International Paper (NYSE:IP) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of International Paper (NYSE:IP) from a buy rating to a hold rating in a research report report published on Monday.

IP has been the topic of a number of other reports. Jefferies Financial Group decreased their price objective on International Paper from $33.00 to $32.00 and set a hold rating on the stock in a report on Wednesday, October 18th. Citigroup upped their price objective on International Paper from $30.00 to $38.00 and gave the company a neutral rating in a report on Monday, July 31st. Bank of America lowered International Paper from a neutral rating to an underperform rating and decreased their price objective for the company from $35.00 to $33.00 in a report on Monday, July 10th. Truist Financial raised International Paper from a hold rating to a buy rating and upped their price objective for the company from $30.00 to $43.00 in a report on Thursday, September 21st. Finally, UBS Group decreased their price objective on International Paper from $33.00 to $32.00 and set a neutral rating on the stock in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $36.89.

International Paper Stock Up 0.8 %

IP stock opened at $33.39 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $11.55 billion, a PE ratio of 45.12 and a beta of 1.04. International Paper has a 1-year low of $29.00 and a 1-year high of $41.89. The business’s 50 day simple moving average is $34.43 and its 200 day simple moving average is $33.37.

International Paper (NYSE:IP) last posted its earnings results on Thursday, October 26th. The basic materials company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.81 billion. International Paper had a return on equity of 10.79% and a net margin of 1.31%. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. As a group, research analysts anticipate that International Paper will post 2.12 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.85 annualized dividend and a yield of 5.54%. International Paper’s dividend payout ratio is presently 250.00%.

Hedge Funds Weigh In On International Paper

Several large investors have recently bought and sold shares of IP. MRP Capital Investments LLC acquired a new position in shares of International Paper in the first quarter worth approximately $25,000. Resurgent Financial Advisors LLC acquired a new position in shares of International Paper in the fourth quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of International Paper by 60.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 885 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 333 shares during the period. Desjardins Global Asset Management Inc. lifted its stake 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 acquiring an additional 211 shares during the period. Finally, Jones Financial Companies Lllp bought a new stake in International Paper in the first quarter worth approximately $33,000. 80.78% of the stock is currently owned by institutional investors.

About International Paper

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.