KeyCorp reaffirmed their sell rating on shares of International Paper (NYSE:IP) in a research report report published on Thursday, AnalystRatings.com reports. KeyCorp currently has a $38.00 target price on the basic materials company’s stock.
“We expect consensus estimates to continue to fall in the months ahead for the same reason. So why was the stock up 4.2% compared to the We have no good answer. Reiterate UW rating; we expect the shares to eventually move lower as estimates do the same.”,” the firm’s analyst wrote.
A number of other equities research analysts have also recently weighed in on IP. Bank of America cut Propetro from a buy rating to a neutral rating in a report on Tuesday, April 16th. UBS Group reaffirmed a sell rating on shares of in a report on Monday, June 24th. Citigroup lifted their price target on Silgan from $34.00 to $36.00 and gave the company a buy rating in a report on Thursday, July 11th. Stephens set a $120.00 price target on Electronic Arts and gave the company a buy rating in a report on Monday, June 24th. Finally, Royal Bank of Canada raised Snap from a sector perform rating to an outperform rating and lifted their price target for the company from $10.00 to $17.00 in a report on Friday, April 5th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $47.82.
NYSE IP traded down $0.87 during trading hours on Thursday, reaching $45.13. The company’s stock had a trading volume of 2,208,702 shares, compared to its average volume of 2,870,463. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.96 and a current ratio of 1.43. The company has a 50-day moving average of $43.38. International Paper has a 52 week low of $37.55 and a 52 week high of $54.95. The company has a market cap of $18.03 billion, a PE ratio of 8.48, a PEG ratio of 1.79 and a beta of 1.49.
International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.14. The company had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.77 billion. International Paper had a return on equity of 31.35% and a net margin of 7.32%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 earnings per share. As a group, sell-side analysts forecast that International Paper will post 4.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $2.00 annualized dividend and a yield of 4.43%. International Paper’s payout ratio is 37.59%.
In related news, SVP Thomas J. Plath sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $45.17, for a total transaction of $45,170.00. Following the sale, the senior vice president now owns 30,671 shares of the company’s stock, valued at $1,385,409.07. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jeanmichel Ribieras sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $46.85, for a total value of $234,250.00. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Advisory Alpha LLC acquired a new position in International Paper in the first quarter worth approximately $25,000. Bremer Bank National Association acquired a new position in International Paper in the first quarter worth approximately $28,000. Truvestments Capital LLC acquired a new position in International Paper in the first quarter worth approximately $30,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in International Paper in the first quarter worth approximately $32,000. Finally, Executive Wealth Management LLC acquired a new position in International Paper in the fourth quarter worth approximately $33,000. 81.34% of the stock is currently owned by hedge funds and other institutional investors.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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