International Paper (NYSE:IP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of International Paper (NYSE:IP) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on IP. Royal Bank Of Canada upped their price objective on International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. reduced their target price on International Paper from $62.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, October 29th. Argus restated a “buy” rating and issued a $45.00 price target on shares of International Paper in a research note on Thursday, September 24th. Citigroup lowered their price target on International Paper from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Finally, Truist Financial reaffirmed a “buy” rating and set a $39.00 price objective (down from $41.00) on shares of International Paper in a research report on Thursday, October 29th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.44.

International Paper Price Performance

IP stock opened at $35.41 on Friday. International Paper has a 1 year low of $29.26 and a 1 year high of $50.25. The company has a market cap of $18.75 billion, a P/E ratio of 74.27, a PEG ratio of 5.27 and a beta of 0.97. The firm has a 50-day moving average of $34.31 and a 200 day moving average of $37.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.77.

International Paper (NYSE:IP) last posted its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the firm posted ($0.43) EPS. The business’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts forecast that International Paper will post 1.14 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced 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. This represents a $1.85 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Monday, November 16th. International Paper’s dividend payout ratio is currently -28.20%.

Hedge Funds Weigh In On International Paper

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of International Paper in the second quarter worth about $1,940,896,000. Bank of New York Mellon Corp bought a new position in International Paper during the second quarter valued at approximately $689,498,000. Atlas FRM LLC bought a new position in International Paper during the second quarter valued at approximately $374,904,000. Bessemer Group Inc. purchased a new position in International Paper during the 3rd quarter valued at approximately $171,362,000. Finally, Hill City Capital LP purchased a new position in International Paper during the 2nd quarter valued at approximately $194,310,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

About International Paper

International Paper is a global producer of fiber-based packaging and pulp products. Its packaging offerings include containerboard and corrugated packaging used to protect and transport goods, while its pulp products serve a range of consumer and industrial applications.

The company traces its origins to 1898, when several U.S. paper manufacturers combined to form International Paper. Over time, it has evolved through acquisitions and changes to its business, with a focus on renewable, fiber-based materials and packaging solutions.

International Paper serves customers across multiple regions, including North America and Europe.