International Paper Company (IP) Given “Buy” Rating at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of International Paper Company (NYSE:IP) in a research report released on Monday morning. Royal Bank Of Canada currently has a $65.00 target price on the basic materials company’s stock.
Several other research firms have also commented on IP. KeyCorp reissued a hold rating on shares of International Paper in a report on Thursday, July 27th. ValuEngine lowered International Paper from a buy rating to a hold rating in a report on Monday, July 17th. Jefferies Group LLC reissued a buy rating and issued a $65.00 target price (up previously from $63.00) on shares of International Paper in a report on Saturday, April 29th. Zacks Investment Research raised International Paper from a sell rating to a hold rating in a report on Friday, June 30th. Finally, DA Davidson raised International Paper from a neutral rating to a buy rating and increased their target price for the company from $53.75 to $62.00 in a report on Monday, August 14th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $58.89.
Shares of International Paper (IP) opened at 53.18 on Monday. The firm has a market cap of $21.96 billion, a PE ratio of 27.01 and a beta of 1.46. International Paper has a 52-week low of $43.55 and a 52-week high of $58.95. The stock has a 50 day moving average price of $55.57 and a 200-day moving average price of $53.52.
International Paper (NYSE:IP) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. International Paper’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. On average, equities analysts anticipate that International Paper will post $3.47 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.85 annualized dividend and a dividend yield of 3.48%. International Paper’s dividend payout ratio (DPR) is 93.91%.
In other news, insider Gregory T. Wanta sold 1,044 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total transaction of $57,649.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in IP. FNY Partners Fund LP increased its stake in shares of International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,250 shares during the period. Quadrant Capital Group LLC increased its stake in shares of International Paper by 2.4% in the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock valued at $107,000 after buying an additional 47 shares during the period. Ffcm LLC increased its stake in shares of International Paper by 148.0% in the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock valued at $119,000 after buying an additional 1,242 shares during the period. Asset Advisors Corp increased its stake in shares of International Paper by 3.6% in the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock valued at $136,000 after buying an additional 84 shares during the period. Finally, Krilogy Financial LLC increased its stake in shares of International Paper by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,476 shares of the basic materials company’s stock valued at $140,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 83.68% 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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