International Paper (NYSE:IP) Cut to “Underperform” at BNP Paribas

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

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

International Paper Price Performance

Shares of IP opened at $57.58 on Wednesday. The firm has a market cap of $20.00 billion, a PE ratio of 49.21 and a beta of 1.02. International Paper has a 52-week low of $31.76 and a 52-week high of $59.52. The business’s 50 day moving average price is $50.36 and its two-hundred day moving average price is $46.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. International Paper’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. On average, equities analysts anticipate that International Paper will post 1.29 EPS for the current year.

International Paper Announces Dividend

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

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the sale, the director now owns 38,345 shares in the company, valued at approximately $2,051,457.50. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 approximately $2,433,296.56. The trade was a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,840 shares of company stock valued at $910,826 in the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Paper

Several institutional investors and hedge funds have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its position in International Paper by 47.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,046 shares of the basic materials company’s stock worth $470,000 after purchasing an additional 3,854 shares during the period. Empowered Funds LLC purchased a new position in International Paper in the 1st quarter valued at approximately $668,000. SG Americas Securities LLC grew its stake in International Paper by 52.4% in the 1st quarter. SG Americas Securities LLC now owns 45,720 shares of the basic materials company’s stock valued at $1,784,000 after buying an additional 15,712 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in International Paper during the 1st quarter valued at $219,000. Finally, Sei Investments Co. lifted its position in shares of International Paper by 9.2% during the first quarter. Sei Investments Co. now owns 426,929 shares of the basic materials company’s stock worth $16,659,000 after acquiring an additional 35,857 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

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.