International Paper (NYSE:IP) Receives $55.32 Consensus Target Price from Brokerages

Shares of International Paper (NYSE:IP) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $55.32.

IP has been the topic of a number of recent analyst reports. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. Bank of America initiated coverage on International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Finally, Truist Financial reissued a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st.

International Paper Trading Down 2.6 %

Shares of NYSE IP opened at $47.89 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36. The company’s 50 day simple moving average is $54.18 and its 200 day simple moving average is $53.85. The firm has a market capitalization of $25.20 billion, a P/E ratio of 30.50, a P/E/G ratio of 0.39 and a beta of 0.99.

International Paper (NYSE:IP) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. On average, analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio (DPR) is currently 117.83%.

Hedge Funds Weigh In On International Paper

A number of hedge funds and other institutional investors have recently made changes to their positions in IP. Price T Rowe Associates Inc. MD raised its holdings in shares of International Paper by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company’s stock valued at $2,561,651,000 after purchasing an additional 368,648 shares during the period. Vanguard Group Inc. grew its holdings in shares of International Paper by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after acquiring an additional 340,383 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock worth $1,609,462,000 after buying an additional 12,191,361 shares during the last quarter. FMR LLC increased its stake in shares of International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock worth $1,429,449,000 after purchasing an additional 8,720,575 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of International Paper by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company’s stock valued at $450,586,000 after buying an additional 24,816 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

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.