IP has been the topic of a number of other research reports. Jefferies Group restated a hold rating on shares of International Paper in a research report on Friday, August 5th. Credit Agricole SA lifted their target price on International Paper from $45.00 to $53.00 and gave the company an underperform rating in a research report on Tuesday, September 6th. Zacks Investment Research upgraded International Paper from a hold rating to a buy rating and set a $48.00 target price on the stock in a research report on Tuesday, July 5th. Credit Suisse Group AG restated a hold rating and issued a $47.00 target price on shares of International Paper in a research report on Monday, August 1st. Finally, Deutsche Bank AG restated a hold rating and issued a $42.00 target price on shares of International Paper in a research report on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. International Paper has a consensus rating of Hold and an average target price of $47.71.
Shares of International Paper (NYSE:IP) opened at 45.82 on Tuesday. The company has a market cap of $18.84 billion, a P/E ratio of 24.82 and a beta of 1.55. International Paper has a 12 month low of $32.50 and a 12 month high of $49.90. The company’s 50-day moving average price is $47.96 and its 200-day moving average price is $44.33.
International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.32 billion. International Paper had a return on equity of 35.41% and a net margin of 3.58%. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. Equities analysts forecast that International Paper will post $3.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.4625 per share. This is a boost from International Paper’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, November 10th. International Paper’s dividend payout ratio is currently 94.12%.
In other news, insider William P. Hoel sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $48.12, for a total transaction of $962,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Carol L. Roberts sold 12,256 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $46.20, for a total value of $566,227.20. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
Several hedge funds have recently made changes to their positions in IP. SevenBridge Financial Group LLC purchased a new stake in shares of International Paper during the second quarter worth about $141,000. Springbok Capital Management LLC boosted its stake in shares of International Paper by 50.9% in the first quarter. Springbok Capital Management LLC now owns 4,163 shares of the company’s stock worth $171,000 after buying an additional 1,405 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of International Paper by 2,458.9% in the second quarter. Johnson Financial Group Inc. now owns 4,606 shares of the company’s stock worth $195,000 after buying an additional 4,426 shares during the period. Bender Robert & Associates purchased a new stake in shares of International Paper during the second quarter worth about $202,000. Finally, Patten & Patten Inc. TN purchased a new stake in shares of International Paper during the third quarter worth about $202,000. 81.72% of the stock is owned by hedge funds and other institutional investors.
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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