International Paper (NYSE:IP) Given Average Recommendation of “Hold” by Analysts

Shares of International Paper (NYSE:IPGet Rating) have received a consensus rating of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $48.40.

Several equities research analysts have issued reports on IP shares. Jefferies Financial Group downgraded shares of International Paper from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $40.00 to $31.00 in a research note on Friday, September 16th. Wells Fargo & Company cut shares of International Paper from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $58.00 to $47.00 in a research report on Monday, July 18th. KeyCorp reduced their target price on shares of International Paper from $41.00 to $37.00 and set an “underweight” rating on the stock in a research report on Friday, July 1st. Citigroup cut shares of International Paper from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $53.00 to $46.00 in a research report on Tuesday, June 21st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of International Paper from $48.00 to $44.00 in a research report on Tuesday, July 19th.

International Paper Price Performance

International Paper stock opened at $34.26 on Thursday. International Paper has a 1 year low of $34.24 and a 1 year high of $57.86. The firm has a 50 day moving average price of $41.99 and a 200 day moving average price of $44.33. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 7.12 and a beta of 0.90. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.18 and a current ratio of 1.62.

International Paper (NYSE:IPGet Rating) last released its quarterly earnings data on Thursday, July 28th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.13. International Paper had a net margin of 8.60% and a return on equity of 17.25%. The company had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. International Paper’s revenue for the quarter was down 4.0% on a year-over-year basis. Sell-side analysts predict that International Paper will post 4.54 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.85 annualized dividend and a dividend yield of 5.40%. International Paper’s dividend payout ratio is currently 38.46%.

Insider Transactions at International Paper

In other news, major shareholder Paper Co /New/ International sold 4,614,358 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $36.25, for a total transaction of $167,270,477.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.42% of the company’s stock.

Institutional Trading of International Paper

A number of hedge funds have recently bought and sold shares of IP. Bivin & Associates Inc. purchased a new stake in International Paper during the fourth quarter valued at about $30,000. Desjardins Global Asset Management Inc. lifted its position in shares of International Paper by 45.5% in the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 211 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of International Paper in the second quarter worth approximately $36,000. Eagle Bay Advisors LLC purchased a new stake in shares of International Paper in the second quarter worth approximately $38,000. Finally, Capital Asset Advisory Services LLC purchased a new stake in shares of International Paper in the second quarter worth approximately $41,000. 85.84% of the stock is owned by hedge funds and other institutional investors.

About International Paper

(Get Rating)

International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Analyst Recommendations for International Paper (NYSE:IP)

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