International Paper (NYSE:IP) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of International Paper (NYSE:IP - Get Free Report) have received an average recommendation of "Moderate Buy" from the ten research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $53.86.

Several brokerages have recently weighed in on IP. JPMorgan Chase & Co. started coverage on International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a report on Wednesday, March 26th. Truist Financial reduced their price objective on International Paper from $64.00 to $59.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company restated an "underweight" rating and issued a $40.00 target price (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. Finally, Citigroup began coverage on International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective for the company.

International Paper Price Performance

IP stock traded up $0.21 during midday trading on Friday, hitting $47.93. 3,197,094 shares of the stock were exchanged, compared to its average volume of 7,714,064. International Paper has a fifty-two week low of $41.50 and a fifty-two week high of $60.36. The stock has a market cap of $25.30 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 0.39 and a beta of 1.03. The stock's 50-day moving average price is $48.17 and its 200-day moving average price is $52.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business's revenue for the quarter was up 27.8% compared to the same quarter last year. Research analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper's dividend payout ratio is 158.12%.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer now owns 31,525 shares of the company's stock, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Paper

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in International Paper by 52.0% during the 1st quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company's stock worth $3,340,966,000 after purchasing an additional 21,428,455 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of International Paper by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company's stock worth $2,763,426,000 after purchasing an additional 4,201,422 shares during the period. Capital Research Global Investors increased its stake in International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock valued at $1,609,462,000 after acquiring an additional 12,191,361 shares during the last quarter. FMR LLC increased its stake in International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock valued at $1,429,449,000 after acquiring an additional 8,720,575 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in International Paper by 19.4% in the first quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company's stock valued at $914,712,000 after buying an additional 2,782,042 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

About International Paper

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.