International Paper Company (NYSE:IP) had its price target lifted by Barclays PLC from $50.00 to $52.00 in a report released on Monday, October 30th. Barclays PLC currently has an underweight rating on the basic materials company’s stock.
Several other equities research analysts also recently commented on IP. Zacks Investment Research upgraded International Paper from a hold rating to a buy rating and set a $64.00 price objective for the company in a report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) upgraded International Paper from a neutral rating to a buy rating and boosted their price objective for the company from $60.00 to $64.00 in a report on Thursday, July 13th. Jefferies Group LLC reaffirmed a buy rating and set a $66.00 target price (up previously from $65.00) on shares of International Paper in a research report on Friday, July 14th. ValuEngine cut International Paper from a buy rating to a hold rating in a research report on Monday, July 17th. Finally, BidaskClub cut International Paper from a buy rating to a hold rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $61.73.
Shares of International Paper (IP) opened at $54.21 on Monday. The firm has a market capitalization of $22,384.83, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.46. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 2.31. International Paper has a 1-year low of $47.85 and a 1-year high of $58.96.
International Paper (NYSE:IP) last issued its earnings results on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.04. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.85 billion. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. equities analysts anticipate that International Paper will post 3.5 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.475 dividend. This is a positive change from International Paper’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Tuesday, November 14th. International Paper’s dividend payout ratio is currently 87.56%.
A number of hedge funds and other institutional investors have recently made changes to their positions in IP. FMR LLC increased its stake in International Paper by 2.3% in the 1st quarter. FMR LLC now owns 327,113 shares of the basic materials company’s stock worth $16,611,000 after acquiring an additional 7,259 shares during the last quarter. Impala Asset Management LLC purchased a new position in shares of International Paper in the 1st quarter worth about $28,604,000. Morgan Stanley boosted its holdings in shares of International Paper by 24.2% in the 1st quarter. Morgan Stanley now owns 4,827,847 shares of the basic materials company’s stock worth $245,158,000 after purchasing an additional 941,911 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of International Paper in the 1st quarter worth about $7,338,000. Finally, BlackRock Inc. boosted its holdings in shares of International Paper by 3,397.1% in the 1st quarter. BlackRock Inc. now owns 37,182,708 shares of the basic materials company’s stock worth $1,888,138,000 after purchasing an additional 36,119,474 shares in the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.
About International Paper
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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