International Paper Declares Quarterly Dividend of $0.46 (NYSE:IP)

International Paper (NYSE:IP) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders of record on Monday, February 24th will be paid a dividend of 0.4625 per share by the basic materials company on Monday, March 17th. This represents a $1.85 annualized dividend and a dividend yield of 3.13%.

International Paper has decreased its dividend by an average of 2.6% annually over the last three years. International Paper has a payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect International Paper to earn $3.03 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 61.1%.

International Paper Price Performance

NYSE:IP traded down $0.19 during trading hours on Tuesday, hitting $59.10. The company’s stock had a trading volume of 6,894,529 shares, compared to its average volume of 4,968,161. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.53 and a quick ratio of 1.11. The company has a market capitalization of $20.53 billion, a P/E ratio of 50.51 and a beta of 1.03. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The stock has a fifty day simple moving average of $56.17 and a 200-day simple moving average of $51.35.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the previous year, the firm posted $0.64 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. On average, analysts anticipate that International Paper will post 1.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial boosted their price objective on International Paper from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. BNP Paribas lowered shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price objective for the company. in a report on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their target price on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.99.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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 directly owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. The trade was a 1.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 1,800 shares of company stock worth $100,848. Corporate insiders own 0.55% 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.