International Paper (NYSE:IP) Lowered to “Underperform” Rating by BNP Paribas

BNP Paribas lowered shares of International Paper (NYSE:IP) from a neutral rating to an underperform rating in a report published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $48.20 target price on the basic materials company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada raised their price objective on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Truist Financial restated a “buy” rating and set a $61.00 price target (up previously from $57.00) on shares of International Paper in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.54.

International Paper Price Performance

Shares of NYSE:IP opened at $57.58 on Wednesday. The company has a 50 day moving average of $50.36 and a 200 day moving average of $46.50. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock has a market cap of $20.00 billion, a P/E ratio of 49.21 and a beta of 1.02. International Paper has a 12 month low of $31.76 and a 12 month high of $59.52.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the business earned $0.64 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that International Paper will post 1.29 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.21%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

Insider Transactions at International Paper

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. This trade represents a 22.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The trade was a 15.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,840 shares of company stock worth $910,826. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On International Paper

Large investors have recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in shares of International Paper in the 3rd quarter worth approximately $25,000. Innealta Capital LLC purchased a new stake in shares of International Paper in the 2nd quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new position in International Paper during the third quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in International Paper in the third quarter worth $28,000. Finally, Crewe Advisors LLC bought a new position in shares of International Paper during the first quarter valued at $29,000. 81.95% of the stock is currently owned by institutional investors.

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.