International Paper (NYSE:IP) Earns “Sell” Rating from KeyCorp

KeyCorp reiterated their sell rating on shares of International Paper (NYSE:IP) in a research note released on Thursday, AnalystRatings.com reports. The brokerage currently has a $31.00 price target on the basic materials company’s stock.

Several other equities research analysts also recently commented on the company. Morgan Stanley began coverage on International Paper in a report on Monday, June 15th. They issued an underweight rating and a $29.00 price objective for the company. Wells Fargo & Co increased their price objective on International Paper from $32.00 to $34.00 and gave the company an equal weight rating in a report on Friday, May 1st. Bank of America raised International Paper from a neutral rating to a buy rating and set a $45.00 price objective for the company in a report on Thursday, July 16th. Cfra cut their price objective on International Paper from $45.00 to $36.00 and set a hold rating for the company in a report on Friday, May 1st. Finally, BofA Securities raised International Paper from a neutral rating to a buy rating in a report on Thursday, July 16th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $41.50.

Shares of IP traded down $0.97 during mid-day trading on Thursday, hitting $34.79. 4,047,941 shares of the company’s stock were exchanged, compared to its average volume of 2,405,005. The company has a market cap of $13.67 billion, a PE ratio of 21.74 and a beta of 1.33. International Paper has a 52 week low of $26.38 and a 52 week high of $47.64. The company has a 50-day simple moving average of $35.29 and a 200 day simple moving average of $36.07. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.79 and a quick ratio of 0.56.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.38. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.97 billion. International Paper had a net margin of 2.98% and a return on equity of 19.18%. The business’s quarterly revenue was down 14.1% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS. On average, analysts anticipate that International Paper will post 2.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a dividend of $0.5125 per share. This represents a $2.05 annualized dividend and a yield of 5.89%. The ex-dividend date is Thursday, August 13th. International Paper’s payout ratio is 46.28%.

A number of hedge funds have recently bought and sold shares of IP. Evoke Wealth LLC increased its position in shares of International Paper by 158.7% in the first quarter. Evoke Wealth LLC now owns 807 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 495 shares during the period. Citizens Financial Group Inc RI increased its position in shares of International Paper by 207.1% in the first quarter. Citizens Financial Group Inc RI now owns 823 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 555 shares during the period. St. Johns Investment Management Company LLC grew its position in International Paper by 1,555.6% in the second quarter. St. Johns Investment Management Company LLC now owns 745 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 700 shares during the last quarter. Balentine LLC bought a new position in International Paper in the first quarter valued at about $28,000. Finally, Howe & Rusling Inc. bought a new position in International Paper in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 81.06% of the company’s stock.

International Paper Company Profile

International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Analyst Recommendations for International Paper (NYSE:IP)

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