International Paper (NYSE:IP) had its target price trimmed by Argus from $70.00 to $55.00 in a research report sent to investors on Monday morning. The firm currently has a buy rating on the basic materials company’s stock.
Several other research firms have also recently commented on IP. Citigroup cut their target price on shares of International Paper from $67.00 to $51.00 and set a buy rating for the company in a research note on Thursday, October 11th. Zacks Investment Research upgraded shares of International Paper from a sell rating to a hold rating in a research note on Monday. Goldman Sachs Group cut shares of International Paper from a buy rating to a neutral rating and set a $53.00 target price for the company. in a research note on Wednesday, October 10th. Stephens set a $57.00 price objective on shares of International Paper and gave the company a hold rating in a research note on Tuesday, September 11th. Finally, Seaport Global Securities started coverage on shares of International Paper in a research note on Tuesday, October 23rd. They issued a neutral rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $58.64.
NYSE:IP traded down $0.16 during trading hours on Monday, hitting $45.20. 290,618 shares of the company traded hands, compared to its average volume of 5,385,492. The stock has a market cap of $18.55 billion, a P/E ratio of 12.95, a PEG ratio of 0.89 and a beta of 1.54. International Paper has a twelve month low of $39.60 and a twelve month high of $66.94. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.59 and a quick ratio of 1.13.
International Paper (NYSE:IP) last released its earnings results on Thursday, October 25th. The basic materials company reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.09. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a net margin of 13.68% and a return on equity of 29.42%. As a group, equities research analysts anticipate that International Paper will post 5.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Wednesday, November 14th. This is a positive change from International Paper’s previous quarterly dividend of $0.48. International Paper’s dividend payout ratio (DPR) is 54.44%.
International Paper declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 9th that allows the company to repurchase $430.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In related news, insider Jeanmichel Ribieras sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $54.20, for a total value of $542,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Timothy S. Nicholls sold 17,000 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $52.53, for a total transaction of $893,010.00. Following the completion of the sale, the insider now owns 108,538 shares in the company, valued at $5,701,501.14. The disclosure for this sale can be found here. Insiders sold a total of 46,725 shares of company stock worth $2,484,864 in the last ninety days. Insiders own 0.32% of the company’s stock.
Several large investors have recently made changes to their positions in IP. Qube Research & Technologies Ltd acquired a new stake in shares of International Paper in the 2nd quarter valued at approximately $106,000. Squar Milner Financial Services LLC acquired a new stake in International Paper during the 2nd quarter worth approximately $125,000. Flagship Harbor Advisors LLC acquired a new stake in International Paper during the 2nd quarter worth approximately $139,000. Diamant Asset Management Inc. acquired a new stake in International Paper during the 3rd quarter worth approximately $140,000. Finally, Vigilant Capital Management LLC raised its holdings in International Paper by 375.1% during the 2nd quarter. Vigilant Capital Management LLC now owns 3,088 shares of the basic materials company’s stock worth $161,000 after buying an additional 2,438 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.
International Paper Company Profile
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
See Also: Bear Market – How and Why They Occur
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.