Deutsche Bank AG reiterated their hold rating on shares of International Paper Company (NYSE:IP) in a report published on Monday, October 9th. Deutsche Bank AG currently has a $56.00 target price on the basic materials company’s stock, up from their prior target price of $54.00.
Several other brokerages have also recently commented on IP. ValuEngine cut shares of International Paper from a buy rating to a hold rating in a report on Monday, July 17th. Zacks Investment Research cut shares of International Paper from a buy rating to a hold rating in a report on Friday, July 14th. Jefferies Group LLC restated a buy rating and set a $66.00 price target (up from $65.00) on shares of International Paper in a report on Friday, July 14th. Vertical Research restated a buy rating on shares of International Paper in a report on Friday, July 28th. Finally, KeyCorp restated a hold rating on shares of International Paper in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $61.22.
International Paper (NYSE:IP) traded up 1.04% on Monday, reaching $58.21. 1,181,538 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $56.76 and a 200-day moving average of $54.82. International Paper has a 12-month low of $43.55 and a 12-month high of $58.95. The company has a market cap of $24.04 billion, a P/E ratio of 29.56 and a beta of 1.46.
International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. Equities analysts expect that International Paper will post $3.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a dividend of $0.475 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.90 dividend on an annualized basis and a yield of 3.26%. This is a positive change from International Paper’s previous quarterly dividend of $0.46. International Paper’s payout ratio is 93.91%.
In other International Paper news, insider Gregory T. Wanta sold 1,044 shares of the business’s stock in a transaction on 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.
Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of International Paper by 4.4% in the 2nd quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock valued at $2,198,257,000 after purchasing an additional 1,648,915 shares in the last quarter. Wellington Management Group LLP lifted its position in International Paper by 29.5% during the 1st quarter. Wellington Management Group LLP now owns 36,352,239 shares of the basic materials company’s stock worth $1,845,965,000 after buying an additional 8,273,552 shares in the last quarter. Vanguard Group Inc. lifted its position in International Paper by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock worth $1,645,398,000 after buying an additional 184,066 shares in the last quarter. Bank of New York Mellon Corp lifted its position in International Paper by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,226,283 shares of the basic materials company’s stock worth $409,080,000 after buying an additional 836,888 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in International Paper by 3.8% during the 1st quarter. Clearbridge Investments LLC now owns 6,372,069 shares of the basic materials company’s stock worth $323,574,000 after buying an additional 230,750 shares in the last quarter. Institutional investors own 83.00% 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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