Royal Bank of Canada Reiterates “Outperform” Rating for International Paper (NYSE:IP)

Royal Bank of Canada reiterated their outperform rating on shares of International Paper (NYSE:IP) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $64.00 price target on the basic materials company’s stock.

IP has been the subject of several other research reports. StockNews.com raised shares of International Paper from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Citigroup assumed coverage on shares of International Paper in a research report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 target price on the stock. Truist Financial reissued a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of International Paper in a research note on Friday, January 31st. Finally, Bank of America initiated coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

International Paper Stock Down 1.1 %

NYSE:IP opened at $55.65 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. International Paper has a 12-month low of $33.16 and a 12-month high of $60.36. The stock’s fifty day simple moving average is $54.96 and its 200-day simple moving average is $53.62. The firm has a market capitalization of $29.28 billion, a P/E ratio of 35.45, a P/E/G ratio of 0.39 and a beta of 1.02.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Equities research analysts expect that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.32%. The ex-dividend date was Monday, February 24th. International Paper’s payout ratio is 117.83%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IP. Cerity Partners LLC increased its position in shares of International Paper by 7.3% during the 3rd quarter. Cerity Partners LLC now owns 38,050 shares of the basic materials company’s stock worth $1,859,000 after purchasing an additional 2,588 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of International Paper by 1.1% in the third quarter. Daiwa Securities Group Inc. now owns 40,947 shares of the basic materials company’s stock valued at $2,000,000 after buying an additional 442 shares in the last quarter. Private Trust Co. NA increased its holdings in International Paper by 15.9% during the third quarter. Private Trust Co. NA now owns 5,627 shares of the basic materials company’s stock worth $275,000 after buying an additional 771 shares during the last quarter. FMR LLC raised its position in International Paper by 88.4% during the third quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock worth $871,447,000 after acquiring an additional 8,370,273 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in International Paper in the third quarter valued at $25,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

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.