International Paper (NYSE:IP) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of International Paper (NYSE:IP) from a buy rating to a hold rating in a research report released on Friday morning.

Other equities research analysts have also issued research reports about the company. Citigroup assumed coverage on International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective on the stock. Bank of America began coverage on shares of International Paper in a report on Thursday, February 13th. They set a “neutral” rating on the stock. Truist Financial restated a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a research report on Friday, January 31st. JPMorgan Chase & Co. started coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average price target of $55.32.

International Paper Trading Down 2.5 %

NYSE IP opened at $53.23 on Friday. International Paper has a 1 year low of $33.16 and a 1 year high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market capitalization of $28.01 billion, a PE ratio of 33.90, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a fifty day moving average of $54.86 and a 200 day moving average of $53.76.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. Research analysts forecast that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.48%. International Paper’s dividend payout ratio (DPR) is presently 117.83%.

Hedge Funds Weigh In On International Paper

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sierra Ocean LLC purchased a new position in International Paper in the 4th quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in shares of International Paper in the fourth quarter valued at about $26,000. Brooklyn Investment Group purchased a new position in shares of International Paper in the third quarter worth about $25,000. Picton Mahoney Asset Management boosted its position in International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 215 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in International Paper during the third quarter worth about $28,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.