Brokerages Set International Paper Company (IP) Target Price at $58.63
International Paper Company (NYSE:IP) has been given a consensus recommendation of “Hold” by the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.63.
Several research analysts recently issued reports on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of International Paper in a research report on Friday, July 14th. KeyCorp reiterated a “hold” rating on shares of International Paper in a research report on Thursday, June 29th. BidaskClub upgraded shares of International Paper from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Zacks Investment Research downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Finally, DA Davidson upgraded shares of International Paper from a “neutral” rating to a “buy” rating and upped their price target for the stock from $53.75 to $62.00 in a research report on Monday, August 14th.
Shares of International Paper (IP) traded up 2.00% during mid-day trading on Tuesday, reaching $54.95. 1,095,779 shares of the company traded hands. The stock’s 50 day moving average is $54.94 and its 200 day moving average is $53.58. The stock has a market capitalization of $22.69 billion, a PE ratio of 27.91 and a beta of 1.46. International Paper has a 52-week low of $43.55 and a 52-week high of $58.95.
International Paper (NYSE:IP) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.72 billion. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. On average, analysts anticipate that International Paper will post $3.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend 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 other 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 value of $57,649.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Wesbanco Bank Inc. boosted its stake in International Paper by 6.0% in the first quarter. Wesbanco Bank Inc. now owns 18,577 shares of the basic materials company’s stock worth $943,000 after buying an additional 1,056 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in International Paper by 63.7% in the first quarter. Hennessy Advisors Inc. now owns 102,500 shares of the basic materials company’s stock worth $5,205,000 after buying an additional 39,900 shares during the last quarter. BTC Capital Management Inc. boosted its stake in International Paper by 0.3% in the first quarter. BTC Capital Management Inc. now owns 41,110 shares of the basic materials company’s stock worth $2,085,000 after buying an additional 110 shares during the last quarter. Meyer Handelman Co. boosted its stake in International Paper by 1.2% in the first quarter. Meyer Handelman Co. now owns 292,996 shares of the basic materials company’s stock worth $14,878,000 after buying an additional 3,400 shares during the last quarter. Finally, First Midwest Bank Trust Division boosted its stake in International Paper by 5.9% in the first quarter. First Midwest Bank Trust Division now owns 21,096 shares of the basic materials company’s stock worth $1,071,000 after buying an additional 1,183 shares during the last quarter. 83.02% of the stock is owned by institutional investors and hedge funds.
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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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