International Paper Company (NYSE:IP) Receives $43.73 Consensus Price Target from Brokerages

International Paper Company (NYSE:IP) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $43.7250.

Several analysts recently issued reports on IP shares. Deutsche Bank Aktiengesellschaft began coverage on International Paper in a report on Wednesday, April 1st. They issued a “hold” rating and a $38.00 price target on the stock. Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 23rd. Citigroup decreased their price objective on International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a report on Friday, May 1st. Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Finally, BNP Paribas Exane reduced their price target on International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th.

International Paper Trading Down 0.0%

Shares of IP stock opened at $38.77 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. International Paper has a fifty-two week low of $29.26 and a fifty-two week high of $56.13. The firm’s 50 day moving average price is $34.13 and its two-hundred day moving average price is $38.16. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of -6.10 and a beta of 0.94.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. International Paper’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. On average, analysts anticipate that International Paper will post 1.39 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Friday, May 22nd. International Paper’s dividend payout ratio (DPR) is presently -29.09%.

Insider Transactions at International Paper

In related news, Director Scott Tozier purchased 10,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average cost of $31.30 per share, with a total value of $313,000.00. Following the completion of the purchase, the director owned 10,025 shares of the company’s stock, valued at $313,782.50. The trade was a 40,000.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IP. Icon Advisers Inc. Co. bought a new stake in International Paper in the third quarter valued at approximately $4,853,000. SG Americas Securities LLC boosted its position in shares of International Paper by 94.8% during the fourth quarter. SG Americas Securities LLC now owns 1,590,689 shares of the basic materials company’s stock worth $62,657,000 after purchasing an additional 774,301 shares in the last quarter. Barclays PLC grew its holdings in shares of International Paper by 12.4% in the 3rd quarter. Barclays PLC now owns 2,348,177 shares of the basic materials company’s stock valued at $108,955,000 after buying an additional 259,371 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of International Paper by 4.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,045,871 shares of the basic materials company’s stock valued at $48,528,000 after buying an additional 44,568 shares during the period. Finally, Capital International Investors increased its position in shares of International Paper by 51.4% in the 3rd quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock valued at $2,272,966,000 after buying an additional 16,622,062 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.