International Paper Co. (IP) Sets New 12-Month High at $49.70
International Paper Co. (NYSE:IP) shares reached a new 52-week high 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.
A number of research analysts recently weighed in on the company. Jefferies Group reaffirmed a “hold” rating on shares of International Paper in a research report on Monday, August 22nd. BMO Capital Markets reissued a “market perform” rating and issued a $47.00 target price on shares of International Paper in a report on Saturday, August 13th. Deutsche Bank AG lifted their target price on International Paper from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Wednesday, August 10th. Credit Suisse Group AG reissued a “hold” rating and issued a $47.00 target price on shares of International Paper in a report on Monday, August 1st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $42.00 target price on shares of International Paper in a report on Friday, July 29th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $45.31.
The stock has a market cap of $20.10 billion and a PE ratio of 26.48. The stock has a 50-day moving average price of $45.85 and a 200-day moving average price of $41.91.
International Paper (NYSE:IP) last posted its earnings results on Thursday, July 28th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. Analysts predict that International Paper Co. will post $3.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.76 dividend on an annualized basis and a yield of 3.60%.
In other International Paper news, SVP Glenn R. Landau sold 10,000 shares of the company’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $43.28, for a total transaction of $432,800.00. Following the completion of the sale, the senior vice president now owns 91,554 shares in the company, valued at $3,962,457.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Carol L. Roberts sold 12,256 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $46.20, for a total value of $566,227.20. The disclosure for this sale can be found here.
An institutional investor recently raised its position 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 1.21% of International Paper worth $189,289,000 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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