International Paper (NYSE:IP) Coverage Initiated at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of International Paper (NYSE:IP) in a research report released on Thursday morning, Marketbeat.com reports. The firm issued an overweight rating and a $59.00 target price on the basic materials company’s stock.

Other equities analysts have also issued reports about the stock. Bank of America assumed coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Citigroup assumed coverage on shares of International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Finally, Truist Financial reiterated a “buy” rating and set a $64.00 target price (down from $65.00) on shares of International Paper in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.32.

International Paper Stock Performance

Shares of IP stock opened at $51.29 on Thursday. The firm’s 50 day moving average price is $54.96 and its 200-day moving average price is $53.46. 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 has a one year low of $33.16 and a one year high of $60.36. The firm has a market cap of $26.99 billion, a P/E ratio of 32.67, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities research analysts predict that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is presently 117.83%.

Institutional Investors Weigh In On International Paper

Large investors have recently modified their holdings of the company. Sierra Ocean LLC purchased a new stake in shares of International Paper in the 4th quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new stake in shares of International Paper in the 4th quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new stake in shares of International Paper in the 3rd quarter valued at approximately $25,000. Picton Mahoney Asset Management increased its position in shares of International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in shares of International Paper in the 3rd quarter valued at $28,000. 81.95% of the stock is owned by hedge funds and other 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.