Deutsche Bank AG reiterated their hold rating on shares of International Paper Company (NYSE:IP) in a research report sent to investors on Monday morning. The brokerage currently has a $56.00 target price on the basic materials company’s stock, up from their previous target price of $54.00.
A number of other research firms have also commented on IP. BidaskClub upgraded shares of International Paper from a hold rating to a buy rating in a research note on Friday, June 16th. KeyCorp restated a hold rating on shares of International Paper in a research note on Thursday, June 29th. Zacks Investment Research upgraded shares of International Paper from a hold rating to a buy rating and set a $64.00 price objective on the stock in a research note on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) upgraded shares of International Paper from a neutral rating to a buy rating and lifted their price objective for the company from $60.00 to $64.00 in a research note on Thursday, July 13th. Finally, Jefferies Group LLC restated a buy rating and issued a $66.00 price objective (up from $65.00) on shares of International Paper in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $60.27.
International Paper (IP) opened at 57.40 on Monday. The stock’s 50 day moving average price is $56.08 and its 200-day moving average price is $54.51. International Paper has a 1-year low of $43.55 and a 1-year high of $58.95. The company has a market cap of $23.70 billion, a PE ratio of 29.15 and a beta of 1.46.
International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the previous year, the company earned $0.92 earnings per share. International Paper’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, analysts forecast that International Paper will post $3.46 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.475 per share. This is a positive change from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s dividend payout ratio is presently 93.91%.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total value of $57,649.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.63% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Exencial Wealth Advisors LLC lifted its stake in shares of International Paper by 0.3% during the second quarter. Exencial Wealth Advisors LLC now owns 6,312 shares of the basic materials company’s stock valued at $357,000 after buying an additional 16 shares during the period. Wilbanks Smith & Thomas Asset Management LLC lifted its stake in shares of International Paper by 0.3% during the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 6,426 shares of the basic materials company’s stock valued at $326,000 after buying an additional 20 shares during the period. Piedmont Investment Advisors LLC lifted its stake in shares of International Paper by 0.5% during the second quarter. Piedmont Investment Advisors LLC now owns 4,335 shares of the basic materials company’s stock valued at $245,000 after buying an additional 20 shares during the period. Vaughan David Investments Inc. IL lifted its stake in shares of International Paper by 0.5% during the first quarter. Vaughan David Investments Inc. IL now owns 4,248 shares of the basic materials company’s stock valued at $216,000 after buying an additional 21 shares during the period. Finally, Mechanics Bank Trust Department lifted its stake in shares of International Paper by 0.6% during the second quarter. Mechanics Bank Trust Department now owns 4,467 shares of the basic materials company’s stock valued at $253,000 after buying an additional 26 shares during the period. 83.07% of the stock is currently owned by institutional investors.
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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