International Paper (NYSE:IP) Shares Gap Down to $47.42

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.

Recommended Story: What is a dividend reinvestment plan?

Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.