000 after buying an additional 31,894 shares during the period. Macquarie Group Ltd. increased its position in International Paper by 1,220.4% in the fourth quarter. Macquarie Group Ltd. now owns 136,003 shares of the basic materials company’s stock worth $7,216,000 after buying an additional 125,703 shares during the period. Finally, Sound Shore Management Inc. CT increased its position in International Paper by 16.5% in the first quarter. Sound Shore Management Inc. CT now owns 3,370,525 shares of the basic materials company’s stock worth $171,155,000 after buying an additional 477,084 shares during the period. Institutional investors own 83.04% of the company’s stock.
International Paper Company Profile
International Paper Company 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’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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