Citigroup Initiates Coverage on International Paper (NYSE:IP)

Citigroup started coverage on shares of International Paper (NYSE:IP) in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $60.00 target price on the basic materials company’s stock.

Other analysts have also issued research reports about the stock. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a research report on Friday, January 31st. Bank of America started coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Finally, Truist Financial reiterated a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.86.

International Paper Stock Performance

Shares of International Paper stock opened at $52.71 on Wednesday. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The firm has a market capitalization of $27.73 billion, a P/E ratio of 33.57, a P/E/G ratio of 0.39 and a beta of 1.02. The company’s 50 day moving average price is $55.60 and its two-hundred day moving average price is $53.20.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. On average, equities analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, February 24th. International Paper’s dividend payout ratio is presently 117.83%.

Hedge Funds Weigh In On International Paper

A number of hedge funds have recently bought and sold shares of IP. Farther Finance Advisors LLC raised its stake in International Paper by 101.9% during the third quarter. Farther Finance Advisors LLC now owns 6,857 shares of the basic materials company’s stock worth $335,000 after buying an additional 3,461 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in International Paper by 435.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 118,364 shares of the basic materials company’s stock valued at $5,782,000 after purchasing an additional 96,264 shares in the last quarter. Sentry Investment Management LLC bought a new stake in International Paper in the third quarter valued at $79,000. American Capital Advisory LLC increased its stake in International Paper by 12.9% in the third quarter. American Capital Advisory LLC now owns 8,738 shares of the basic materials company’s stock valued at $427,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Graypoint LLC bought a new stake in International Paper in the third quarter valued at $205,000. Institutional investors own 81.95% of the company’s stock.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.