International Paper Co. (IP) Trading Up 4%
International Paper Co. (NYSE:IP)’s share price was up 4% during trading on Thursday . The stock traded as high as $48.61 and last traded at $48.41, with a volume of 3,632,922 shares changing hands. The stock had previously closed at $46.56.
Several equities analysts have recently commented on IP shares. Jefferies Group restated a “hold” rating on shares of International Paper in a research report on Monday, August 22nd. Wells Fargo & Co. reiterated a “buy” rating on shares of International Paper in a research report on Monday, June 20th. Deutsche Bank AG upped their price objective on shares of International Paper from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. Barclays PLC lowered their price objective on shares of International Paper from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, May 2nd. Finally, Vetr cut shares of International Paper from a “strong-buy” rating to a “buy” rating and set a $46.81 price objective for the company. in a research report on Monday, June 20th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.31.
The stock has a market cap of $20.10 billion and a P/E ratio of 26.48. The company’s 50 day moving average price is $45.85 and its 200-day moving average price is $41.91.
International Paper (NYSE:IP) last announced its earnings results on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The company earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the business earned $0.97 earnings per share. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that International Paper Co. will post $3.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Thursday, August 11th.
In other International Paper news, CFO Carol L. Roberts sold 12,256 shares of International Paper stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $46.20, for a total transaction of $566,227.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Timothy S. Nicholls sold 13,000 shares of International Paper stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $42.70, for a total transaction of $555,100.00. Following the transaction, the senior vice president now directly owns 212,511 shares in the company, valued at $9,074,219.70. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in International Paper stock. Stephens Inc. AR raised its stake in International Paper Co. (NYSE:IP) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,455 shares of the company’s stock after buying an additional 3,460 shares during the period. Stephens Inc. AR’s holdings in International Paper were worth $1,148,000 at the end of the most recent reporting period.
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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