International Paper Co. (IP) Hits New 1-Year High at $49.70
International Paper Co. (NYSE:IP) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $49.70 and last traded at $49.39, with a volume of 2,968,754 shares trading hands. The stock had previously closed at $48.39.
IP has been the topic of a number of recent research reports. Credit Suisse Group AG lowered International Paper from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $47.00 in a report on Thursday, April 28th. Barclays PLC dropped their target price on International Paper from $44.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, May 2nd. Zacks Investment Research raised International Paper from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Monday, May 2nd. Jefferies Group lowered International Paper from a “buy” rating to a “hold” rating and dropped their target price for the company from $51.00 to $47.00 in a report on Tuesday, May 3rd. Finally, Vetr raised International Paper from a “buy” rating to a “strong-buy” rating and set a $47.71 target price on the stock in a report on Tuesday, May 3rd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. International Paper has a consensus rating of “Hold” and an average target price of $45.31.
The stock’s 50 day moving average is $45.66 and its 200 day moving average is $41.80. The company has a market cap of $20.26 billion and a price-to-earnings ratio of 26.69.
International Paper (NYSE:IP) last posted its earnings results on Thursday, July 28th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. During the same quarter in the prior year, the business earned $0.97 earnings per share. The business earned $5.30 billion during the quarter, compared to analyst estimates of $5.32 billion. The firm’s revenue was down 6.9% compared to the same quarter last year. Analysts anticipate that International Paper Co. will post $3.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.64%. The ex-dividend date is Thursday, August 11th.
In other news, CFO Carol L. Roberts sold 12,256 shares of International Paper stock in a transaction on Monday, August 8th. The stock was sold at an average price of $46.20, for a total transaction of $566,227.20. The sale was disclosed in a legal 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 on Friday, June 3rd. The shares were sold at an average price of $42.70, for a total value of $555,100.00. Following the transaction, the senior vice president now 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. Dimensional Fund Advisors LP increased its position in International Paper Co. (NYSE:IP) by 14.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,020,542 shares of the company’s stock after buying an additional 621,585 shares during the period. Dimensional Fund Advisors LP owned about 1.21% of International Paper worth $189,289,000 at the end of the most recent quarter.
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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