Shares of International Paper (NYSE:IP) have been assigned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $63.17.
IP has been the topic of several recent analyst reports. Zacks Investment Research downgraded International Paper from a “strong-buy” rating to a “hold” rating and set a $63.00 target price on the stock. in a research note on Monday, July 19th. Jefferies Financial Group lifted their target price on International Paper from $78.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, June 4th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, June 11th. Wells Fargo & Company raised their price target on International Paper from $66.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, June 7th. Finally, Stephens upgraded International Paper from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $58.00 to $80.00 in a report on Monday, June 28th.
Several institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in International Paper by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,153,278 shares of the basic materials company’s stock worth $2,495,508,000 after purchasing an additional 6,109,887 shares during the period. Royal Bank of Canada increased its holdings in shares of International Paper by 40.2% in the first quarter. Royal Bank of Canada now owns 7,488,345 shares of the basic materials company’s stock valued at $404,896,000 after purchasing an additional 2,147,254 shares during the last quarter. State Street Corp grew its position in International Paper by 3.4% in the second quarter. State Street Corp now owns 25,038,719 shares of the basic materials company’s stock worth $1,535,124,000 after acquiring an additional 820,092 shares during the period. Bank of Nova Scotia grew its position in International Paper by 229.6% in the first quarter. Bank of Nova Scotia now owns 1,163,781 shares of the basic materials company’s stock worth $62,926,000 after acquiring an additional 810,665 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in International Paper by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,852,369 shares of the basic materials company’s stock worth $262,368,000 after acquiring an additional 684,543 shares during the period. Hedge funds and other institutional investors own 81.58% of the company’s stock.
International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, July 29th. The basic materials company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. International Paper had a return on equity of 16.67% and a net margin of 5.33%. The firm had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.60 billion. Research analysts anticipate that International Paper will post 4.87 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Monday, August 16th will be paid a dividend of $0.5125 per share. The ex-dividend date is Friday, August 13th. This represents a $2.05 annualized dividend and a yield of 3.55%. International Paper’s payout ratio is presently 73.21%.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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