International Paper (NYSE:IP) Given New $48.00 Price Target at Citigroup

International Paper (NYSE:IP) had its target price upped by Citigroup from $43.00 to $48.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

IP has been the subject of several other reports. UBS Group lifted their price objective on shares of International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday. Zacks Research raised International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. JPMorgan Chase & Co. upgraded International Paper from a “neutral” rating to an “overweight” rating and raised their price target for the company from $51.00 to $61.00 in a research note on Tuesday. Wells Fargo & Company lifted their price target on International Paper from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America cut International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

International Paper Stock Down 4.9%

Shares of International Paper stock opened at $41.03 on Friday. International Paper has a 52-week low of $29.26 and a 52-week high of $52.28. The company has a 50 day moving average of $36.88 and a 200 day moving average of $38.04. The company has a quick ratio of 0.94, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $21.73 billion, a P/E ratio of -6.29 and a beta of 0.94.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s revenue was down 11.3% on a year-over-year basis. As a group, research analysts forecast that International Paper will post 1.4 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s dividend payout ratio (DPR) is -29.09%.

Institutional Investors Weigh In On International Paper

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors boosted its stake in International Paper by 29.4% in the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after acquiring an additional 14,422,616 shares in the last quarter. Franklin Resources Inc. increased its position in shares of International Paper by 81.6% during the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock worth $584,270,000 after purchasing an additional 6,663,986 shares in the last quarter. Norges Bank purchased a new stake in shares of International Paper in the 4th quarter valued at about $250,093,000. Bank of New York Mellon Corp lifted its holdings in shares of International Paper by 66.2% in the 1st quarter. Bank of New York Mellon Corp now owns 13,601,299 shares of the basic materials company’s stock valued at $485,566,000 after purchasing an additional 5,417,274 shares during the last quarter. Finally, Atlas FRM LLC boosted its position in shares of International Paper by 56.2% in the 4th quarter. Atlas FRM LLC now owns 5,000,000 shares of the basic materials company’s stock valued at $196,950,000 after purchasing an additional 1,800,000 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about International Paper

Here are the key news stories impacting International Paper this week:

• Positive Sentiment: Citigroup raised its price target to $48 and assigned a Buy rating, implying approximately 17% potential upside based on the referenced price. The call suggests confidence in containerboard pricing and International Paper’s longer-term recovery prospects. Benzinga analyst price target report
• Positive Sentiment: Second-quarter adjusted EPS was $0.04, beating the consensus estimate of a $0.04 loss. Recent insider activity also showed five open-market purchases and no sales over the past six months, including purchases by the CEO and other executives. These factors may provide some support for investor confidence. International Paper second-quarter results
• Neutral Sentiment: JPMorgan upgraded International Paper’s stock rating, while other recent analyst targets have been mixed. Institutional positioning was also divided, with some large investors adding shares and others making substantial reductions. JPMorgan International Paper rating update
• Negative Sentiment: Revenue totaled $6.00 billion, below roughly $6.2 billion in expectations and down 11.3% year over year. The company reported a $12 million loss from continuing operations, negative free cash flow of $7 million, and reduced profitability expectations. Management projected full-year adjusted EBITDA of $3.20 billion to $3.40 billion and warned that a temporary Pine Hill, Alabama, mill closure will reduce third-quarter EBITDA by about $85 million. Higher maintenance, input and freight costs are adding further pressure. Zacks International Paper earnings analysis
• Negative Sentiment: Analysts cut estimates for second- and third-quarter EPS, reinforcing concerns that maintenance outages, macroeconomic headwinds and weaker profitability could outweigh the quarterly earnings beat. International Paper EPS forecast revision

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.