International Paper (NYSE:IP) Given Consensus Rating of “Moderate Buy” by Brokerages

International Paper (NYSE:IP) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $53.86.

Several equities research analysts have recently issued reports on IP shares. JPMorgan Chase & Co. initiated coverage on International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Wall Street Zen downgraded shares of International Paper from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Truist Financial cut their target price on shares of International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $40.00 price target (down from $45.00) on shares of International Paper in a research report on Friday, May 9th.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now owns 31,525 shares of the company’s stock, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC increased its position in shares of International Paper by 281.3% during the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 346 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of International Paper in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in shares of International Paper during the fourth quarter worth about $26,000. Picton Mahoney Asset Management grew its holdings in shares of International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after buying an additional 215 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in International Paper by 90.2% in the 4th quarter. Venturi Wealth Management LLC now owns 622 shares of the basic materials company’s stock valued at $33,000 after buying an additional 295 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 2.0%

International Paper stock opened at $47.68 on Friday. International Paper has a one year low of $41.50 and a one year high of $60.36. The company’s fifty day moving average price is $48.51 and its two-hundred day moving average price is $53.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market capitalization of $25.17 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the company posted $0.17 EPS. The business’s revenue was up 27.8% on a year-over-year basis. On average, analysts forecast that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper’s dividend payout ratio is 158.12%.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.