International Paper Company (NYSE:IP) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of International Paper Company (NYSE:IP) have been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $45.44.

A number of brokerages have issued reports on IP. Citigroup decreased their price target on International Paper from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, October 30th. Wells Fargo & Company dropped their price objective on International Paper from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, October 7th. JPMorgan Chase & Co. cut their target price on International Paper from $62.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Truist Financial restated a “buy” rating and set a $39.00 target price (down from $41.00) on shares of International Paper in a research note on Thursday, October 29th. Finally, Seaport Research Partners reaffirmed a “buy” rating and issued a $46.00 price target on shares of International Paper in a report on Wednesday, August 12th.

International Paper Price Performance

Shares of IP opened at $35.61 on Friday. The firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of -5.43, a PEG ratio of 5.19 and a beta of 0.97. The firm’s fifty day simple moving average is $34.63 and its 200-day simple moving average is $37.32. International Paper has a twelve month low of $29.26 and a twelve month high of $50.25. The company has a current ratio of 1.01, a quick ratio of 0.77 and a debt-to-equity ratio of 0.59.

International Paper (NYSE:IP) last issued its earnings results on Wednesday, October 28th. The basic materials company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.28 billion. International Paper had a negative net margin of 14.32% and a positive return on equity of 1.77%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. Equities analysts forecast that International Paper will post 1.13 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a yield of 5.2%. International Paper’s dividend payout ratio (DPR) is presently -28.20%.

Insider Buying and Selling at International Paper

In other news, VP William Hamic sold 24,500 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares in the company, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IP. BlackRock Inc. purchased a new stake in shares of International Paper in the second quarter valued at about $1,940,896,000. State Street Corp boosted its stake in shares of International Paper by 7.1% during the second quarter. State Street Corp now owns 32,999,909 shares of the basic materials company’s stock worth $1,257,297,000 after buying an additional 2,189,597 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of International Paper during the second quarter worth about $689,498,000. Atlas FRM LLC purchased a new position in shares of International Paper during the second quarter worth about $374,904,000. Finally, Hill City Capital LP purchased a new position in shares of International Paper during the second quarter worth about $194,310,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

About International Paper

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.