Citigroup lowered shares of International Paper (NYSE:IP) from a buy rating to a neutral rating in a report published on Thursday, BenzingaRatingsTable reports. They currently have $45.00 price objective on the basic materials company’s stock, down from their prior price objective of $53.00.
IP has been the subject of a number of other research reports. Barclays restated a sell rating on shares of easyJet in a report on Monday, April 1st. Bank of America cut shares of Propetro from a buy rating to a neutral rating in a report on Tuesday, April 16th. UBS Group restated a sell rating on shares of in a report on Monday, June 24th. Royal Bank of Canada upgraded shares of Snap from a sector perform rating to an outperform rating and boosted their price objective for the company from $10.00 to $17.00 in a report on Friday, April 5th. Finally, Stephens set a $120.00 price objective on shares of Electronic Arts and gave the company a buy rating in a report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. International Paper currently has a consensus rating of Hold and an average price target of $48.80.
IP opened at $42.77 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.96 and a current ratio of 1.43. The company has a market capitalization of $16.99 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49. The business’s 50 day simple moving average is $43.20. International Paper has a fifty-two week low of $37.55 and a fifty-two week high of $54.95.
International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.20. The business had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.73 billion. International Paper had a net margin of 7.32% and a return on equity of 31.35%. International Paper’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share. As a group, equities analysts anticipate that International Paper will post 5.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Wednesday, August 14th. International Paper’s dividend payout ratio is currently 37.59%.
In other news, SVP Jeanmichel Ribieras sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $46.85, for a total value of $234,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Thomas J. Plath sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $45.17, for a total transaction of $45,170.00. Following the completion of the transaction, the senior vice president now owns 30,671 shares of the company’s stock, valued at approximately $1,385,409.07. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Advisory Alpha LLC acquired a new position in International Paper during the first quarter worth $25,000. Bremer Bank National Association acquired a new position in International Paper during the first quarter worth $28,000. Truvestments Capital LLC acquired a new position in International Paper during the first quarter worth $30,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in International Paper during the first quarter worth $32,000. Finally, Executive Wealth Management LLC acquired a new position in International Paper during the fourth quarter worth $33,000. Institutional investors own 81.30% of the company’s stock.
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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