Royal Bank of Canada Reiterates Outperform Rating for International Paper (NYSE:IP)

Royal Bank of Canada reissued their outperform rating on shares of International Paper (NYSE:IP) in a research note published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $64.00 price objective on the basic materials company’s stock.

A number of other research analysts have also recently commented on IP. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Truist Financial reissued a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. StockNews.com raised shares of International Paper from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Bank of America began coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Price Performance

NYSE:IP opened at $53.23 on Wednesday. The company has a market capitalization of $28.01 billion, a P/E ratio of 33.90, a P/E/G ratio of 0.39 and a beta of 1.02. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The business’s 50-day moving average is $54.86 and its 200 day moving average is $53.67. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last posted 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 return on equity of 4.75% and a net margin of 2.99%. On average, equities research analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s payout ratio is 117.83%.

Institutional Trading of International Paper

Several large investors have recently made changes to their positions in the business. Sierra Ocean LLC purchased a new position in shares of International Paper in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper during the 4th quarter worth about $26,000. Brooklyn Investment Group purchased a new stake in International Paper in the third quarter valued at approximately $25,000. Picton Mahoney Asset Management grew its position in International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 215 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in shares of International Paper in the third quarter worth $28,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

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.