International Paper (NYSE:IP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of International Paper (NYSE:IP) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $51.54.

A number of research firms have recently weighed in on IP. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Truist Financial restated a “buy” rating and set a $61.00 price target (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, Royal Bank of Canada upped their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

International Paper Price Performance

Shares of NYSE:IP opened at $55.11 on Wednesday. International Paper has a 52 week low of $32.70 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The firm has a market cap of $19.15 billion, a PE ratio of 47.10 and a beta of 1.02. The firm’s fifty day moving average is $54.79 and its 200-day moving average is $49.44.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts predict that International Paper will post 1.18 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, November 15th. International Paper’s dividend payout ratio is currently 158.12%.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total value of $28,848.00. Following the sale, the director now directly owns 38,945 shares of the company’s stock, valued at approximately $1,872,475.60. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 3,000 shares of company stock worth $158,904. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Paper

A number of hedge funds have recently added to or reduced their stakes in IP. Brooklyn Investment Group purchased a new stake in International Paper during the 3rd quarter valued at $25,000. Innealta Capital LLC purchased a new position in International Paper during the second quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new position in shares of International Paper in the third quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of International Paper in the third quarter worth $28,000. Finally, Eastern Bank purchased a new stake in shares of International Paper in the third quarter worth $40,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

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.