International Paper Co (NYSE:IP) gapped down before the market opened on Tuesday . The stock had previously closed at $48.67, but opened at $47.42. International Paper shares last traded at $46.25, with a volume of 3,414,320 shares traded.
Several analysts recently issued reports on the stock. Citigroup reduced their price target on shares of International Paper from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. BNP Paribas began coverage on shares of International Paper in a research report on Monday, December 2nd. They issued an “outperform” rating and a $53.00 target price on the stock. KeyCorp restated a “sell” rating and issued a $38.00 target price on shares of International Paper in a research report on Thursday, October 31st. ValuEngine lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research upgraded shares of International Paper from a “sell” rating to a “hold” rating and set a $47.00 target price on the stock in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $45.33.
The company has a debt-to-equity ratio of 1.37, a current ratio of 1.49 and a quick ratio of 1.03. The stock has a market cap of $18.14 billion, a price-to-earnings ratio of 8.69 and a beta of 1.53. The business’s 50-day simple moving average is $45.19 and its two-hundred day simple moving average is $42.54.
International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. International Paper had a net margin of 6.03% and a return on equity of 26.97%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.63 billion. During the same quarter last year, the business posted $1.56 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis. Equities research analysts forecast that International Paper Co will post 4.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Thursday, November 14th. This is a positive change from International Paper’s previous quarterly dividend of $0.50. International Paper’s payout ratio is 38.53%.
In other news, SVP Timothy S. Nicholls sold 45,000 shares of International Paper stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $42.44, for a total transaction of $1,909,800.00. Following the transaction, the senior vice president now owns 60,490 shares in the company, valued at $2,567,195.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP W. Michael Jr. Amick sold 8,000 shares of International Paper stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $44.83, for a total transaction of $358,640.00. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Proffitt & Goodson Inc. acquired a new position in shares of International Paper during the third quarter worth $33,000. Citizens Financial Group Inc RI lifted its holdings in shares of International Paper by 138.4% during the second quarter. Citizens Financial Group Inc RI now owns 801 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 465 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in International Paper by 32.0% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 925 shares of the basic materials company’s stock worth $39,000 after buying an additional 224 shares during the last quarter. Phocas Financial Corp. bought a new position in International Paper during the second quarter worth $45,000. Finally, Capital Investment Advisory Services LLC raised its stake in International Paper by 83.3% during the third quarter. Capital Investment Advisory Services LLC now owns 1,100 shares of the basic materials company’s stock worth $46,000 after buying an additional 500 shares during the last quarter. Institutional investors own 81.07% of the company’s stock.
International Paper Company Profile (NYSE:IP)
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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